Commercial Banks Cashing In After Forex Shops Closure in Tanzania
In the wake of the Bank of Tanzania closing at least 50 bureaux de change in Dar es Salaam, some for operating illegally, commercial banks are aggressively marketing their foreign exchange services to fill the void. A number of banks have introduced mobile facilities at the Julius Nyerere International Airport where people can change currency and withdraw money.
Over 50 bureaux de change in Dar es Salaam remain closed as the Bank of Tanzania continue conducting inspections into their undertakings. Preliminary findings by the regulator ... Read more »
At least 10 Dar es Salaam bureaux de change have closed. Insiders say the number could rise to at least 100 countrywide as the December 31 deadline for the implementation of new ... Read more »
Tax evasion and unlicensed traders are some of the reasons for the shutdown in November by President John Magufuli. This as the country's Reserve Bank Governor Florens Luoga ... Read more »
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