Regulatory Alerts2019-01-01
Microfinance Regulations for Non-Deposit-Taking Service Providers 2019
The Bank of Tanzania has issued the 2019 Microfinance Regulations to establish a comprehensive licensing and operational framework for Class 2 non-deposit-taking service providers, including private lenders and digital lenders. The regulations mandate strict eligibility criteria for license issuance, enforce robust corporate governance, financial capacity, and reporting standards, and clearly delineate permitted and prohibited business activities. Furthermore, they institutionalize consumer protection through transparent lending practices, mandatory internal and external audits, and structured complaint resolution mechanisms.
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