Regulatory Alerts2020-03-17
Credit Reference Bureaus
The Bank of Tanzania mandates that credit reference bureaus must be incorporated limited liability companies maintaining a minimum paid-up capital of TZS 600,000,000 to obtain and retain their operating licence. Applicants must complete a mandatory pre-filing meeting, pay a TZS 1,000,000 non-refundable application fee, and submit comprehensive documentation detailing capital proof, a three-year feasibility study, management profiles, shareholder declarations, and operational system specifications. Upon approval, licensed bureaus are required to operate with robust data collection and security protocols while adhering to the Bank’s prescribed fee structures and ongoing compliance standards.
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