Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

When is an insured bank deemed closed?

Bank closed deemed insured
0
Posted

When is an insured bank deemed closed?

0 CommentsAdd a Comment

1 Answer

0

A. An insured bank shall be deemed closed on account of insolvency upon the order of closure by the Bank of Tanzania. Insolvency refers to a situation wherein a banks liabilities exceed its assets resulting in the banks inability to repay its creditors.

0 CommentsAdd a Comment
What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123