Regulatory Alerts2025-01-01
The Banking and Financial Institutions (Non-Interest Banking Business) Regulations, 2025
The Bank of Tanzania issued these regulations to establish comprehensive operational, governance, and compliance frameworks for non-interest banking businesses and dedicated banking windows. The rules mandate the establishment of Shari’ah Advisory Committees, require strict separation of accounts and risk management systems, and define permissible financing structures alongside profit-sharing and liquidity requirements. Institutions must disclose Shari’ah compliance and non-permissible income handling in their financial statements, while the Bank retains authority to impose penalties ranging from dividend restrictions to license revocation for non-compliance.
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