The Bank of Tanzania (BoT) has given
yet another chance to bank customers to update their personal
particulars for another six months starting from March 16 to September
15 this year.
A statement issued by BoT noted that the
extension followed consultations with the Ministry of Finance and
Economic Affairs and was ultimately granted by the minister, Dr William
Mgimwa.
"This is to inform the general public
that the Minister for Finance has extended the deadline for
updating/regularizing all customer accounts in banking institutions, as
required under the Anti-Money Laundering Regulations, GN No 289.
"The extension covers a period of six
months beginning March 16, 2013 to September 15,2013," noted the BoT
statement on Monday.
BoT also noted that customers of banking
institutions are urged to utilize this extended period to furnish their
banker with the required information in order to avoid inconveniences
that may arise for not updating/regularizing their accounts before that
date.
The extension came as a relief to
hundreds of customers who are reportedly yet to heed the call to update
their particulars. The 'Daily News' on Monday witnessed customers in
some major banks scrambling for forms which became scarce and had to be
photocopied.
Long queues formed in and outside bank
branches as customers waited to update their accounts. Reacting to the
news of the second extension, University of Dar es Salaam economist Dr
Lenny Kasoga said the BoT directive requiring banks to update the
particulars of their customers should also make it easier for those
outside the country to send their information to their banks.
"The decision is well-intentioned, but
there should be no assumption that all people operating bank accounts
are actually in the country," he said. He said he would have expected
BoT to allow banks to compile customer particulars online since not all
of them are necessarily in Tanzania.
He praised the extension noting that
even those who are not in Tanzania can conveniently forward their
particulars to their banks. Some banks had complicated requirements such
as letters of employers, letters of local area leaders, bills of
utility companies and three sureties.
But according to some customers, the
requirements have been reduced to voters' cards and passports for some
banks. "The exercise is now easier and quicker as compared to the first
announcements last year," said Mcharo Dennis, a customer at CRDB.
In Monday's statement, BoT urged members
of the public to comply with the requirement in order to avoid the
consequences that might result from failure to adhere to the directive.
Source: The Daily News, www.dailynews.co.tz,reported by Abduel Elinaza in Dar es Salaam
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