Tanzania Sees Expansion of Islamic Banking

Two Tanzanian banks have recently announced their intention to expand their portfolio of Islamic Banking products.

National Bank of Commerce (NBC) which started its Islamic banking solutions on 2010 recently announced that this line of products is now open to all its clientele regardless of their religion.

Azaniabank has also recently announced its intention to join the growing number of banks in tanzania that provide is sharia banking products.

Tanzania saw the opening of the first fully sharia complaint bank in 2011 when Amana bank was granted its first provisional license.