Close

REVOCATION OF BANKING LICENCES AND COMPULSORY LIQUIDATION FOR FIVE BANKS

Pursuant to the provision of section 56(1)(g), 56(2)(a),(b) and (d), 58(2)(i), 11(3)(c) and (j), (61)(1) and 41(a) of the Banking and Financial Institutions Acts, 2006, the Bank of Tanzania has decided to take possession of; and place under compulsory liquidation of the following banks:

  1. Covenant Bank For Women (Tanzania) Limited;
  2. Efatha Bank Limited
  3. Njombe Community Bank Limited;
  4. Kagera Farmers’ Cooperative Bank Limited; and
  5. Meru Community Bank Limited.

Further, in line with its mandate under Section 41(a) of the Banking and Financial Institutions Act, 2006; the Bank of Tanzania has appointed the Deposit Insurance Board (DIB) as the liquidator of the aforesaid banks effective from 4th January 2018

REVOCATION OF BANKING LICENCES AND COMPULSORY LIQUIDATION FOR FIVE BANKS

Related Posts