ACKNOWLEDGEMENTS

First and foremost, I would like to thank the almighty God for the grace He has given me to
accomplish all that I have accomplished in my practical training. Also, I would like to thank
my father CHARLES KILALA MALULU for their tolerance and valuable contributions in my
education which enables me to accomplish this work. Then, thanks and much respect to my
young brothers and sister for their great support that enables me to concentrate much in my
learning and the preparation of this report.

I really appreciate and thank the manager of TCB BANK DODOMA Branch Mr. EDWARD
MLOWO for providing opportunity to me to conduct the field practical training in his branch
And also I thank my host supervisor Madam ATUGANILE MWAKITALU as branch
operation manager for her contribution, guiding and directing me during the process of
supervising me, but also Credit officers,head of customer service section and chief cashier For
good supervision to my field practical training as a part and parcel of studies. As a student this
course enabled me to apply what we have been taught in class and put into practical which
make a student to be of competent in the banking and finance employment after college life and
even self-employed.

It is my pleasure to extend my sincere regards and gratitude to the TANZANIA

COMMERCIAL BANK (TCB) for allowing students to conduct their practical training in their
organization which enables them to execute what they have studied
 LIST OF ABREVIATION
ARCC Audit, Risk management and Compliance Committee

BOT Bank of Tanzania

CAG Controller and Auditor General

FPT Field practical training

GRRC Governance, Recruitment and Remuneration Committee

IFM Institute of finance management

ISAs International Standards on auditing

IFRSs International Financial Reporting Standards

KYC Know your customer

NBAA National Board of Accountants and Auditors

PFR Public Finance Regulation

PPA Public Procurement Acts

PPR Public Procurement Regulation

PAA Public Audit Acts

PAR Public Audit Regulations

PAC Public Accounts Committee

SACCO Saving and Credit Cooperative Society

TCB Tanzania Commercial Bank

TWB Tanzania Women's Bank

URT United Republic of Tanzania

 EXECTIVE SUMMARY
I was conducting my field practical training for the purpose of gaining practical knowledge
and skills by linking theory that I was been thought in class during the process whereby this
may help me when I become employed in an organization or self-employment

during the practical training at Tanzania commercial bank I was conducting different
activities, e.g. I was inviting customers to open bank account ignored for them to secure their
money at bank and the corresponding lessons learned is that Tanzania commercial bank it
depends much deposit from customers for operating banking activities such as provision of
loans and making some profitable investments

different lessons that I was thought in class theoretically, I was trying to link them into
practical and some of them they are very easy than I was thinking that I could be very
difficult to understand how its performed, like bank reconciliation it was very easy to link
from theory to practical because I was having some theoretical knowledge that I have been
thought in class

My opinions about my field practical training is that, Field practical training it was very good
and safe the working environment it was very friendly for me and I think that I was adding
something in organization in the provision of service
 TABLE OF CONTENTS

INTRODUCTION...................................................................................................................i

ACKNOWLEDGEMENTS........................................................................................................i

LIST OF ABREVIATION.........................................................................................................ii

EXECTIVE SUMMARY.........................................................................................................iii

TABLE OF CONTENTS..........................................................................................................iv

LIST OF TABLES.....................................................................................................................v

CHAPTER ONE........................................................................................................................1

1.1 Introduction......................................................................................................................2

1.2 Purpose and objectives of FPT.........................................................................................2

1.3 An overview of fieldwork placement...............................................................................2

1.3.1 Historical background of TCB Bank.........................................................................2

1.3.2 Primary function of TCB BANK...............................................................................4

1.3.3 Organisation structure................................................................................................6

1.4 Review of the industry that TCB bank is operating.........................................................8

CHAPTER TWO.......................................................................................................................9

WORK DONE AND LESSON LEARNT.............................................................................9

2.1 INTRODUCTION............................................................................................................9

2.2 Task undertaken during FPT............................................................................................9

2.2.1 Explaining to customers about western union...........................................................9

2.1.2Provision of Fund Transfer Request Form.................................................................9

2.1.3 Providing Personal Loan Application Forms to the Clients......................................9

2.1.4 Receiving and checking personal loan application forms;......................................10

2.1.5 Calculating eligible amount for personal loan a client can borrow.........................10

2.1.6 Verifying treasury in and out slip............................................................................10

 2.1.7 Counting of money..................................................................................................10

2.3 lessons learned................................................................................................................10

2.4 Works and lessons done weekly on different department..............................................11

2.5 Challenges encountered during field practical training..................................................11

CHAPTER THREE..................................................................................................................14

CONCLUSION AND RECOMMENDATION...................................................................14

3.1 INTRODUCTION..........................................................................................................14

3.2 Conclusion......................................................................................................................14

3.3 Recommendation............................................................................................................14

3.3.1 Recommendation for TCB.......................................................................................14

3.3.2 Recommendation to the institute.............................................................................14

REFERENCE...........................................................................................................................15
 CHAPTER ONE

INTRODUCTION
1.1 Chapter Introduction

This chapter explains about the purpose and objectives of the field practical training at TCB
Bank also the background of Tanzania commercial bank Dodoma branch and how it was
formed until now in its operations and it includes all product/service offered, mission of an
organization, vision of the bank and different core values of the Tanzania commercial bank to
their customers

1.2 Purpose and objectives of FPT

1.2.1 Purpose of FPT is to enhance the student skills, working ability attitude toward the area
of specialization and to get exposed to managerial decision, and also it provide opportunity to
the student to enhance academic performance with field experience related to the student
carrier but also this help student to build a good relation with others and it provide with an
opportunity to interact and collaborate with experienced trainers also it introduce the student
in the nature of labor market and its needs, and make them more ready to work in the future

1.2.3 The overall objective of the field practical training is to help student to get hands on
skills to complement theoretical and practical instruction offered at the institute of finance
management and Familiarize students with current development in banking business and
being competent and aware of their future responsibilities as professionals in financial
marketing,

1.3 An overview of fieldwork placement

1.3.1 Historical background of TCB Bank

Tanganyika Postal Office Savings Bank now TCB, came into being in 1925 when
Tanganyika was under British Rule. Post TPOSB at the end of colonial rule, TPB became a
Savings Bank under the then East African Post and Telecommunications which ceased to
operate after the collapse of the East African Community with the Tanzania Posts &
Telecommunications Corporation being formed to cater for the Tanzanian market as each
former EAC member state formed their own ‘postal banks’. Tanzania Postal Bank was
established by the Tanzania Postal Bank Act No. 11 of 1991 from the now defunct TP&TC,
which was then incorporated under the Companies Act (Cap 212) as TPB Bank PLC.

On Thursday 19th January 2017, the bank unveiled it’s the name TPB Bank PLC to the
public as well as its new logo and tagline (Grow with us). In 2018, TPB merged with the
former Twiga Bancorp and the former Tanzania Women’s Bank. TPB’s original focus at
inception was providing financial services to the common Tanzanian and this has now
evolved to focus on promoting financial inclusion and empowering Tanzanians by helping
them develop a saving culture and access to credit. But now the name changes from the word
TPB and known as Tanzania commercial bank TCB.

1.3.1.1 Service and product offered by TCB bank

Tanzania commercial bank done a lot of commercial activities at the level of commercial
operation department

Provision of loans

Tanzania commercial bank offer variety of loan product to their customers including
wastaafu loans, group loans, agrobusiness loans, mortgage loans, consumer loans, which
general assist customers to satisfy their needs

Accepting Deposits

Tanzania commercial bank accept deposits from both businesses and individual entities. They
handle savings deposits, time deposits, and current deposits. Time deposits carry a higher
interest rate than savings deposits, and current deposits don’t offer any interest.

Dealing with Foreign Exchange

Tanzania commercial banks also they are responsible for handling exchanges between
foreign and national currencies. They often serve as trusted partners between foreign banks
and home banks, dealing with the exchange of money and the handling of different account
types overseas

Payroll processing
This is another service that is commonly provided by Tanzania commercial banks to their
clients. Once again, this is because of the fact that the bank is intricately involved in the
process of disbursing payroll payments.

1.3.1.2 Core value

Tanzania Commercial Bank has identified its core values which will shape the culture, define
the character of TCB and guide how TCB’s people behave and make decisions going
forward.

Teamwork: Our business units will work together in harmony so as to make sure our
customers get the best value for money in the services and products we offer.

Creativity: We believe diversity is indispensable in bringing out creativity as we continuously

seek to introduce new and better ways at what we do. Innovation is an essential tool of
excelling in a highly competitive banking industry.

Trustworthy: Our people conduct themselves ethically in a manner that is above reproach to
win the trust of our customers and stakeholders.

Excellence: Committed to the quest for excellence, we deliver what we promise and add
value that goes well beyond what is expected.

Customer Focus: All our activities are primarily focused on customers’ needs and their
fulfillment; we invest to enhance their experience of banking with us. The market we serve
determines our choice of products and services and the way we deliver them.

1.3.1.3 Mission
The mission of Tanzania Commercial Bank is to provide convenient banking products and
service through the deployment of innovative solutions enhance value to stakeholders and
contribute to the social-economic needs of the country.

1.3.1.4 vision
The vision of Tanzania Commercial Bank is to be the leading bank in the provision of
innovative financial solution and promoting financial inclusion in Tanzania.
1.3.2 Primary function of TCB BANK
Functions of Commercial Banks the Primary functions include accepting deposits, granting
loans, advances, cash, credit, overdraft and discounting of bills. Secondary functions include
issuing letter of credit, undertaking safe custody of valuables, providing consumer finance,
educational loans, etc

Accepting of Deposits: Generally, the TCB bank accept four types of deposits from the
public which are as follows: (a) Current Account or Demand Deposit: Under this account the
depositor can withdraw the money whenever he requires it. Normally no interest is paid by
the bank because the bank cannot utilise this money in earning and he must keep himself
ready to meet the demand of the customer.

Advancing Loans: Tanzania commercial bank lends a certain percentage of cash lying in
deposits on higher interest rate than it pays to the depositors. This is how it earns profits and
carries on its business. The bank advances loan in the following manner, Cash Credit, Call
Loans/Money at Call and Short Notice, Overdraft: Overdraft is the facility extended by the
banker to draw a sum greater than the balance lying in his current account, Discounting Bills
of Exchange

Credit Creation: Credit creation is one of the most important functions of the Tanzania
commercial banks. In order to earn profit the bank accept deposits and advance loans by
keeping a small cash in reserve to meet the day to day needs of the customers

Financing Foreign Trade: Tanzania commercial bank helps in foreign trade by financing his
customers and by accepting foreign bills of exchange. The bank encourages the documents
like D/A (Documents against acceptance) and D/P (Documents against payments) in foreign
payments. Further, it transacts foreign exchange business and buys and sells foreign currency.

Agency Service: A bank discharges agency services on behalf of its customers which are as
the bank collects payments of bills of exchange, cheques dividends etc. on behalf of his
customers.
 1.3.3 Organisation structure

Source: Organisation website

Source: Organisation website
1.4 Review of the Banking industry that TCB bank is operating
Tanzania commercial bank is operating in banking sector that has been in operational for
many years since 1905, The banking sector experienced an outstanding growth in total assets
mainly contributed by the growth of loan book.

Banking sector is established for the purpose of offering, providing financial services to the
customer e.g. facilitating long distance payments, saving, to take in funds called deposits
from those with money, pool them, and lend them to those who need funds. Banks are
intermediaries between depositors (who lend money to the bank) and borrowers (to whom the
bank lends money) also facilitating of electronic transfer

TCB bank act are the suppliers of financial services to their customers who act as buyers of
financial services

In banking sector Tanzania commercial banks compete with other financial institutions that
offer the same service making this sector to be very competitive in offering of financial
service examples of competitors of TCB Banks are NMB, CRDB, MCB, DCB etc

The financial services markets, barriers to entry include licensing laws, capital requirements,
access to financing, regulatory compliance and security concerns. The financial services
sector has a uniquely complicated relationship with competition and barriers to entry
 CHAPTER TWO

WORK DONE AND LESSON LEARNT

2.1 Chapter introduction

This chapters explains about the task undertaken, lesson learnt during the field practical
training and the lessons learned based on the department worked for and also the challenges
that was encountered me during the FPT

2.2 Task undertaken during Field practical training

During field practical training I worked in four department which are Customer Service, Loan
department, Back Office and Tellers Cashier. I was given a brief overview about the work of
the particular department and allowed to do general works related to the departments. I also
learned by asking questions to the staff of such departments and also by observing their daily
works

2.2.1 Explaining to customers about western union

During field practical training i was explaining to customers who want to transfer funds
across national boundaries by considering safety of this means of transfer also I was
explaining the requirements for senders, you will have to provide a government-issued ID
(such as a driver’s license), and pay in cash. You will be required to provide the recipient’s
full name, country, and address. in order to receive cash from a Western Union money
transfer, you must have your government ID and the money transfer control number that the
sender of the funds was provided by the clerk.

2.1.2Provision of Fund Transfer Request Form

During field practical training I was assigned to provide fund transfer request form to the
customers and posting it to the head office by using system, this involve act of transferring
money either electronically or physically to one account to the other. What is great with fund
transfer is that it is a cashless mode of payment. This is probably one of the best options
especially if you are sending a huge sum of payment to another account or person

2.1.3 Providing Personal Loan Application Forms to the Clients

After calculating the amount of loan eligible to a client and for a certain period of loan
repayment agreed by the client then we provide them with personal loan application form
together with the terms and conditions for a client to fill and attach the required copies like
work identity card, National identity card or voter’s identity card, employment contract, letter
of appointment, confirmation letter and introduction letter, all the copies are to be certified by
the employer.

2.1.4 Receiving and checking personal loan application forms

Receiving the personal loan application forms from the customers and crosschecking them to
see if they are complete as required. When the application forms are complete then they are
to be signed by retail account manager (RAM), then credit manager and then by the branch
director. Then after the forms are to be entered in a credit pro system and then to be scanned.

2.1.5 Calculating eligible amount for personal loan a client can borrow
Personal loan is a loan facility available to the employed worker both in a public or private
sector and for the repayment period is up to seven years. Eligibilities includes; a client must
be an employee in a formal sector, other deductions should not exceed one third of his basic
pay, and the amount requested depends on the salary. We calculate the amount of loan
eligible to the client basing on his or her salary slip by using a special formula designed in a
RUBIKON. A client can borrow up to a maximum of 100 million Tanzania shillings.

2.1.6 Verifying treasury in and out slip

Dealing with the verification of treasury slip which show the tellers cash in out per day.
Every day a teller is required to meet chief cashier for taking cash that will be used to transact
with customer that we call treasury out

2.1.7 Counting of money

During field practical training I was counting customers money by using an electronic
machine that is used to count money and this is done on the department of chief cashier

2.3 Lessons learned

Was also learned that respect, discipline and good attitude towards work adds credibility to a
student and creates employment prospects. To be a good worker it takes a lot, and this
includes self-monitoring, self-confidence as this helps an individual to exercise higher
creativity in doing your job. Also, being independent in doing a job is highly valued, thus I
learned to be self-independent while doing a job and demonstrating high impact with
creativity
During field practical training I was learned that Hardworking is needed and rewarded and it
is highly appreciated, to be successful worker you need to be a hard worker while being
patient in allowing growth and being satisfied with what you get as reward, this is because for
many cases and many times bank officer found themselves in criminal offence by stealing
from bank.

Also, there was a sharp improvement on my computer skills especially MS Excel, MS word,
TCB customer service Porto as I was dealing with these programs on daily basis. I started the
practical training with elementary skills in those programs but using the programs for eight
weeks intensively at the end of the training there was an increase in proficiency.

Working as a trainee has also taught me some interpersonal skills such as being proactive,
keeping an open mind and self-determination. During FPT I kept an open mind to new
procedures, consulting my seniors whenever I face problems as well as asking for repetition
of task requirements. Every setback I faced was not a failure rather a motivation in delivering
more flawless results

2.4 Works and lessons done weekly on different department

During the period of field practical training there was different department that I was worked
for such as credit office, customer service and chief cashier office where by on credit office I
was learned different kind of credit facilities such as personal loans, consumer loans and also
visiting customers

During field practical training I was learned different kind of service offered at that section
such as offering of cash deposit and withdrawal slips and explaining to customers how they
can get banking service through internet

Also, I was learned how to prepare a bank reconciliation on different sections. Including
ATM reconciliation, mobile reconciliation and also about clearing of cheque.

2.5 Challenges encountered during field practical training

Working at TCB as a bank officer was a great experience, though I faced some challenges.
The following were problems encountered me during my practical training at TCB.

Adopting to the working environment

During field practical training i was exposed to the new working environment of the
organization quite difference from university in terms of culture and conduct of day to day
activities.it took me some days to coup with the environment. I had to arrive in the office
early for morning meeting which was done exactly at 7:00am also this was solved by
observing other stuffs member so as to be familiar with the TPB culture.

Working beyond the normal working hours

The normal working hours per day is 8 hours, but we were working beyond the required
normal hours because we have been working for more than ten hours daily and not less than
10hrs from 8:30hrs to16:30hrs or more with exception of Saturday. This was a challenge
because I had a little resting time for other things like writing the report and arriving home at
night.

Over confidentiality

At TCB everything is confidential such that the students were not even allowed to pass
through other software such as Branch Power, such situation limited me to learn many things
in their training because most of the contents are in that software.

Also, some of the duties were beyond the coverage at school; in the bank, some of the duties
that I was assigned to perform were beyond my coverage at school lessons. They were either
to be studied in Marketing courses that I don’t take i.e. are typically in marketing courses or
in my first year of study. For instance, the issues of, Financial Appraisal Reports and
valuation of collaterals disturbed me a lot when I met them in my activities.

Customer complaints

The customers those who are not TCB private banking customers, they are complaining on
the discrimination that exists between the Branch and them because they are not allowed to
make transactions until to be customer of private banking and to open account within the
branch or in other Branch of TCB Private Banking. In fact, TCB Private Banking deals with
the High Net worth Individual clients through a dedicated relationship management.
Therefore, the low-income earners fail to open an account because sometime they fail to
afford the cost.

Computer application problem

In this field most of the activity demanded the use of computer application and minor manual
works, this made me not to be so competent in the first days because of little knowledge I
acquired in the classroom whereby the big problem is that, most of the lessons we covered in
first year based much in theories and non-practical

CHAPTER THREE

CONCLUSION AND RECOMMENDATION

3.1 INTRODUCTION
This chapter conclude the whole FPT and provides are recommendation to the Tanzania
commercial bank also the recommendation of the institute of finance management and this
chapter shows the references of the whole FPT

3.2 Conclusion
To wind up this report, the last but not least important issue is that, it is very important for
organizations and other institutions not to be reluctant to accept students to do their practical
training due to unknown reasons, in this case the Department of Business and
entrepreneurship studies should educate these organizations and other institutions so that they
can know the advantages they can get by accepting students for practical training. However,
relationship with the organizations, which accept students, should be strengthening so that
they can continue to accept students for practical training

3.3 Recommendation

3.3.1 Recommendation to TCB

In fact, practical training is the most interesting course to students because it is easy to grasp
things practically than using theory itself. Field practical helped more to be competent in
practical work especially in finance. But there is some problem which I can advise TPB to
solve in order to be more competent in telecommunication sector in Tanzania at this century
of digital age as follows: to Increase of their brand/products through promotions and
advertisement, they have to employ new staffs which are young and energetic instead of the
staffs which are aged in the office. These young employees can come up with creativity and
transform the company and hence increase customer, they have to designed office staffs in a
modern way instead of these available old office arrangements, also to Improve its office
facility like computer, photocopying machine, printers etc. to go with the modern banking
3.3.2 Recommendation to the Institute of Finance Management
Based on my FPT in the I wish to advice the institute in order to meet the mission and vision
of the institute the institute must formulate the curriculum to emphasize much on computer
application. This is because in the market most of the activities is performed using computer
application
REFERENCE

THE TANZANIA POSTAL BANK ACT, 1991 (PDF). Government of Tanzania

Mwakyusa Alvar (2016-04-22). "Tanzania: Postal Bank in Upward Trend Gets Set for
Listing At DSE". Tanzania Daily News (Dar es Salaam). Retrieved 2017-01-19.

Anyimike Anastazia. "TPB yaombwa unafuu wa mikopo". www.habarileo.co.tz (in Swahili).

Retrieved 2017-01-19
TPB Bank Plc (31 March 2020). "TPB Bank Plc Annual Report 2019" (PDF). TPB Bank Plc.
Dar es Salaam. Retrieved 6 December 2020.
"Tanzania Postal bank Annual Report 2014" (PDF). postalbank.co.tz/. Tanzania postal bank.
Retrieved 19 January 2017.
"Tanzania Postal bank Annual Report 2015" (PDF). postalbank.co.tz. Tanzania Postal Bank.
Retrieved 19 January 2017.
National Audit Office, Republic of Tanzania (April 2019). "TBP Bank Public Limited
Audited Financial Statements for The Year Ended 31 December 2018" (PDF). Dar es
Salaam: TPB Bank Public Limited. Retrieved 6 December 2020.

Bank of Tanzania (6 December 2020)

Deus Ngowi (22 June 2021. Dar es Salaam. Retrieved 5 December 2021.

Elinaza Abduel 2015-05-27