Regulatory Alerts2021-01-01
The Banking and Financial Institutions (Corporate Governance) Regulations, 2021
The Bank of Tanzania issued these regulations to establish comprehensive corporate governance standards for all licensed banks and financial institutions. They mandate specific board composition, tenure limits, and committee structures while requiring prior regulatory approval for senior management appointments and regular performance assessments. The framework further enforces strict fiduciary duties, risk management protocols, insider credit limits, and compensation oversight to ensure institutional soundness and stakeholder protection.
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