GOVT ORDER! ALL BANK COMPUTER SERVER BE HOUSED IN COUNTRY.

All banks, both local and foreign, are to have their computer servers physically present in the country the government has ordered.

The development comes as part of ongoing government efforts to check movement of financial transactions and control cybercrime.

Giving the order yesterday in the House when winding up the proposed National Payment Systems Bill 2015 that was tabled on Monday, Deputy Minister for finance Adam Malima, said the decision is meant to allow the government access to the banks financial transactions.

Malima explained that, some banks have their serves located abroad which makes it difficult to access their database.

He also reassured the House that so far, all banks have responded positively to the directive with only two requesting for a time extension to comply.

He pointed out that the Bank of Tanzania (BoT), Financial Intelligence Unit (FIU) and Ministry of Finance are responsible to oversee the compliance and subsequent review and monitoring of the transactions.