Tanzania, July 31 -- Morogoro. Tanzanian customers whose deposits were frozen following the closure of FBME Bank Limited will receive 100 percent of their money after the Deposit Insurance Board (DIB) launched the fourth and final phase of payments under the bank's liquidation.

Speaking at a press briefing in Morogoro on Friday, July 31, DIB Director General Isack Kihwili said the final payout had been made possible after the board recovered sufficient assets to settle the remaining 15 percent of verified claims owed to Tanzanian depositors.

He said the payments would conclude a nearly nine-year process of reimbursing local customers who held deposits in the bank before it was closed by the Bank of Tanzania (BoT) in 2017.

"Completion o...