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The bank was established under the Bank of Tanzania Act 1965. However, in 1995, the government decided that the central bank had too many responsibilities, thus hindering its other objectives. As a result, the government introduced the Bank of Tanzania Act 1995, which gave the bank the single objective of monetary policy.
This is a list of countries by annualized interest rate set by the central bank for charging commercial, ... Tanzania: 6.00 0.50 4 April 2024 [99]
Series EE bonds issued from November through April 2025 earn a rate of 2.60 percent, while Series I bonds issued during the same period pay a higher 3.11 percent yield, which will fluctuate ...
Redemption value is the price at which the issuing company may choose to repurchase a security before its maturity date. [1] A bond is purchased "at a discount" if its redemption value exceeds its purchase price. It is purchased "at a premium" if its purchase price exceeds its redemption value. [1] Thus, the right will only be exercised at a ...
A spens, Spens, spens clause, or Spens clause is a provision in a security (for example a bond) which allows a borrower to repay the principal amount (and hence discharge their obligation to the lender) earlier than the contractual repayment date, on payment of a specified penalty, also referred to as a "make whole" payment, in excess of the principal (or face value) of the security.
The bank was founded in 1966 by the government of Zanzibar. It functions as a retail bank, serving individuals, small and medium enterprises (SMEs), and large corporate clients. Initially, its service area was limited to the islands of Zanzibar and Pemba. In April 2011, the bank opened a branch in Dar es Salaam on the mainland.
However, the issuer has committed to redeem 5,000 of the 10,000 bonds issued before the bond's maturity date and has further committed to redeem 120 of these at a redemption value of EUR 1,250. This means that any purchaser of a single bond for EUR 1,000 will receive annual interest a little above the bank rate, but will also have a 1.2% chance ...
MTNs can be issued with a fixed maturity date (noncallable) or can be issued with embedded call or put options and triggers where the notes will redeem early based on certain parameters. MTNs are most commonly issued as senior, noncallable unsecured debt of investment grade credit rated entities which have fixed rates. [ 3 ]