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The Headquarters, of The Bank of Tanzania in Dar es Salaam. The Bank of Tanzania (Swahili: Benki Kuu ya Tanzania) is the central bank of the United Republic of Tanzania.It is responsible for issuing the national currency, the Tanzanian shilling.
Prices in the Tanzanian shilling are written in the form of x/y, where x is the amount above 1 shilling, while y is the amount in cents.An equals sign or hyphen represents zero amount.
Significant measures have been taken to liberalize the Tanzanian economy along market lines and encourage both foreign and domestic private investment.Beginning in 1986, the Government of Tanzania embarked on an adjustment program to dismantle the socialist economic controls and encourage more active participation of the private sector in the economy.
The exchange was the idea of President Jakaya Kikwete, who wanted to emulate a similar model in Tanzania after visiting the Ethiopia Commodity Exchange. [6] The exchange was licensed by the Capital Market and Securities authority of Tanzania and incorporated on 25 August 2014. [ 7 ]
In 2015 the bank management declared that the bank will list the bank on the Dar es Salaam Stock Exchange, in order to raise capital to expand and automate the companies operations. [6] On January 19, 2017, the bank officially rebranded the company and Tanzania Postal Bank Limited changed its name to TPB Bank Plc.
As of December 2021, according to its annual report, published on the bank's website, the bank's total assets were valued at TSh 1.372 trillion (US$590.3 million), assuming an exchange rate of 2,322/45 per US dollar, with shareholders' equity of TSh 170.843 billion (US$73.6 million).
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KCB Bank Tanzania Limited, also KCB Bank Tanzania, is a commercial bank in Tanzania.It is one of the twenty-nine (29) banks licensed by the Bank of Tanzania, the country's banking regulator. [1]