Bank of Tanzania – FIN & LAW

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Legal UpdateTanzania Issues New Licensing and Operations Regulations For Forex Bureaux Effective 2023

2 May 2024by finandlaw-admin

INTRODUCTION On 06th October 2023, the Bank of Tanzania (BoT) issued new Foreign Exchange (Bureau de Change) Regulations via Government Notice No. 730 of 2023. The 2023 Regulations replaces the older Foreign Exchange (Bureau de Change) Regulations, 2019. The Regulations cover various aspects related to bureau de change businesses, management, operation as well as supervision...

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NewsTanzania issues new Foreign Exchange Regulations. Importers, Exporters and Forex Dealers beware

3 May 2022by finandlaw-admin

INTRODUCTION The Government of Tanzania through the Central Bank Governor, has issued the new Foreign Exchange Regulations with effect from 13th May 2022. The new regulations were issued through the Government Notice No. 294 of 13th May, 2022 replacing the previous Foreign Exchange Regulations that were issued under Government Notice No. 629 of 1998. Besides,...

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NewsBank of Tanzania to Conduct Quarterly Survey of Companies with Foreign Liabilities In Tanzania, 2021

16 August 2021by finandlaw-admin

The Bank of Tanzania (BOT) in collaboration with Tanzania Investment Centre (TIC) and the National Bureau of Statistics (NBS) will conduct a quarterly survey of companies with foreign liabilities in Tanzania, in 2021 during August – October 2021 as communicated in their joint Press Release of 10 August 2021. The survey will be conducted through...

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Legal UpdateTanzania Legal and Policy Review Amidst COVID-19 Pandemic

29 May 2020by finandlaw-admin

Introduction In light of the recent COVID-19 pandemic, the Government of Tanzania has announced a set of financial and Traveling measures in response to the impact on the economy. So far, the Central Bank of Tanzania (Bank of Tanzania) through its press statement dated 12th May 2020 announced policy measures to safeguard the financial sector...

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NewsLEGAL ALERT: Central Bank Outlaws the Use of Cryptocurrencies in Tanzania

13 November 2019by finandlaw-admin

The Central Bank of Tanzania (BOT) has issued a public notice on 12th November, 2019 against the use of Virtual Currencies (Cryptocurrencies) in Tanzania. The Notice cautions the public against trading, marketing and usage of virtual currency because doing so is contrary to existing foreign exchange regulations. According to the notice, the Central Bank insisted...

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NewsLEGAL ALERT: The Central Bank prohibits Operating Payment Systems Instruments Without Approval

17 October 2019by finandlaw-admin

The Central Bank prohibits Operating Payment Systems Instruments Without Approval: On 15th October, 2019 the Central Bank of Tanzania (Bank of Tanzania) issued a Circular No. LB.178/179/01/8 to all Operating Banks and Financial Institutions in Tanzania warning against engaging, partnering or enter into agreements with other entities to operate payment systems instruments without the Central...

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NewsLegal Alert: Central Bank Requires Banks and Financial Institutions to maintain Primary Data Centre in Tanzania

23 August 2019by finandlaw-admin

Download Central Bank Circular – Location of Primary Data Centre in Tanzania

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Legal UpdateTanzania Central Bank Issues New Regulations on Bureau De Change

16 August 2019by finandlaw-admin

INTRODUCTION: On 21st June 2017 the Bank of Tanzania (BOT) issued a directive to all Bureau de change on re-licensing requirements. The directive among others, required all Bureau de change to be relicensed and comply to operational requirements among others, capital requirements, staffing and governance. Subsequently, late 2018 the Central Bank conducted physical supervisory compliance...

Legal UpdateTanzania Issues New Licensing and Operations Regulations For Forex Bureaux Effective 2023

NewsTanzania issues new Foreign Exchange Regulations. Importers, Exporters and Forex Dealers beware

NewsBank of Tanzania to Conduct Quarterly Survey of Companies with Foreign Liabilities In Tanzania, 2021

Legal UpdateTanzania Legal and Policy Review Amidst COVID-19 Pandemic

NewsLEGAL ALERT: Central Bank Outlaws the Use of Cryptocurrencies in Tanzania

NewsLEGAL ALERT: The Central Bank prohibits Operating Payment Systems Instruments Without Approval

NewsLegal Alert: Central Bank Requires Banks and Financial Institutions to maintain Primary Data Centre in Tanzania

Legal UpdateTanzania Central Bank Issues New Regulations on Bureau De Change

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