BANK OF TANZANIA, Notice of Public Auction – January 2024
The Bank of Tanzania (BoT) serves as the central bank and monetary authority of the United Republic of Tanzania. Established in 1965, the BoT operates under the Bank of Tanzania Act and plays a pivotal role in formulating and implementing monetary policies to ensure price stability and sustainable economic growth. It operates independently and is accountable to the government. The BoT formulates and implements monetary policies aimed at maintaining price stability and promoting economic growth. It manages key monetary instruments such as interest rates and reserves to achieve these objectives. As the sole issuer of the Tanzanian shilling (TZS), the BoT is responsible for currency issuance and regulation. It ensures an adequate supply of currency to meet the demands of the economy. The BoT acts as the government’s banker and financial advisor. It manages the government’s accounts, facilitates borrowing, and assists in debt management. The BoT serves as the banker to other banks operating in Tanzania. It provides essential banking services, including maintaining reserves and facilitating interbank transactions. It manages foreign exchange reserves and implements policies to stabilize and regulate the foreign exchange market. This includes interventions to influence the exchange rate. The BoT regulates and supervises banks and financial institutions to maintain a stable and transparent financial sector. It enforces prudential standards to ensure the integrity of the banking system. The Bank of Tanzania plays a crucial role in fostering economic stability, financial integrity, and sustainable development within the country. Its activities are instrumental in shaping the monetary landscape and supporting the overall economic well-being of Tanzania.
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