Legal UpdateClient Update: Central Bank puts Bank M under Supervision, The detailed procedure and the Legal Implications
16 August 2018by finandlaw-admin
INTRODUCTION On Thursday of August 2, 2018 the Governor of the Central Bank of Tanzania/Bank of Tanzania (“BOT”) declared that BOT had resolved to put Bank M Tanzania Plc (“Bank M”) under statutory management following its liquidity inadequacy leading to its failure to meet its obligations including paying maturing obligations. The BOT’s intervention is meant...