Bank of Tanzania tells FBME Customers Deposits Safe Despite Ban

Posted on by Staff Writer | 9683 Views | 13 min read

FBME, one of Tanzania’s largest commercial banks, has been cut off from accessing the US financial system on suspicions that the bank has facilitated money laundering, terrorist financing and organised crime. However, in an exclusive interview with the ‘Sunday News’ yesterday, the Treasury Registrar, Mr Lawrence Mafuru, allayed fears that the bank will cease to

Cyprus Central Bank Suspends Move to Sell FBME

Posted on by wademinnie | 7853 Views | 10 min read

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