The Bank Of Tanzania (BOT) Is The Central Bank Of The United Republic Of Tanzania, Headquartered In Dar Es Salaam, And Is Responsible For Issuing The National Currency, The Tanzanian Shilling.
History
Before World War I, Tanzania And The Zanzibar Islands Used Currencies Issued By Different Institutions, Because Tanzania Was Under German Colonization At That Time, And The Zanzibar Islands Had Their Own Regime. After World War I, Tanzania Was Handed Over To The United Kingdom As A British Colony. In December 1919, The United Kingdom Established The East African Currency Board (EACB), Which Was Mainly Responsible For Issuing Local Currency At A Fixed Exchange Rate With The British Pound. After World War II, Tanzania Became Independent On April 26, 1964, And The East African Currency Board Began To Dissolve. The Following Year, The New Government Promulgated The Bank Of Tanzania Act (1965), Which Officially Established The Bank Of Tanzania On June 14, 1966.
Organizational Structure
The Bank Of Tanzania Is Governed By A Board Of Directors Composed Of Ten Members. The President And Three Vice Presidents Are Directly Appointed By The President, A Total Of Four Ex Officio Executive Directors, And Then The Minister Of Finance Appoints Two Other Ex Officio Executive Directors And Four Non-executive Directors. The Board Of Directors Has Three Advisory Committees To Assist In The Office. The Governor Of The Bank Of Tanzania Is Assisted By Three Deputy Governors And Is Responsible For The Formulation Of Administrative, Economic And Financial Policies.
Successive Governors
