People's Bank of Zanzibar limited to the islands of Zanzibar and Pemba. In April 2011, the bank opened a branch in Dar es Salaam on the mainland. As of May 2012, it planned new branches in Mwanza, Arusha, Mtwara, and Mbeya. In December 2011, the bank launched an Islamic bank window, in addition to the conventional banking services that it offers. PBZ is wholly owned by the government of Zanzibar. As of November 2014, The Peoples Bank of Zanzibar Limited maintains 11 branches at the following locations: People's Bank of Zanzibar The People's Bank of Zanzibar (PBZ) is a commercial bank in Tanzania. It
History of Zanzibar received its independence from the United Kingdom as a constitutional monarchy under the Sultan. This state of affairs was short-lived, as the Sultan and the democratically elected government were overthrown on 12 January 1964 in the Zanzibar Revolution led by John Okello, a Ugandan citizen who organized and led the revolution with his followers on the island. Sheikh Abeid Amani Karume was named president of the newly created People's Republic of Zanzibar and Pemba. Several thousand ethnic Arab (5,000-12,000 Zanzibaris of Arabic descent) and Indian civilians were murdered and thousands more detained or expelled, their property either confiscated or destroyed.