
Tanzania revokes licence of five banks

The Bank of Tanzania has revoked the licences of five financial institutions because they are “critically undercapitalised”, the central bank said on January 4.
The “continuation of their operations in the current capital position is detrimental to the interests of depositors and poses a risk to the stability of the financial system,” a statement published by the BoT says. The central bank has appointed the Deposit Insurance Board as the liquidator of the banks.
The five institutions are small
More on Macro-prudential
Latest issue
Most read
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- The Bank of Italy’s approach to risk-based budgeting
- Dudley backs floor-based system for setting monetary policy
- Asian Infrastructure Investment Bank – Raising expectations