TIB Development Bank that has been licensed by the Bank of Tanzania (BoT) to carry out banking business as TIB Corporate Finance Limited is still running short of capital to finance all development projects. The BoT has issued two licences to TIB Development Bank Limited and TIB Corporate Finance Limited, which is a designated Commercial
Backed by a staggering over 9.6bn/- financial muscle and over 12,476 members, Tanzania Prisons Savings and Credit Cooperative Society (TPS-SACCOS) has everything to convince Bank of Tanzania (BoT) Governor, Professor Benno Ndulu grant them commercial banking licence. Home Affairs Minister, Mr Matthias Chikawe, told representatives of TPS SACCOS Ltd that growth of the savings and
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
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
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
The Bank of Tanzania (BoT) announced that the East African Payment System (EAPS) has started operating and will enhance cross border payments and boost trade within the region. The BoT governor, Prof Benno Ndulu, said in a statement issued by the Bank in Dar es Salaam that the EAPS was part of modernisation efforts of
Bank of Tanzania (BoT) is out to hook ‘unbankable’ population to the financial services at affordable costs at a time when penetration is around 14 per cent. The BoT and financial inclusion stakeholders will launch a National Financial Inclusion Framework on Thursday, an occasion expected to be graced by Queen Máxima of the Netherlands and
