Banking and Financial Services
The banking and financial services industry in Tanzania is governed primarily by the Bank of Tanzania Act, 2005, banking and Financial Institutions Act, 2006, and the Foreign Exchange Act, Cap. 271[R. E 2002]. The Acts regulate and supervise the activities of wide range of institutions, which accept deposits from the general public, and provide kindred services.
Persons falling within the scope of the Act are obliged to register as depositing institutions and to comply with onerous duties and restrictions (such as the rendering of returns and the maintenance of certain capital and liquid asset requirements)