Regulatory Alerts2025-01-01
The Zanzibar Microfinance Service (Community Microfinance Groups) Regulations 2025
Issued by the Zanzibar Minister of State for Finance and Planning under the 2023 Microfinance Service Act, these regulations establish a comprehensive regulatory framework for Tier Four community microfinance groups operating in Zanzibar. The rules mandate that groups of seven to fifty members with a common bond must form an interim committee, draft a constitution, and secure registration from the Bank or a Delegated Authority within specified timelines. Registered entities are required to limit operations to member contributions and loans, maintain transparent governance and consumer protection standards, submit periodic reports, and face administrative sanctions or penalties for non-compliance.
Share