By Daily Times Reporter
Dubai: The Governor of the Bank of Tanzania, Mr. Emmanuel Mpawe Tutuba, on Thursday paid a high-level visit to the Exim Credit Bank (ECB) headquarters in the United Arab Emirates.
The pivotal meeting marked a significant milestone in promoting financial inclusion and reinforcing Tanzania’s trade export potential through targeted financial instruments and institutional cooperation.
The high-level visit discussed issues surrounding financial inclusion strategies, particularly tailored to support Tanzania’s growing needs in the global trade environment.
Mr Tutuba emphasized the critical role that inclusive financial services play in empowering local exporters, boosting employment, and driving GDP growth through well-structured trade facilitation programs.
In line with this, the Governor applauded the initiative of Exim Credit Bank (ECB) for its commitment to supporting Tanzania’s trade ambitions and financial sector transformation.
Exim Credit Bank CEO, Mr. Joseph R. Waryoba, pledged the bank’s full commitment to invest in facilitating export guarantees and working capital financing in Tanzania. This support will be channeled through ECB’s Tanzanian subsidiary, Export Credit Financial Services, which aims to act as a catalyst for trade development, especially among small and medium-sized exporters.
“Exporters in Tanzania need not only access to markets but also access to affordable and reliable financing. Through our Export Credit Financial Services, we are positioning ourselves to bridge this financing gap and support the government’s economic agenda,” said Mr. Waryoba.
One of the key outcomes of the meeting was the mutual agreement between Governor Tutuba and CEO Waryoba to introduce Sharia-compliant financial products into Tanzania’s financial market.
This move is expected to diversify the financial tools available in the country and attract a broader range of investors and clients, particularly those seeking ethical and faith-based financial solutions.
“Sharia-compliant finance offers robust solutions for trade and investment, and integrating these products into our financial system will provide more inclusive options for Tanzanians,” Governor Tutuba commented.
Both leaders expressed optimism that the strengthened collaboration between the Bank of Tanzania and Exim Credit Bank (ECB) will pave the way for a more resilient and diversified economy, with enhanced focus on trade facilitation, financial technology, and capacity building for exporters.
