Regulatory Alerts2020-12-18
Restriction on Issuance of Electronic Money Licenses
The Bank of Tanzania has restricted electronic money license issuance exclusively to licensed Mobile Network Operators (MNOs) pursuant to Section 56(3) of the National Payment Systems Act, 2015. Effective 15 December 2020, the directive exempts banks and existing non-MNO entities that already hold an Electronic Money Issuance License. This regulatory measure strengthens oversight of electronic money operators and safeguards financial system stability.
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