Data Submission to the Credit Reference Databank September 2013

Yours Faithfully BANK OF TANZANIA

DIRECTORATE OF BANKING SUPERVISION 
The above notwithstanding, this circular letter serves to inform you that from 
December 1, 2013 non-submission of data or submission of incorrect data to 
the Databank shall attract penalty charges as provided under Section 32 of 
the Banking & Financial Institutions Act, 2006. 
It is worth noting that inaccurate data not only exposes banks to compliance 
risk and potential claims for damages from borrowers, but also render the 
whole system of information sharing meaningless. You are therefore required 
to make sure that all data/information submitted to the Databank is correct 
and up-to-date with immediate effect. 
Review of the data submitted to the Databank has revealed some 
weaknesses related to data quality. The major flaw is the use of default values 
on mandatory fields such as IDs, birth dates, telephone numbers, etc. 
Weaknesses are also noted on contract data especially past due amount 
and past due days. 
) Reference is made to the captioned subject. 
Bank of Tanzania (Credit Reference Databank) Regulations 2012, requires 
every banking institution to submit credit information on monthly basis for all 
existing and new credit facilities to the Credit Reference Databank. 
RE: DATA SUBMISSION TO THE CREDIT REFERENCE DATABANK 
All Banking Institutions. 
271h September, 2013 
{~uhmibu} 
Ref.No. FC.170/208/01 
Anuani ya Simu "BENKUU" 
BANK OF TANZANIA 
P.O.BOX 2939 
DARES SALAAM 
TANZANIA 
Phone: +255 22 2234494/8 
+255 22 2234497/2235577 
Facimile: +255 22 2234194 
CABLE "BENKUU" 
BENKI KUU YA TANZANIA 
S.L.P. 2939 
DAR ES SALAAM 
TANZANIA 
Simu ya mdomo: +255 22 2234494/5 
+255 22 2234497/2235577