Tanzanian central bank announces loan crackdown
Central bank says “unscrupulous borrowers and employees” partly responsible for high NPL levels
Tanzania’s central bank has pledged to crack down on fraud at the country’s banks in a bid to reduce the level of non-performing loans.
The move comes two months after the International Monetary Fund announced an aid package for Tanzania but warned the country’s banking sector faced increased risk levels. The Bank of Tanzania said its review of high NPL levels had found evidence of malpractice by some financial institutions’ employees.
Some of them were “issuing loans without following
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