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The
Dar es salaam Electronic Clearing House (DECH)
1.
Introduction
For instance,
when the instrument is drawn on account maintained at another branch of the same
bank, it has to be sent to the paying branch for payment, and an adjustment of
funds takes place through inter-branch accounts.
If the
instrument is drawn on another bank’s branch, then clearance has to take place
through a Clearing House. The Clearing House is a place where representatives of
member banks meet at specified times, to exchange instruments and determine the
net balances against each other.
2.
Location
The DECH is
temporarily accommodated on the Mezzanine floor of the Bank of Tanzania North
Tower building along 10 Mirambo Street awaiting take over by members through the
Tanzania Bankers Association. Other Clearing centers are available at Bank of
Tanzania branches namely Arusha, Mwanza, Zanzibar and Mbeya.
3.
Membership
Membership is
open to any licensed bank to operate in Tanzania, which in the opinion of
members is eligible for membership and agrees to the regulations and rules
governing the operations of the Clearing House.
A licensed
commercial bank that wishes to join the DECH has to submit a dully-filled in
application form “Form 100” to the Chairman of Committee of Management.
Form 100 can be
obtained from Banking Department or down loaded from the Banks web page: http://www.bot-tz.org/Banking/bankingOperations.asp
OR
http://www.bot-tz.org/PaymentSystem/PaymentSystem.asp
During the
period between 1995 – July 2012 DECH expanded its membership from 5 to 33,
namely:
1.
Bank of Tanzania
2.
CRDB Bank Limited
3.
Peoples’ Bank of Zanzibar Limited
4.
Standard Chartered Bank (Tanzania)Limited
5.
Stanbic Bank (Tanzania) Limited
6.
Citibank (Tanzania) Limited
7.
Bank of Africa Tanzania Limited
8.
Diamond Trust Bank (Tanzania) Limited
9.
Akiba Commercial Bank (Tanzania)Limited
10.
Exim Bank (Tanzania) Limited
11.
NBC Limited
12.
National Microfinance Bank Limited
13.
Kenya Commercial Bank (Tanzania) Limited
14.
Habib African Bank (Tanzania) Limited
15.
International Commercial Bank (Tanzania) Limited
16.
Barclays Bank (Tanzania) Limited
17.
I & M Bank Limited
18.
Commercial Bank of Africa
19.
Dar es Salaam Community Bank Limited
20.
FBME Limited
21.
NIC Bank Tanzania Limited
22.
Bank of Baroda Limited
23.
Azania Bancorp Limited
24.
Bank M. (Tanzania) Limited
25.
African Banking Corporation
26.
Access Bank (Tanzania) Limited
27.
Bank of India
28.
United Bank for Africa
29.
Mkombozi Commercial Bank
30.
Ecobank Tanzania Limited
31.
First National Bank Tanzania Limited
32.
Amana Bank.
33.
Equity Bank. Tanzania Limited.
4.
Conduct of Business in the DECH
4.1. Submission
of clearing instruments and files
Procedures
involved in the submission of clearing instruments and files through the DECH
are governed by rules and regulations of EFT and DECH.
4.2. Clearing
Times
There is one
session on every business day from Monday to Friday commencing from 9.00 a.m.
to 10.30 a.m. whereby settlement positions are determined.
5.
Administrative Body/Structure
5.1.
Administration
The Committee
of Management, Technical Committee and Displinary Committee administer the
operations of DECH.
5.2.
Supervision of DECH
The day to day
business of DECH is conducted under the supervision of DECH Supervisor and
Assistant Supervisor. Bank of Tanzania appoints the Supervisor. The Assistant
Supervisor is appointed by DECH Technical Committee from one of member banks on
rotational basis of two months tenure.
6.
Objective
To make
arrangements for speedy, efficient and safety way of executing settlement of
payment instruments payable or deliverable at or through offices of member
banks.
7.
Achievements
DECH has
facilitated:
·
Efficient processing of cheques, Electronic Journals (EJs), and settlement files
in BOTECH system.
·
Introduction of Net Settlement Gateway (NSG) system that consolidates Electronic
Journals (EJ), Electronic Funds Transfer (EFT) and Settlement files from all
clearing centers into individual member banks’ Net Settlement Positions.
-
Improvement in speed
of execution of settlements whereby Net Settlement positions from
regional clearing centers are received electronically through Funds
Transfer Protocol (FTP) program, consolidated with Head office positions
and posted electronically to banks clearing accounts in TISS and CBS for
TISS participants and non TISS participants respectively.
·
Adoption of Settlement Agency on behalf of VISA member banks for settling
transactions arising from use of VISA cards locally, at Automated Tellering
Machines (ATMs) and Point of Sales (POS).
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Contacts
Physical Location:
Offices of the Banking Department are located
on the Mezzanine floor of the Bank of Tanzania North Tower building
along 10 Mirambo
Postal Address
10 Mirambo Street
P.O. Box 2939
Dar Es
Salaam
Telephone
+255 22 2235135
E-mail address
Mrs. H. Mnjovu,
Manager, Banking
Hmmnjovu@hq.bot-tz.org
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