Economic History Commons^™

The Bank Of Tanzania (Bot) As The Custodian Of The Tanzanian Economy: Opportunities And Challenges, Conrad John Masabo Mr.

Conrad John Masabo Mr.

When Tanzania embarked on fundamental transformation of its economy almost two decades ago one of the top agenda in the economic reforms was the need to overhaul the financial system. And in view of pivotal role it plays in the country’s economy, the banking sector was the first to undergo reforms. Implementation of the reforms followed recommendations of the Presidential Commission on the need to modernize the banking sector dubbed the Nyirabu Commission. The BOT Act of 1995 was a landmark in Tanzania’s monetary history by adopting a single policy objective, i.e. price stability and moving away from multiple-policy objectives. …