Financial Sector : Industrial & Allied
MaendeleoBankPlc. (MB) was registered as a Limited Company on February 2011.
In September, 9th 2013, Maendeleo Bank Plc.started business as a regional bank; the bank was issued with a licence number NBA 00026 to carry out banking business.
Maendeleo Bank plc. became the first bank in Tanzania to be registered in to Dar es Salaam Stock Exchange (DSE) and hence became Public Limited Company (PLC) from its start.
The bank is governed by Board of Directors vetted as per regulatory requirements. The Board of Directors as a policy making body exercise its governance by setting strategic direction, vision, mission, goals, policies as well as own governance process. Also it has a duty of overseeing audit work and risk management in order to increase efficiency and effectiveness of banks operations.
The Board of Directors is composed of people with broad knowledge and rich experience that is useful in directing and guiding the bank’s activities. The day to day operations is delegated to the Managing Director.