DODOMA-The Bank of Tanzania (BoT) has today signed bilateral Memoranda of Understanding (MoUs) with five academic institutions: Ardhi University (ARU), Eastern Africa Statistical Training Centre (EASTC), Nelson Mandela - African Institution of Science and Technology (NM-AIST), University of Dodoma (UDOM) and University of Dar es Salaam (UDSM).
Each MoU aims at establishing a framework for cooperation in Artificial Intelligence (AI), data innovation, and applied research focus at improving efficiency in economic policy formulation and financial sector supervision.
The MoUs are supported by Data Sharing Protocols that allow the use of data in compliance with Private Data Protection Act and data safeguard policies.
These protocols are intended to provide researchers in higher learning institutions with real-world problem-solving experience, reduce research delays arising from data access constraints, and support innovation in AI and other emerging technologies.
For the Bank of Tanzania, the MoUs will accelerate AI experimentation, testing of new tools, replication of global use cases, and innovation aligned with its AI & Data Innovation Strategy.
The Governor described the signing of MoUs as a strategic move towards responsible, locally driven financial sector innovation.