TIB
Development Bank Vacancies (10 Jobs)
TIB
Development Bank, formerly known as Tanzania Investment Bank (TIB), is a
government-owned
development bank in Tanzania. The bank is the first development finance
institution established by the Government of Tanzania. The activities of TIB
are supervised by the Bank of Tanzania, the central bank and national banking
regulator.
TIB
is registered as a Registered Financial Institution.
The
bank was established by Act of Parliament in 1970. At that time, the main
objective of TIB was to provide “medium and long-term loans to investors in
commercial agriculture, manufacturing, processing, construction, transport,
tourism and mining sectors”.
However,
due to economic hardships, including a war with Idi Amin of neighboring Uganda
and foreign currency exchange fluctuations within the Tanzanian economy, the
bank became unable to service its financial obligations. To mitigate financial
losses, TIB resorted to making short-term loans and to function like a
commercial bank. The period between 1980 until 2003 was particularly hard on
the bank.
Closing
Date is 30th July 2018
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