Hints on Islamic Banking in Tanzania.

Bismillahir Rahmanir Rahim.


Milestones of Islamic Banking in Tanzania.


+June, 2008. KCB Bank Tanzania, becomes the first bank to launch Islamic banking deposit products in Tanzania market. The accounts widely known as Amana accounts.
+July, 2009. East AFRITRAC and IMF organises Seminar on "Oversight of Islamic Finance" in Da r es Salaam.
+Dec, 2009. KCB Bank Tanzania, becomes the first bank to launch Sharia compliant Finance under  Murabaha contract targeting business segment.
+May, 2010. Stanbic Bank Tanzania introduced Sharia banking deposit products.
+May, 2010. NBC launched Islamic banking deposit products.
+May, 2010. NBC conducts Islamic Banking Workshop in Zanzibar.
+May, 2010. TAMPRO SACCOS launched to operate on Islamic Finance principles.
+June, 2010. For the first time some people who dont understand Islamic Banking expressed their dissatisfaction with steps taken by the three banks on the media.
+Jan 2011, People's Bank of Zanzibar opens the first Islamic banking branch in Mwanakwerekwe, Zanzibar.
+Nov 2011. First full fledged Islamic Bank launched known as "Amana Bank Limited."