Tanzania Postal Bank

As part of the Financial Sector Reform Programme, Tanzania Postal Bank (TPB) was established by the Tanzania Postal Bank Act No.11/1991 as amended by Act No.12 of 1992. This bank became operational as a separate entity from the then Tanzania Posts and Telecommunications Corporation (TP&TC) from 1st March 1992 with its own Board of Directors and Management. It was established as a successor to the Tanganyika Post Office Savings Bank (TPOSB), which was established by the Post Office Savings Bank Ordinance of 1925 and became operational in 1927. The creation of this new bank took into account its strengths and particularly the advantage of canvassing the masses both in urban and rural areas. The TPB Act that was passed by the Parliament addressed itself to some of the basic problems, which were besetting TPOSB performance. Among others, it provided for a legal framework that made it a corporate body.