As may be recalled, in exercising
of its powers under Section 56(1) (g)(iii) of the Banking and Financial
Institutions Act, 2006, the Bank of Tanzania took administration of Yetu
Microfinance Bank Plc effectively from 12th December 2022 following
determination that the bank had critical liquidity and capital problems.
Following the takeover, Bank of
Tanzania suspended normal business operations of Yetu Microfinance Bank Plc for
a period of ninety days to allow the Bank to determine appropriate resolution
option. Accordingly, Bank of Tanzania wishes to inform the public that the
process of determining resolution option has not been completed thus extends
administration of the bank for a period of thirty (30) days effective 12th
March 2023.
The Bank of Tanzania assures the
public that it will continue to protect the interests of depositors and
maintain stability of the banking sector.
GOVERNOR BANK OF
TANZANIA
No comments :
Post a Comment