UmojaSwitch Consortium Signs a contract of Funds
Transfer Agreement with Business Connexion.
The UmojaSwitch,
a Consortium of six
banks namely Azania, Akiba,
Eurafrican, Dar Es Salaam community, Twiga Bancorp and
Tanzania Investment Bank, on 13th December 2006,
signed a contract for Fund Transfer Agreement with Business
Connexion
to set into motion the shared
card payment switching infrastructure in Tanzania.
The event which
was held recently at the Kilimanjaro Kempinski Hotel, Dar es
Salaam was
graced by the Deputy Minister for Finance
Hon.
Abdisalaam Issa Khatibu(MP) who commended the UmojaSwitch
members for pioneering the start of the first switching
infrastructure in the country of its magnitude in terms of
the number of participating banks, the number of ATMs to be
installed over a span of five years and the envisaged
outreach of the infrastructure.
Read the Deputy Minister's speech
Read the UmojaSwitch Chairman's speech
Picture gallery
of the signing ceremony
10th
Annual General Meeting
The Tanzania Bankers Association (TBA) on 5th
December 2006 held its 10th Annual General Meeting at the
Kilimanjaro Kempinski Hotel,
Dar es Salaam. The Association’s membership has grown from
7 founding members in 1995 to 27 members
todate.
Closing the Association’s 10th Annual General Meeting, the
Chairman, Mr. Mayank Malik thanked all members for their
full involvement in the affairs of the Association in the
previous years and expressed hope that this positive trend
would continue in the coming years for the benefit of the
entire banking industry.
Visit TBA photos at the 10th
Annual General Meeting.
TBA
Public Lecture Held on 20th April
2006. Theme: "The Role of Courts in Supporting Financial
Sector Reforms in Tanzania"
Tanzania Bankers Association (TBA) in line with the
Association's Public Relations Activity plan, held its first
and successful Public Lecture event on 20th April 2006 at
the Kilimanjaro Kempinski Hotel, Dar es Salaam whereby
Justice Dr. S. J. Bwana, Judge Incharge, High Court of
Tanzania, Commercial Division, presented a paper on
“The Role of Courts in Supporting Financial Sector Reforms
in Tanzania”.
The event was graced by the Deputy Minister for Finance,
Hon. Abdisalaam I. Khatib. A total of 110 participants from
Government, the Financial Sector, Representatives from IMF
and World Bank and the Business Community attended.
The new confederacy of minds between bankers and lawyers has
expressed concern that excessive litigation and delays
occasioned by courts are a stumbling block impinging on the
existence of a healthy banking industry in Tanzania. The
Chairman of the Tanzania Bankers Association (TBA), Mr.
Mayank Malik told a public lecture in Dar es Salaam that
courts had their share of blame when it came to dealing with
loan defaulters. ‘Injunctions, for example have made banks
incur unnecessary expenses in addition to loss of income and
disrupted cash flows due to delayed payments’, said.
Address
by the Guest of Honour, Hon. Abdisalaam I. Khatib
Paper
Presented by Dr. Steven J. Bwana
Mayank Malik Re-elected as Chairman
of the Tanzania Bankers Association (TBA)
The
Tanzania Bankers Association (TBA) elected its office
bearers at
the 9th Annual General meeting of the Association held on
December 7th, 2005. The members unanimously re-elected Mr.
Mayank Malik, Managing Director & CEO of Citibank Tanzania
Limited as the Chairman and Mr. Charles Singili, CEO
of Azania Bancorp Limited as the Vice Chairman of the
Association for the period 2006 - 2007. Mr. Iddi Msonga was
elected as the Honorary Treasurer for this period and Mr.
Pascal Kamuzora continues in his full time capacity as the
Executive Director of the TBA.
The
Tanzania Bankers Association (TBA) is
the official industry
association of all banks and financial institutions, local
and foreign, licensed to carry out banking and financial
services business in
Tanzania. The Association currently has 27 members.
The Association, founded in 1995 and registered under the
Societies Ordinance Cap. 337 of 1954, has as its objects,
facilitation of matters affecting the provision of all
banking services in the country, developing and maintaining
a code of ethics, rules and regulations governing members in
banking transactions/dealings with customers and amongst
themselves, ensuring members conduct their business in
accordance with governing laws, ethics and internationally
accepted standards, promoting training of staff and working
closely with the Bank of Tanzania as well as the Government
in the promotion of the banking sector as an integral part
of the economic development of the country.
Fighting Frauds and Forgeries
As part of
strategies to fight bank frauds and forgeries, TBA in
collaboration with Barclays Bank Tanzania held a half day
workshop on preventing and detecting bank frauds and
forgeries. This workshop, which was facilitated
by
security and investigation experts from Barclays South
Africa Ms.
Gill Smith and Mr. Derick de Beer, was attended
by 25 participants from member banks and officials from the
Bank of Tanzania.
The main
emphasis was on ‘proper communication and the need for
banks to work together as a team to combat fraud’.
Banks were advised to develop a fraud prevention strategy
which should encompass; code of conduct, fraud prevention
policy, as well as developing a well articulated fraud
response plan. Banks were further advised to adopt a
“Zero fraud tolerance policy” as evidence of
commitment to fight against frauds.
TBA Vice
Chairman and CEO of Azania Bancorp Limited, Mr. Charles G.
Singili officiated the workshop. Below are his opening
remarks:
TBA Vice Chairman’s Opening remarks.
TBA Conference
held on 08th March 2005: Theme:"The Role of Banks in
Facilitating Economic growth in Tanzania"
The Tanzania Bankers Association held its
first and successful Conference on 8th March 2005 at the
Golden Tulip Dar es Salaam. This Conference was opened by The
Minister for Finance Hon. Basil P. Mramba who
challenged banks to increase their lending to various
sectors of the economy including informal sector.
The Conference was attended by
representatives from the Government, Financial Sector,
Business Sector, Private Sector, NGOs and Law firms.
The following five papers
were presented
and discussed at the Conference:
-
An Overview of Banks’ Pricing Mechanism on
Deposits and Loans.
-
The Role of Courts in Facilitating Loan
Recovery: Tanzania Experience.
-
The Land Reform in Tanzania: Opportunities
for Agricultural and Mortgage Finance.
-
Microfinance in Tanzania: Practical
Experience; and
-
Private Sector Perspective on the Role of
Banks in Tanzania.
For more information, please follow the links:
Read Finance
Minister's Statement
Read TBA Chairman's Speech
An Overview of Banks’ Pricing Mechanism on
Deposits and Loans.
The Role of Courts in Facilitating Loan Recovery.
The Land Reform in Tanzania: Opportunities
for Agricultural and Mortgage Finance.
Microfinance in
Tanzania: Practical Experience
Visit TBA Conference picture gallery
