Tanzania: Leading Banker Applauds BoT Licensing of Credit Bureaux

LICENSING of two private Credit Reference Bureaux (CRB) by Bank of Tanzania (BoT) will help to reduce lending interest rates although more needs to be done to tackle defaulters.

The Barclays Bank Tanzania Managing Director, Mr Kihara Maina, commended the central bank for licensing operators of CRB who will help banks to identify clients before extending loans. "Introduction of Credit Reference Bureaux is welcome.

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