
Why Does A Bank Go Through Statutory Administration?
The Bank of Tanzania (BoT) placed Yetu Microfinance Bank Plc (Yetu bank) into statutory administration on December 12, 2022, in accordance with Section 56(1)(g)(iii) of the Banking and Financial Institutions Act of 2006. As a result, the BoT suspended Yetu’s normal business operations for 90 days, until March 12, 2023. However, on March 13, 2023, […]