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Bank M assets, liabilities transferred to Azania Bank

Bank of Tanzania headquarters in Dar es Salaam. The banking regulator took over the management of Bank M in August 2018 saying it had critical liquidity problems. PHOTO | NMG

By  REUTERS

REUTERS

Tanzania’s central bank has transferred the assets and liabilities of Bank M to Azania Bank, Deputy Governor Bernard Kibesse said on Tuesday.

The Bank of Tanzania took over the management of Bank M in August saying it had critical liquidity problems and was unable to meet its obligations.

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