The Bank of Tanzania (BoT), established on June 14, 1966, under the Bank of Tanzania Act of 1965, serves as the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling, and formulating and implementing monetary policy aimed at maintaining domestic price stability and fostering sustainable economic growth.
The BoT’s headquarters are located in Dodoma, with additional branches in cities such as Dar es Salaam, Arusha, Mbeya, Mwanza, Zanzibar, and Mtwara In recent years, the BoT has played a pivotal role in promoting financial inclusion and economic growth in Tanzania. Its efforts have led to a significant increase in the number of bank accounts in the country, with over 20 million accounts opened in 2020.
The bank has also facilitated the expansion of mobile money services, making financial services more accessible to the population. Additionally, the BoT has implemented various policies to stimulate economic growth, including the introduction of new banking regulations that have increased bank lending to the private sector, thereby contributing to job creation and economic stability.
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