A new bank, China Commercial Bank, has been granted a provisional banking license to operate in the country. According to the Bank of Tanzania , the new bank has no banking affiliation with another bank in China or Tanzania. The BoT Governor, Prof. Beno Ndullu said the CCB has been formed by Chinese and Tanzanian
Barclays Bank Tanzania has launched service guarantee product, an initiative geared to improve customers’ experience at the bank in the country. Speaking at the launch in Dar es Salaam, Barclays Head of Products, Segments and Retail Strategy & Acting Retail Director, Mr Musa Kitoi, said with the service guarantee initiative, the bank commits to provide
Presence of Habib Mohamed D. Habib as board member of London based Habib Bank Limited and Dar es Salaam based Habib African Bank Limited, has no legal problem. Bank of Tanzania Governor, Professor Benno Ndulu said Mr Habib who is board chairman of the local bank and director of the London based bank in which
Cyprus’s central bank has suspended efforts to find a buyer for branches of a Tanzania-based bank, pending the outcome of legal action seeking to block the sale, it said on Saturday. Cypriot regulators seized control of two branches of the FBME bank in July, after a department of the U.S. Treasury alleged the bank engaged
The management of Lebanese owned FBME Bank has been taken over by Bank of Tanzania (BoT), to secure local clients savings and smooth running of the troubled bank. In a statement issue in the city on Friday, BoT said following management takeover of FBME in Cyprus where it transacts about 90 per cent of its
Banks and other financial institutions have been urged to expand delivery of services to ensure people from all walks of life are served well irrespective of their social status and religious beliefs. “More bankers should consider offering services without charging or paying interest to customers ….. such a system leaves out many muslims in the
More than 500,000 Tanzanians have so far subscribed with M-Pawa banking service with deposits 4bn/- within less than three months since it was launched in Dar es Salaam. The service operated jointly by Vodacom Tanzania and the Commercial Bank of Africa (CBA). M-Pawa is mobile phone based bank in the sense that it make it
Exim Bank Tanzania has launched a special branch stimulation training for its staff in a move aimed at enhancing efficiency in delivery of services. New members of staff are scheduled to get an average of 56 hours of training, while others would have a minimum of 160 hours of ongoing classroom exposure. Speaking at the
The Bank of Tanzania (BoT) is considering the use of Short Message Service (SMS) to educate the public on legal tender security features, being part of strategies to prevent fabrication and distribution of counterfeit notes. Commenting on the seriousness of the matter, Senior Clerical Officer from the BoT, Directorate of Banking, Ms Rehema Zongo admitted
Tanzanians have been urged to build and strengthen a culture of saving through banks and other financial institutions for their own benefits and the country’s economic development. Talking to journalists in Dar es Salaam, the Deposit Insurance Board (DIB) officials said the culture of saving through banks enables depositors access loans for their development. The
