Dar es Salaam, Feb. 12 -- THE Deposit Insurance Board (DIB) has paid 9.09bn/- to 928 eligible Tanzanian creditors of FBME Bank.

The Bank of Tanzania (BoT) placed FBME under DIBs liquidation in 2017 after the US Financial Crimes Enforcement Network (FinCEN) accused the bank of facilitating money laundering for several years.

The Director of the Deposit Insurance Board (DIB), Mr Isack Kihwili, said yesterday that following a series of meetings held April and September last year, a special committee formed to oversee the matter reviewed and approved the first phase of liquidation payments, set at 30 per cent of eligible claims.

As of December, last year, DIB reported that a total of 928 out of 1,414, or 65.6 per cent of eligible Tanzanian...