Regulatory Alerts2023-01-01
The Banking and Financial Institutions (Licensing) (Amendment) Regulations 2023
The Bank of Tanzania promulgated these amendment regulations to revise Regulation 40 governing the establishment of foreign branches and subsidiaries. The updated provision requires financial institutions to secure prior regulatory approval before expanding overseas, provided they satisfy solo and consolidated capital and liquidity thresholds. Additional approval conditions mandate a proven operational performance record, the capacity to inject supplementary capital as needed, and effective risk management for the new international entity.
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