Dar es Salaam, March 18 -- DAR ES SALAAM: The Peoples Bank of Zanzibar (PBZ) has called on Tanzanians to invest in its new bond product, Zanzibar Sukuk, as a means of economic empowerment.

Speaking at an Iftar event in Dar es Salaam, PBZ Managing Director Arafat Haji emphasized the benefits of the bond, which aligns with Islamic financial principles.

Haji highlighted that the government of Zanzibar, under the leadership of President Dr. Hussein Ali Mwinyi, has introduced this bond to encourage citizens to invest in the countrys development.

The Zanzibar Sukuk bond offers an attractive profit rate of 10.5 percent per year in Tanzanian shillings and 4.2 percent per year in US dollars.

“The purpose of this bond is to raise funds fo...