Financial Innovation in Tanzania: Opportunities and Challenges

DOI

10.2991/ssemse-15.2015.183How to use a DOI?

Keywords

Financial Sector; Financial Innovations; Challenges; Opportunities.

Abstract

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.

Copyright

© 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/).

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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  -