Tanzania
7 regulators · 16 laws & regulations · 15 obligations
| Obligation | Timing | Regulator | Arises from | Source | Detail |
|---|---|---|---|---|---|
| Banking | |||||
| Prior approval for cloud computing use | Deadline Before implementation | BoT | Cloud Computing Guidelines for Financial Service Providers, 2023 | official | |
Guideline 8 requires prior written approval before adopting cloud for a non-mission-critical system. Guideline 7(a) prohibits hosting mission-critical systems outside Tanzania, and guideline 10 requires a Bank-approved written contract. The guidelines set no incident reporting deadline. |
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| Prior approval for material outsourcing | Deadline Before implementation | BoT | Outsourcing Guidelines for Banks and Financial Institutions 2021 | official | |
Section 7 requires the Bank's prior written approval for material outsourcing or any variation to it. Section 15 requires a Bank-approved written contract and section 14 requires the outsourcing policy to be cleared before use. Section 10(g) prohibits outsourcing a primary data centre outside Tanzania. |
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| Payments & Fintech | |||||
| E-money issuer licensing and trust account safeguarding | Ongoing | BoT | The Electronic Money Regulations, 2015 | official | |
Regulations 12 and 13 require a non-bank issuer to form a separate legal entity and apply for an e-money licence. Regulation 26(2)(a) requires a trust account in a bank, and regulation 24(5) requires e-money in circulation to equal the funds held in the trust or special account. |
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| Fintech sandbox approval before testing | Deadline Apply before testing; testing within 12 months of approval | BoT | Kanuni za Udhibiti wa Mazingira ya Majaribio ya Teknolojia ya Fedha za Mwaka 2024 (Regulations on the Regulatory Sandbox for Financial Technology, 2024) | official | |
Regulation 7 provides for written notice of admission within 45 days, and regulation 7(3) states that approval allows testing only and is not authorisation to offer the solution to the public. Regulation 10(1) requires testing to be completed within 12 months of approval. |
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| Payment system licence from the Bank of Tanzania | Deadline Before operating | BoT | The National Payment Systems Act, 2015 | official | |
Section 5 requires a Bank licence to operate a payment system. Under section 7(4) the Bank decides within 30 days and under section 7(6) a licence is valid for five years unless suspended or revoked. Section 24 requires a licence or approval to issue electronic money. |
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| No obligations match these filters. | |||||