By Azania Post Reporter
THE TPB bank in Tanzania will temporarily suspend some of its services for three days, due to upgrading of its core banking system, the management has said
According to the statement issued by bank’s corporate affairs department, in Dar es Salaam, the services will be halted from today Friday 2 to Sunday February 4, 2018
As a result of this process ATM, TPB popote, agency and internet banking will be unavailable for the stated period, read part of the statement.
However the statement said all bank’s branches will be open to public on Saturday( Feb 3, 2018) and Sunday where as customers will be allowed to deposit and withdraw over the counter.
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.
The 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 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.