 |
| President Samia Suluhu Hassan inaugurates Bank of Tanzania's newly constructed building in Mwanza recently. She is flanked by BOT Governor, Prof. Florens Luoga and other Government officials. |
President Samia Suluhu Hassan has ordered the Bank of Tanzania (BOT) to take appropriate measures to address high interest rates, calling for reasonable levels for lenders.
The President said Financial Institutions needed to cut real interest rates in line with measures implemented by the Central Bank, and suggested that rates for short-term loans should be cut to below 10 per cent.
President Samia also urged the Central Bank to put in place strategies to encourage and create a conducive environment for Financial Institutions in the country, including Banks, so that they can provide long-term loans.
The Head of State issued the directives after inaugurating BOT's new zonal officebuilbing in Mwanza recently, wondering why Banks were still charging high interest rates despite measures being taken by the Government to lower interest rates.
No comments:
Post a Comment