Probe interest rates, say MPs

By Bernard James, Dodoma

Members of Parliament have once again hit out at private money lending companies over high interest rates and urged investigations by the Bank of Tanzania (BoT).

Mbozi West legislator Godfrey Nzambi, who recently took a swipe at Bayport Financial Services, yesterday accused the mushrooming money lenders of milking civil servants. More...


[SOURCE: THE CITIZEN]

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It is nice to see our MPs take a stance on soaring interest rates. What are your views on MP Nzambi's comments? Do you agree with BoT probing private Banks and Non-Banking Financial Institutions, or do you think the market should be let free to regulate itself? In your opinion, how can Tanzania control these rising interest rates? What role should the Government; BoT; Private Banks; NBFIs play?