{"id":39313,"date":"2021-10-23T17:17:04","date_gmt":"2021-10-23T17:17:04","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=39313"},"modified":"2021-10-23T15:48:14","modified_gmt":"2021-10-23T15:48:14","slug":"invest-in-credit-rating-and-eurobonds-tba-advises","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/invest-in-credit-rating-and-eurobonds-tba-advises","title":{"rendered":"Invest in credit rating and eurobonds, TBA advises"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>Dar es Salaam.<\/b><\/p>\n

Tanzania Bankers Association (TBA) said yesterday that industry players need to think in medium and long-term by embracing credit rating investment for the long-term development of the country.<\/p>\n

TBA vice chairman Sanjay Rugani said this during the Mwananchi Communications Limited (MCL)\u2019s financial sector reform symposium themed: Growth, challenges and future of the financial sector.<\/p>\n

He said the banking industry needs to think about credit rating that includes green bonds and eurobonds loans that are important for the development of the country which calls for significant reforms to move the sector forward.<\/p>\n

\u201cIt\u2019s important to have a friendly environment, with too many processes, laws, policies, we need to find a situation where 75 percent do business on one page -we should be doing the right KYC,\u201d he said.<\/p>\n

According to him, the laws for large business and small and medium business should be the same. He noted that more businesses should accept to pay levies which ultimately become profitable for the government.<\/p>\n

On financial inclusion, he said 60 years down the lane, only 23 percent of the population use banks with only 4 to 5 percent using banks every day.<\/p>\n

\u201cOne or two banks in Kenya make more profit than our 54 banks, this is despite being economically viable, the economy growing constantly at 6 percent in two decades,\u201d he said.<\/p>\n

On collateral, he said there was a need for a fin take environment by embracing startups looking at modules for collaterals.<\/p>\n

He noted that the country needed to be more resilient because the world was changing rapidly with an example of Covid-19 which brought about so much uncertainties.<\/p>\n

Explaining, he said the banking sector had gone through major reforms in the last 60 years where in the past telegraphic transfer could take up to 23 days but down the lane it now takes only one day or even half a day, among many other developments.<\/p>\n

In another development, CRDB Bank chief operations officer Bruce Mwika said the banking industry played a major role on the value chain of major infrastructure projects as well as government strategic projects by providing loans to investors that were managing them.<\/p>\n

However, he noted that they have been facing major challenges in the form of invoice discounting in which a majority of employers delay payments and ultimately affecting the entire value chain.<\/p>\n

\u201cSome employers refuse to sign the tripartite agreements that affect the entire value chain,\u201d he continued to stress during the symposium.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. Dar es Salaam. Tanzania Bankers Association (TBA) said yesterday that industry players need to think in medium and long-term by embracing credit rating investment for the long-term development of the country. TBA vice chairman Sanjay Rugani said this during the Mwananchi Communications Limited (MCL)\u2019s financial sector reform symposium themed: Growth, challenges and […]<\/p>\n","protected":false},"author":84,"featured_media":39312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-39313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nInvest in credit rating and eurobonds, TBA advises - Tanzania<\/title>\n<meta name=\"description\" content=\"Dar es Salaam. 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