Bank of Tanzania
The Bank of Tanzania (Swahili: Benki Kuu ya Tanzania) is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling.
| Headquarters | Chamwino P.O Box 2303 40184 Dodoma, Tanzania |
|---|---|
| Coordinates | 6°48′57″S 39°17′39″E |
| Established | 14 June 1966 (began operations) |
| Ownership | 100% state ownership |
| Governor | Emmanuel Mpawe Tutuba |
| Central bank of | Tanzania |
| Currency | Tanzanian shilling (TSh) TZS (ISO 4217) |
| Reserves | US$3 930 million |
| Preceded by | East African Currency Board |
| Website | Central bank website |
The bank was established under the Bank of Tanzania Act 1965. However, in 1995, the government decided that the central bank had too many responsibilities, thus hindering its other objectives. As a result, the government introduced the Bank of Tanzania Act 1995, which gave the bank the single objective of monetary policy.
It is governed by a board of directors consisting of ten people, four of whom are ex officio members which have three advisory committees that can assist them. The bank is headed by its Governor, assisted by three deputy governors in Administration, Economic and financial policies and Financial stability.