Local Currency Clearing

The clearing system in Tanzania is still manual and the exchange of documents/vouchers are done at the Central Clearing which is situated at the Central Banks premises.

The main clearing is done through Dar es Salaam, however there are clearing sessions in towns where a Bank of Tanzania branch exits (Central Bank) that is Mbeya, Mwanza Zanzibar & Arusha. Tanzania handles only cheque clearing there is no credit clearing at present. The clearing days are between 4 and 28 days depending on the location of the branches.

The Central Bank in conjunction with the Tanzania Bankers Association is in the process of establishing a National Payment System, which will cover the clearing system.