Kamal B. Joshi versus Rustam S.K. Merani

Kamal B. Joshi versus Rustam S.K. Merani; Commercial Case No 64 of 2008: High Court of Tanzania (Commercial Division) at Dar es Salaam (Unreported).

• Civil Procedure

• Interest – interest rate on strong world currencies such as USD and pound sterling- What are the rates?

Held:-

Hard /Strong world currency such as USD, Pound Sterling etc attract low interest rates.  (In this case the court ordered 2% interest per annum (USD) from the date of filing the suit to the date of judgment and 0.5% per annum from the date of judgment to the date the amount is full paid.