Central Bank Imposes Penalties on 5 Banks in Tanzania over Money Laundering The Bank of Tanzania (BoT) has imposed monetary penalties to 5 banks for breach of regulations 17, 22 and 28 of the Anti-Money Laundering Regulations, 2012 for failure to conduct proper customer due diligence and file suspicious transaction reports to Financial Intelligence Unit...
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...
INTRODUCTION The Minister for Lands, Housing and Human Settlement Development has on 25th March, 2019 issued new regulations titled, the Land (Procedure for Mortgage of Land) Regulations 2019 (Government Notice No. 345 of 2019). These regulations put into effect the restriction to mortgage bare and underdeveloped lands as security for loan in Tanzania. The...
Introduction The High Court and Court of Appeal of Tanzania have recently made decisions on Bank rights to recover the repayment from the Customers and Guarantors. The recent decisions of the that are the central to this digest entails the Decision of the High Court Commercial Division in Bank of Africa Tanzania Limited V. Rose...
FIN & LAW and Cross Border Associates (CBA) entered into an agreement for global alliance to facilitate global cross-border mid-market mergers and acquisitions and all related services.
