Rwanda: Equity Bank Rwanda Starts Online Forex Trading

Rwanda: Equity Bank Rwanda Starts Online Forex Trading

Equity Bank Rwanda has launched EazzyFX, an electronic platform for settling foreign exchange transactions.

The platform, powered by Thomson Reuters’s Refinitiv, will allow clients to convert currencies without having to physically visit the Bank’s premises or foreign exchange agents.

The move is seen as part of the Bank’s efforts to diversify its income stream, and will give clients the freedom to execute foreign exchange deals in real-time from the comfort of their offices or homes.

"We had forex services where people visit our branches. This time our clients with accounts in our bank who sell or buy any currencies can also do it online without meeting forex agents face to face at our branch," said Hannington Namara, the Managing Director of Equity Bank Rwanda,

The platform will also displace the status of exchange rates in Equity Bank giving clients access to automated rates through their mobile phones or computers, he added.

The lender says that importers and suppliers of goods and services who frequently need foreign currencies to settle their transactions can now leverage on EazzyFX for efficiency and business growth.

In addition to currency conversion, Namara disclosed that the platform will also facilitate the Bank’s clients to send and receive money across continents.

The online forex trading platform is the lender’s latest innovation as it seeks to become the leader in digital banking solutions.

"In today’s world, digital banking solutions such as EazzyFX have proven to be the solutions that our customers are seeking to facilitate their businesses to become more competitive as they compress time and distance," Namara stressed.

Equity Bank Rwanda Head of Treasury Fernand Kamanzi said, "Once signed up, customers will enjoy the best deals and competitive market pricing, real-time streaming of rates across various currency pairs, placing buy and sell orders, getting a history of all forex transactions, viewing settlement accounts set up for forex conversion and so much more."

As Equity, he said, we also commit to continue offering support to customers through our teams of dedicated and qualified Relationship Managers who will champion the signing up and usage of the platform.Equity Bank Rwanda is a subsidiary of Kenya’s Equity Group, which has an asset base of over $10 billion.Equity Bank Rwanda footprint of 14 branches and is supported by 2800 agents, 1220 merchants and a network of 21 ATMs.In order to register for access EazzyFXare, a client is required to place an inquiry through or call 4555, +250-788-190-000/737-360-000 or sign up […]

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