Closed forex outlets in Dar es Salaam on February 28, 2019. PHOTOS | BEATRICE MATERU
Most forex trading shops remained closed in Tanzania's
commercial capital Dar es Salaam on Thursday as uncertainty continues to
shroud the currency exchange market.
The EastAfrican
has learnt that officials from the central bank and the Tanzania
Revenue Authority raided some privately-owned bureaux de changes on
Wednesday evening.
Contacted for comment, the Bank of
Tanzania spokesman Mr Lwaga Mwambande said they would "let the public
know what is going on in due time."
"There is no
business here today, we’ve been told the office won't operate until
maybe tomorrow or the day after," a guard at one of the outlets told
this paper on Thursday.
Last year, the Bank of
Tanzania carried out a six-month investigation, which revealed rampant
fraud in the forex market business, with several traders involved in
money laundering.
As a result, the
regulator used the military to seal off suspicious forex bureaus in the
northern tourist hub, Arusha, as central bank officials raided the
outlets.
BoT also suspended the licensing of new forex bureaus and barred suspect commercial banks from the interbank forex markets.
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