Regulatory Alerts2014-01-01
Banking and Financial Institutions (Licensing) Regulations 2014
The Bank of Tanzania issued these 2014 regulations to establish comprehensive licensing criteria and procedural requirements for entities seeking authorization to conduct banking business. Applicants must submit a detailed feasibility study, demonstrate sufficient financial capacity and capital sources, and ensure their board members and senior management meet fit-and-proper standards. Licensed institutions are mandated to maintain minimum core capital, obtain prior regulatory approval for structural changes and new products, and commence operations within twelve months of license grant.
Share