Law and role of TIB as a development bank: an empirical study
| dc.contributor.author | Maeda, Martha J. J. | |
| dc.date.accessioned | 2019-07-13T11:58:45Z | |
| dc.date.accessioned | 2020-01-08T11:38:25Z | |
| dc.date.available | 2019-07-13T11:58:45Z | |
| dc.date.available | 2020-01-08T11:38:25Z | |
| dc.date.issued | 1992 | |
| dc.description | Available in print form | en_US |
| dc.description.abstract | This study discusses the Tanzania Investment Bank (TIB) as one of the public institutions which were established after the Arusha Declaration in 1967 with the main objective of enhancing economic development. The study has examined firstly the question of Law and Development, and why economic institutions need to be established by law. The discussion also looked into the question of whether their stated objectives can necessarily be achieved by law. The fact that these public institutions handle public resources has made it imperative for the government to legislate to regulate and control them. As stated above, the basic objective of establishing TIB as a development bank is to bring about economic development. This is the end. The means to achieve that end are to: a) lend money to projects which are technically feasible, financially viable and economically desirable; b) to render technical assistance to ensure success. The law in the form of the TIB Act and operating guidelines and delegated powers there under is designed to ensure this and to safeguard the public interest by ensuring that public money is put to proper use. Secondly, the study has looked into the definition of development in general and in Tanzania in particular. This has then been linked with the role of the TIB in enhancing economic development by channeling resources to projects. Therefore, because the major source of the Bank's financing comes from foreign lenders, the study has also looked into how some policies within the basic framework have been set by the lenders. This is in respect of such issues as interest rates, sources of procurement, economic sectors and their sizes, etc. Thirdly, the study has looked into 'the Bank's operations in light of the above. This has shown how the objectives of the Bank have been realized, the successes and problems affecting it. The question of the legal framework within which the Bank operates has also been discussed. This has brought out certain facts as regards to how they, in some cases, do not conform to the realities of the social and economic situation. The Bank, as is the case of all the public sector institutions, has had to operate within the general commercial laws which have been in operation since the colonial era. The fact that the Arusha Declaration intended to change the social-economic situation by establishing the public sector did not, in reality change the legal framework within which these institutions are supposed to operate. Thus, in pursuing its objectives, the Bank has been guided by sound banking principles. St has endeavoured to finance only the economically sound and technically feasible projects. However, the law and its implementation have meant that the resources of the Bank should be directed mainly to the public sector. We can prove this by the mere fact that lending has to be to those projects which are in the development plan's priority list. Further, currency is involved; the Central Bank has to give approval to grant loans to the private sector borrowers. From the foregoing, it can be said that the laws and practice of development banking which are believed to stimulate or speed-up development have in fact also been used by the state to accumulate wealth. This can be seen in the last chapter where more than 60% of the Bank's resources have been directed to the public sector companies. Finally, this study has discussed the effect of the economic crisis facing the country, the Bank and its clients. Highlights on the effect of the performance and ways by which the Bank tries to overcome them have been dealt with. The study then gives conclusions and some recommendations based on the above | en_US |
| dc.identifier.citation | Maeda, M. J. J. (1992) Law and role of TIB as a development bank: an empirical study, Masters dissertation, University of Dar es Salaam. Available at (http://41.86.178.3/internetserver3.1.2/detail.aspx) | en_US |
| dc.identifier.uri | http://localhost:8080/xmlui/handle/123456789/6242 | |
| dc.language.iso | en | en_US |
| dc.publisher | University of Dar es Salaam | en_US |
| dc.subject | Banks and banking | en_US |
| dc.subject | Tanzania | en_US |
| dc.subject | Financial institutions | en_US |
| dc.subject | Law and legislation | en_US |
| dc.title | Law and role of TIB as a development bank: an empirical study | en_US |
| dc.type | Thesis | en_US |