Dar es Salaam, June 2 -- Yetu Microfinance complained on Thursday that “it was never given the opportunity” to defend itself on the ongoing capital and liquid saga that permitted the regulator to close its business.

The Bank of Tanzania (BoT) late last year put the pro-poor bank administration under its supervision saying the microfinance entity for 90 days due to inadequate capital and liquidity ratio to suffice business continuation.

The BoT after 90 days in March extended the period by one month before transferring Yetu Microfinance assets and liability to NMB Bank last week.

Youth Self Employment Foundation (YOSEFO), Chairman Ernest Ndimbo, said on behalf of shareholders that want the regulator to return the banks to th...