Financial Innovation in Tanzania: Opportunities and Challenges
- 10.2991/ssemse-15.2015.183How to use a DOI?
- Financial Sector; Financial Innovations; Challenges; Opportunities.
Worldwide financial innovations have been explained as among the greater ways of providing various advantages in financial sector. In Tanzania, financial innovation has transformed most traditional and conventional ways of business transaction and international relation between economies. Policy makers had high expectation about the prospect of financial sector which led to significant reforms including financial liberalization and the development of regulatory and supervisory frameworks. The paper review this trend and found that Financial innovation has brought many opportunities including increased menu of financial assets and liabilities to end users, the cost of financial intermediaries have fallen, risk management tools have become increasingly sophisticated and Tanzania have found new ways to mobilize domestic and international savings. However several challenges were discovered as hindering financial innovation including lack of capital, low level of technology, lack of supporting policies and risk creation.
- © 2015, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Mohammed Salim Ahmed AU - Jianguo Wei PY - 2015/11 DA - 2015/11 TI - Financial Innovation in Tanzania: Opportunities and Challenges BT - Proceedings of the 2015 International Conference on Social Science, Education Management and Sports Education PB - Atlantis Press SP - 714 EP - 718 SN - 2352-5398 UR - https://doi.org/10.2991/ssemse-15.2015.183 DO - 10.2991/ssemse-15.2015.183 ID - Ahmed2015/11 ER -