Regulatory Alerts2015-01-01
Guidelines for Banking Consumers' Complaints 2015
The Bank of Tanzania issued these Guidelines to establish a free Complaints Resolution Desk that provides a simplified, transparent mechanism for resolving consumer grievances against regulated banking institutions. The framework mandates that banks maintain internal complaint-handling systems capable of resolving issues within twenty-one working days, while requiring complainants to exhaust these internal processes before lodging formal complaints with the Desk. Covering claims up to TZS 15 million, the Desk issues written determinations within ninety days that become binding upon complainant acceptance, with proceedings conducted in English or Kiswahili and exempt from formal legal rules of evidence.
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