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Amana Bank (Tanzania)

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Amana Bank Limited
Company typePrivate
IndustryFinancial services
Founded2011; 13 years ago (2011)
Headquarters2nd Floor, Golden Jubilee Tower, Ohio Street, Dar es Salaam, Tanzania
Number of locations
8 branches
Key people
Mushin Masoud
Managing Director
ProductsLoans, Transaction accounts, Savings, Investments, Debit Cards
RevenueIncreaseAfter Tax:TSh 989.65 billion (US$435.062 million) (2017)
Total assetsTSh 204 billion (US$89.7 million) (2017)
Number of employees
150+ (2017)
WebsiteBank website

Amana Bank is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.[1]

Location

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The headquarters and main branch of Amana Bank are located in Golden Jubilee Tower, along Garden Avenue, in the central business district of the city of Dar es Salaam, the largest city and financial capital of Tanzania. The geographical coordinates of Golden Jubilee Tower are: 06°48'49.0"S, 39°17'21.0"E (Latitude:-6.813611; Longitude:39.289167).[2]

Overview

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The bank is a fully licensed Islamic banking institution. As of July 2016, the bank had over 34,000 customers, served through seven branches, of which five were in Dar es Salaam, one in Mwanza and one in Arusha.[3] As of 31 December 2017, the bank's total assets were valued at TSh 204 billion (US$89.7 million), with shareholders' equity of TSh 23.7 billion (US$10.43 million).[4]

History

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Amana Bank was established in 2011 with paid-up capital of TSh 27 billion (approx. US$12.6 million in 2016 money). It is the first fully Sharia-compliant bank in Tanzania. The discussions to establish this bank date back to October 2009, among prominent Tanzanian business personalities.[5]

Branch Network

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As of September 2018, the bank maintained branches at the following locations:[3][6][7]

  1. Headquarters Branch: 2nd Floor, Golden Jubilee Tower, Ohio Street, Dar es Salaam Main Branch
  2. Nyerere Branch: DRTC House, Nyerere Road, Dar es Salaam
  3. Lumumba Branch: Lumumba Street, Kariakoo, Dar es Salaam
  4. Mbagala Branch: Mbagala Zakhem, Mbagala, Dar es Salaam
  5. Tandamti Branch: Tandamti Street, Opposite Kariakoo Market, Dar es Salaam
  6. Arusha Branch: Ground Floor, Hugo Plaza Building, Corner of Wapare Street & Majengo Street, Arusha
  7. Mwanza Branch: Ground Floor, Plot no 231, Block T, Kenyatta Street, Mwanza
  8. Tanga Branch - North East side of Uhuru Park, Market Street, Tanga
  9. Zanzibar Branch - Zanzibar (In Development)[8]
  10. Pemba Branch - Pemba (In Development)[8][9]

See also

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References

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  1. ^ Bank of Tanzania (30 June 2017). "Directory of Banks and Financial Institutions Operating in Tanzania as of 30 June 2017" (PDF). Dar es Salaam: Bank of Tanzania. Retrieved 8 May 2018.
  2. ^ "Location of the Headquarters of Amana Bank Tanzania Limited, Golden Jubilee Tower, Garden Avenue, Dar es Salaam, Tanzania" (Map). Google Maps. Retrieved 8 May 2018.
  3. ^ a b Mwakyusa, Alvar (8 July 2016). "Tanzania: Amana Bank Loans Reach TSh 170 Billion in Five Years Time". Tanzania Daily News via AllAfrica.com. Dar es Salaam. Retrieved 8 July 2016.
  4. ^ Amana Bank Limited (24 March 2018). "Audited Financials for the Year Ended 31 December 2017" (PDF). Dar es Salaam: Amana Bank Tanzania Limited. Retrieved 8 May 2018.
  5. ^ Amana Bank (8 May 2018). "Amana Bank: Corporate Profile: Origin of the Bank". Dar es Salaam: Amana Bank Tanzania Limited. Archived from the original on 8 May 2018. Retrieved 8 May 2018.
  6. ^ Amana Bank Tanzania (8 May 2018). "List of Branches of Amana Bank Tanzania Limited". Dar es Salaam: Amana Bank Tanzania Limited. Archived from the original on 8 May 2018. Retrieved 8 May 2018.
  7. ^ Karega, Victor (29 November 2017). "Bank of Tanzania dispels Islamic bank closure rumours". The EastAfrican. Nairobi. Retrieved 8 May 2018.
  8. ^ a b Mirondo, Rosemary (8 July 2016). "Tanzania: Amana Bank Set to Open Two More Branches". The Citizen via AllAfrica.com. Dar es Salaam. Retrieved 8 July 2016.
  9. ^ Corporate Digest (2014). "Amana Bank to Open Seven New Branches in Various Regions". Corporate Digest. Retrieved 8 May 2018.
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