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Bank of Tanzania dispels Islamic bank closure rumours

Bank of Tanzania. The bank has moved to prevent a possible run on deposits at the sharia-compliant Amana Bank after reports circulated on social media of the financial institution’s imminent closure. PHOTO FILE | NMG

By  VICTOR KAREGA

The Bank of Tanzania has moved to prevent a possible run on deposits at the sharia-compliant Amana Bank after reports circulated on social media of the financial institution’s imminent closure.

BoT Governor Florens Luoga said that Amana Bank and other lenders were stable and there was no cause for panic over deposits.

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