Tanzania

Deposit Insurance Board (DIB), Tanzania

 

About DIB

 

Establishment

The Deposit Insurance Board (DIB) was established under the Banking and Financial Institutions Act of 1991 (BFIA 1991) and commenced its operations in 1994. Following the repeal of BFIA 1991, DIB exists under, and derives its mandate from, the Banking and Financial Institutions Act No. 5 of 2006.

Objectives

The main objective of DIB is to provide protection to depositors against the risk of loss of their deposits arising from failure of a bank or deposit taking financial institution.

Mandate

DIB’s mandate is that of pay box plus in the sense that it can only (i) engage in reimbursement of insured deposits where a bank fails, and, (ii) conduct liquidation when it is appointed to do so by the Bank of Tanzania.

Vision

To be the most reliable Deposit Insurer in East Africa

Mission

To promote public confidence in the banking sector and thereby contribute to financial stability through protection of deposits

Core values

  • Integrity: We highly adhere to ethical standards in performing our duties and responsibilities in support of our mission.
  • Accountability: We perform our duties transparently and remain accountable to our stakeholders.
  • Communication: We effectively communicate and collaborate with our stakeholders.
  • Team work: We embrace multidisciplinary teamwork.
  • Excellence: We perform our duties professionally, embrace creativity, timeliness and innovativeness in improving performance.

DIB Key Stakeholders

Mr. Isack N. Kihwili
Mr. Emmanuel M. Tutuba
Director
Chairman of the Board

 

List of Board Members

In accordance with the law, DIB Board is comprised of the following members: Governor of the Bank of Tanzania (Chairman); one representative from the Ministry of Finance of the United Republic; Principal Secretary-Ministry of Finance of the Revolutionary Government of Zanzibar; and three other members appointed by the Minister for Finance.

  • Mr. Emmanuel Mpawe Tutuba, Chairman
  • Dr. Juma Malik Akil (represented by Ms. Shaheen Fauz Mohammed), Director
  • Dr. Mussa Charles Juma, Director
  • Mr. John Athanas Rubuga, Director
  • Ms. Tiba Eugen Kisonga, Director 
  • Ms. Fatma Mtumweni Makame, Director

 

Names, titles and contacts of Executive Management Members/Heads of Departments

NAME DESIGNATION CONTACTS
 Mr. Isack N. Kihwili  Director  inkihwili@bot.go.tz
 Mr. Rashid S. Mrutu  Manager - Corporate   Services Department  rsmrutu@bot.go.tz
 Mr. Nkanwa Magina  Manager - Operations   Department  ngmagina@bot.go.tz

 

Contact information

  • Physical address : Bank of Tanzania Sub-Head Office, 11th Floor, 11884  2 Mirambo, Dar es Salaam,Tanzania
  • Phone Number : +255 22 223 5390
  • Email address : dib-info@bot.go.tz
  • Website : www.dib.go.tz