Banking in Tanzania has evolved significantly over the years, with a mix of traditional banks and mobile banking services. The country has several commercial banks, including CRDB Bank and NMB Bank, which offer various financial services such as savings accounts, loans, and investment options. The banking sector is regulated by the Bank of Tanzania, ensuring stability and consumer protection. Mobile banking has gained popularity, allowing people to conduct transactions using their mobile phones. Services like M-Pesa and Tigo Pesa have made it easier for individuals to transfer money and pay bills, especially in rural areas where access to physical banks may be limited.