The Bank is mandated under the Bank of Tanzania Act, 2006 to have the sole right to issue banknotes and coins in and for Tanzania, which shall be the only legal tender in Tanzania. The Bank is therefore responsible for designing and procuring banknotes and coins to meet the currency needs. The unit of currency in Tanzania is the Shilling, each of which is divided into one hundred cents. The Bank ensures that its currency possesses qualities of a good currency, namely:
To achieve and maintain these features, the Bank is implementing a clean money policy and it provides awareness to the public through its various programs including participation in trade fairs such as Saba Saba and Nane Nane Exhibitions.
The Bank ensures that issuance and distribution of new and serviceable bank notes as well as collection and processing of bank notes deposited by commercial banks is timely done to optimize cost and efficiency. To ensure that this objective is attained, the Bank has invested in enabling infrastructures, which include branches and safe custody centers. Currently, the Bank has six branches and eight safe custody centers hosted by commercial banks throughout the country. It is the responsibility of the Bank to ensure that there is always an adequate stock of banknotes and coins available in all denominations from the branches and safe custody centers to support economic needs.