Regulatory Alerts2019-01-01
Microfinance (Non-Deposit Taking Microfinance Service Providers) Regulations 2019
The Bank of Tanzania issued these 2019 regulations to establish a comprehensive licensing and operational framework for Tier 2 non-deposit-taking microfinance service providers. The rules mandate strict application procedures, board composition with mandatory Tanzanian appointments, clearly defined permissible and prohibited activities, and rigorous internal and external audit requirements. Licensed entities must maintain minimum capital, submit periodic financial reports, adhere to consumer protection standards, and comply with prescribed timelines for license issuance and business commencement.
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