Tanzanian central bank fines lenders over in-country data centres

Move comes as doubts grow over quality of banking sector and official statistics

Bank of Tanzania
The Bank of Tanzania

Tanzania’s central bank says it will fine the country’s commercial lenders if they fail to set up secure domestic data centres.

The Bank of Tanzania announced it has already punished two commercial lenders for failing to do so, fining both Diamond Trust Bank and National Bank of Commerce one billion Tanzanian shillings, or approximately $434,000.

The central bank has reportedly sent a circular to all of Tanzania’s commercial lenders, saying it will fine them unless they set up the centres in

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