Bank of Tanzania (BoT) is making it easy for banks to lend in a new policy, dropping the requirement for a national identification card to register bank agents while lenders would only require 18 months’ business experience.
According to BoT Governor Prof Florens Luoga, this policy is expected to contribute to an increase in loanable funds to banks through deposit mobilisation. BoT also intends to lower lending rates to the private sector.
