Mwalimu Commercial Bank PLC. (hereinafter referred to as “MCB”) is a commercial bank incorporated in 2012 and is headquartered in Dar es Salaam Tanzania. The genesis of MCB came about as a result of the conditions prevailing in the market at the time of it constitution.
It was realized that a number of banks and financial institutions are not easily accessible by teachers` or offer costly products, teachers` required an alternative means to overcome the challenges hence, the teachers`, through Tanzania Teachers` Union (TTU), and the economic wing of TTU, the teachers` Development Company Limited (TDCL) made a decision to establish a bank to serve them and the general public by ensuring minimization of costs of operations while providing affordable and diverse financial solutions.
The Banks objective is to empower teachers` and other civil servants economically so as to improve their
living conditions and transform their lives.
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