The Governor of the Bank of Tanzania, Mr. Emmanuel Tutuba, on November 29, 2023, met with the Tanzanian Bankers Association (TBA) under the stewardship of its Chairman, Mr. Theobald Nsabi, who is also the Managing Director of the National Bank of Commerce (NBC). The meeting held at the Bank’s Sub-head Office in Dar es Salaam discussed various issues pertaining to the growth of the banking sector in the country.

During the meeting, Governor Tutuba urged  banks to strengthen their efforts in lowering the rate of non-performing loans with the aim of strengthening the stability of the financial sector in the country.

Additionally, Mr. Tutuba encouraged banks to adhere to various regulations and guidelines governing foreign currency operations for strenghening the foreign exchange market for ensuring sustainable development of the country.

Also, the Governor reminded banks that starting from January 2024, the Bank will transition from using the quantity based monetary policy and adopt the interest rate based monetary policy framework, he also called upon the sector to cooperate during this transition.