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Tips about Bank Of Tanzania BOT The Bank of Tanzania is the Central Bank of the United Republic of Tanzania established by the Bank of Tanzania Act of 1965, It became operational on 14th June 1966. Various amendments to the Bank of Tanzania Act have been made leading to the Bank of Tanzania Act of 1978 and the Bank of Tanzania Act of 1995. Presently, the Bank of Tanzania operates under the Bank of Tanzania Act, 2006.
The history of monetary arrangements in Tanzania prior to the establishment of the Bank of Tanzania is divided into two parts, namely, the period before the establishment of the East African Currency Board (EACB) in December 1919; and the period until the opening of the doors of the Bank of Tanzania in June 1966.
Tips about Bank Of Tanzania BOT
Who owns Bank of Tanzania?
| Headquarters | 16 Jakaya Kikwete Road P.O Box 2303 40184 Dodoma, Tanzania |
|---|---|
| Established | 14 June 1966 (began operations) |
| Ownership | 100% state ownership |
| Governor | Emmanuel Tutuba |
| Central bank of | Tanzania |
What are roles of Bank of Tanzania?
The primary objective of the Bank is to formulate, define and implement monetary policy directed to the economic objective of maintaining domestic price stability conducive to a balanced and sustainable growth of the national economy.
Other Functions of the Bank of Tanzania
- Issuance of currency;
- Regulating and supervising commercial banks and financial institutions, including mortgage financing, development financing and lease financing;
- Regulating, monitoring, and supervision of payment, clearing and settlement systems;
- Guardian of the Country’s Reserves;
- Governments’ Bank;
- The Bankers’ Bank; and
- The Advisor to the Governments on economic and financial matters;
