Regulatory Alerts2025-01-01
Zanzibar Microfinance Service (Savings and Credit Cooperative Societies) Regulations, 2025
Issued by the Zanzibar Minister of State for Finance and Planning, these regulations establish a comprehensive regulatory framework governing Tier Three microfinance service providers (SACCOS) operating in Zanzibar. They mandate tiered licensing with distinct capital thresholds, enforce structured governance through elected management and credit committees, and prescribe permissible lending, liquidity, and investment activities. The framework further empowers the Bank or Delegated Authority to conduct inspections, enforce capital restoration plans, oversee internal and external audits, and issue administrative orders to ensure operational soundness and consumer protection.
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