Tanzanian central bank fines Diamond Trust Bank Tanzania Limited

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July 13 2019

Tanzania’s central bank on Saturday said it had fined Diamond Trust Bank Tanzania Limited 1 billion Tanzanian shillings ($435,000) for breaching regulatory rules on data and service availability.

“The Bank of Tanzania (BoT) has imposed a penalty charge of one billion shillings to Diamond Trust Bank … for failure to implement a directive to establish a data center in Tanzania,” the central bank said in a statement e-mailed to Reuters.