Tanzania

Issued in January 2025 under section 71 of the Banking and Financial Institutions Act, 2006, for all banks and financial institutions. Sets governance and risk-management expectations for climate-related financial risk and requires disclosures aligned with IFRS S2. Revokes the 2022 version.

Issued in January 2025 under section 71 of the Banking and Financial Institutions Act, 2006. Requires banks and financial institutions to disclose sustainability governance, strategy, risk management, and metrics and targets, with a statement of compliance with IFRS sustainability disclosure standards (s. 18).

Lets eligible applicants test financial technology solutions in a controlled market environment with Bank of Tanzania approval. The text cites Government Notice No. 552 of 5 July 2024 and no English title appears on the Bank's copy.

Published on 13 October 2023. Requires a CMSA licence to operate a crowdfunding platform, limits issuers to USD 150,000 a year and retail investors to USD 500 per issuer, and bars resale for one year.

Requires prior written Bank approval to adopt cloud for a non-mission-critical system and bars hosting mission-critical systems outside Tanzania. Cloud contracts and policies need Bank approval or clearance before use.

Company law. Its index lists a register of beneficial owners (s. 456), access to beneficial owner information (s. 457) and submission of beneficial ownership information (s. 469). Section 15(2)(b) requires beneficial owner details on registration.

Published on 3 June 2022 under section 29 of the Anti-Money Laundering Act. Covers risk assessment, customer due diligence, suspicious transaction reports, record retention and administrative sanctions, and revokes the 2012 regulations (GN No. 289).

Creates the Personal Data Protection Commission, requires controllers and processors to register, sets processing principles and gives data subjects rights of access, objection and compensation. Commenced on 1 May 2023 (GN No. 326 of 2023); the English text is Chapter 44, published as GN No. 395B of 13 June 2023.

Issued on 17 June 2021. Requires banks and financial institutions to obtain prior written Bank approval for material outsourcing and to have outsourcing contracts approved. Prohibits outsourcing a primary data centre outside Tanzania.

Sets out who may issue e-money, the licence application for non-bank issuers, and the trust and special account arrangements for customer funds. Issuers file monthly data on Form G (reg. 42). The Bank's copy shows a blank Government Notice number.

Act No. 13 of 2015. Covers electronic signatures, electronic contracts, admissibility of data messages as evidence, e-government services and certification service providers. The Minister for ICT may designate a regulator for cryptographic and certification services (s. 33), and the text names none.

Act No. 4 of 2015. Bars operating a payment system without a Bank of Tanzania licence (s. 5) and issuing electronic money without a licence or approval (s. 24). Payment system providers must submit the returns the Bank prescribes (s. 43).

FIU guidelines for banking institutions, effective 1 April 2009 under the Anti-Money Laundering Act, 2006. They cover customer due diligence, record keeping, suspicious transaction reporting and the MLRO role. They set a five-year minimum for records, shorter than the ten years in the current Act.

Act No. 4 of 2006. Continues the Bank of Tanzania as a corporation (s. 4(1)) and gives it the sole right to issue banknotes and coins (s. 26). The fintech sandbox regulations cite it as Cap. 197.

Act No. 5 of 2006. Governs banks and financial institutions in both Tanzania Mainland and Zanzibar (s. 2(1)), with the objective of keeping the financial system stable, safe and sound (s. 5). The Bank of Tanzania administers it.

Mainland Tanzania's AML statute. Section 4 sets up the FIU, and the Act defines a virtual asset service provider and brings decentralised virtual currency exchangers, wallet providers and payment processors within 'financial institution'. Sets customer due diligence, record keeping, suspicious transaction reporting and compliance programme duties.