Tanzania embarked on financial liberalization in 1992 aimed at sustaining growth in the real sector by boosting resource mobilization, motivating competition in the financial market and enhancing quality and efficiency in credit allocation. These reforms have changed the direction and quality of financial services offered in the country.

New merchant banks, commercial banks, bureau de change, insurance companies, stock exchange and related financial units have been established. The entry of new banks and non-bank financial institutions has enhanced the competition and improved the quality and type of financial products and services provided. Currently, there are more 20 registered banks and 9 non-bank financial institutions. Each of these institutions play an important role in financial resource mobilization

Central Bank:

The Bank of Tanzania (BOT) bears the responsibility of establishing a conducive monetary stipulations that will generate low and stable inflation over time. As it is disclosed in the BOT Act, 1995 section 5 (3), "The primary objective of the Bank shall be to formulate and implement monetary policy, directed to the economic objective of maintaining price stability, conducive to a balanced and sustainable growth of the national economy of Tanzania. More...

Commercial Banks in Tanzania:

In an effort to liberalize the banking sector, the Banking and Financial Institution Act, 1991 was introduced to provide the legal framework for banking operations in Tanzania that will grant authorization of financial institutions to receive money on current account subject to withdraw by cheque. As a result of the Act, the entry of new banks has enhanced financial competition resulting into some improvement of the quality and quantity of the financial services offered. Click here for a list and contacts of the banks. More...

Non Bank Financial Institutions:
A non bank financial institution is any person authorized by law or the Bank to engage in banking business not involving the receipt of money on current account subject to withdrawal by cheque. Click here for the list and contacts of the non bank financial institutions that have been licensed by the Bank of Tanzania. Read More...

Dar-es-Salaam Stock Exchange:
The DSE is a non-profit making body created to facilitate the Government implementation of the economic reforms and in future to encourage the wider share ownership of privatized and all the companies in Tanzania. Read More...

Key documents:

National Micro Financial Policy

Monetary and Financial System

Banking Operations in Tanzania

Payment System in Tanzania

Treasury bond instrument

Treasury bonds prospectus

The Banking and Financial Institution Act, 1991

Useful links:

Bank of Tanzania

Dar-es-Salaam Stock Exchange

Micro Finance Gateway

 

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