Tanzania Postal Bank was established by the Parliament Act No 11 of 1991 as part of financial sector Reforms. It became operational as a separate entity from the Tanzania Posts and Telecommunications Corporation - TP&TC on 1 March 1992 with its own Board of Directors and Management. It was established as a successor to the Tanganyika Post Office Savings Bank, which had been established by the Post Office Savings Bank Ordinance of 1925 and made operational in 1927. Products and Services; Tanzania Postal Bank offers the following products; Postal savings account, Quick accounts in local and foreign currency, especially USD Dollars, Save As You Earn (SAYE or WADU), Fixed deposits of varying maturities ranging from 30-day to 24 months (both in local and foreign currency), Call accounts; Issuing of loans e.g Business loans, Micro-credits, Consumer loans, Overdrafts, Personal loans etc. Carries out MoneyTransfer - local and international using; via Western Union Money Transfer (WUMT), SWIFT and Correspondent Banks. Debit card business through (ATM and POS), Staff provident scheme, and Insurance services. Provides Trade finance services e.g Letters of Credit, Packaging Credit facilities, Shipping guarantees, Foreign guarantees etc. The bank also operates a currency bureau (Purchasing and Selling of Forex).