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Legal UpdateRegulation Of Microfinance Business In Tanzania Now In Full Fledge

28 November 2019by finandlaw-admin

INTRODUCTION The Central Bank of Tanzania (Bank of Tanzania) has finally issued the regulations governing Microfinance Business in Tanzania. The regulations come in trio containing, Microfinance (Non-Deposit Taking Microfinance Service Providers) Regulations 2019 (GN No. 679 of 2019), Microfinance (Savings and Credit Cooperative Societies) Regulations 2019 (GN No. 675 of 2019), The Microfinance (Community Microfinance...

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NewsLegal Alert: 12 months for Microfinance Companies in Tanzania to comply with Microfinance Act or face Deregistration

1 November 2019by finandlaw-admin

Effective 01st November, 2019 Microfinance Companies in Tanzania have 12 months to comply to the licensing requirements of the Microfinance Act, Cap. 407. According to Regulation 12 of the Microfinance (Non-Deposit Taking Microfinance Service Providers) Regulations, 2019, Microfinance Companies that were operating business before the commencement of the Microfinance Act and fails to meet the...

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