Public Notice from BOT regarding FBME Bank

Public Notice from BOT regarding FBME Bank

bot

BANK OF TANZANIA

PUBLIC NOTICE

Further to the Bank of Tanzania [“Bank”] Press Realease, which was issued on 20th July 2014 regarding FBME Bank Limited, the Bank wishes to inform the general public that, Central Bank of Cyprus (CBC) on Friday, 18th July look over the management at the operations of the branch of FMBE Bank Ltd in Cyprus, following the issuance of Notice of Findings by the USA’S Finachial Institution of Primary Money Laundering Concern.

In View of the decision by CBC to take over FBME Bank’s branch in Cyprus and the effects these developments may have on the banking system n Tanzania, the general public is hereby notified that the Bank of Tanzania, in compliance with the provisions of Section 56(1){g}(iii) of the Banking and Financial Institutions Act, 2006 has taken over the management of the FBME Bank Tanzania effective 24th July 2014. The objective underlying this decision of the Bank of Tanzania is to ensure safety of customers’ deposits and safeguard the stability of the entire banking system.

While the bank is under the Bank of Tanzania Management, the public is further notified that the bank’s operations will continue smoothly.

BANK OF TANZANIA

Leave a Reply

Your email address will not be published. Required fields are marked *