Regulatory Alerts2024-08-22
Strengthening Gender Representation and Inclusivity in Leadership Roles for Banks and Financial Institutions
The Bank of Tanzania requires all banks and financial institutions to ensure at least one-third of board members are women and to actively promote qualified females into senior management roles. Institutions must update governance policies, Directors Competence Matrices, and Board Charters to embed gender diversity into succession planning and executive recruitment while establishing clear targets for female leadership participation. Affected entities must submit implementation action plans within six months and achieve full compliance with the gender balance targets within thirty-six months of the directive's issuance.
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