The Bank of Tanzania has announced a significant relaxation of Bureau de Change regulations. This move is aimed at strengthening the formal financial system and alleviating the dollar shortage in Tanzania.
Dr. Lusajo Mwankemwa, a senior economist at BoT's Directorate of Economic Research and Policy, highlighted this pivotal decision during a media training session on the new interest rate-based policy framework held in Zanzibar over the weekend. The move aims to transition dollars from the informal sector into the official system, facilitating easier access and utilization. With 18 bureaus de change operating and several more in the application pipeline, the BoT asserts that implementing these policies will address the challenges posed by the global crisis and Improve the country's financial stability.
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Attended NUST Namibia
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