Regulatory Alerts2022-01-01
The Banking and Financial Institutions (Mortgage Refinance Companies) Regulations 2022
The Bank of Tanzania issued these regulations to establish a comprehensive licensing and supervisory framework for Mortgage Refinance Companies (MRCs). The rules mandate a minimum core capital of thirty billion shillings, enforce strict collateralization standards for credit extensions, and prescribe specific liquidity thresholds, permissible investments, and corporate governance structures. Empowering the central bank to conduct inspections, monitor operations, and impose administrative sanctions, the framework ensures the safety, soundness, and operational transparency of MRCs within Tanzania’s financial system.
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