Tanzania's National Bank of Commerce hit with fine over data rules breach

Tanzania’s National Bank of Commerce Ltd has been fined Sh45 million for failure to establish a data centre, the second bank in two months to be penalised for such a breach by the central bank.

The central bank directed banks and financial institutions in 2014 to establish primary or secondary data centres in the East African nation, warning of hefty fines for non-compliance as it tightened regulatory oversight of the sector.