FINANCE LAW UPDATE: ANALYSIS OF RECENT AMENDMENTS TO TANZANIA’S FOREIGN EXCHANGE REGULATIONS
November 5, 2023
The Foreign Exchange Regulations, GN No. 294 (the Regulations), were issued by the Governor of the Bank of Tanzania in May 2022. The Regulations was a much awaited update of the Foreign Exchange Regulations, 1998 and the Foreign Exchange (Listed Securities) Regulations, 2003, and the Foreign Exchange Circular No. 6000/DEM/EX.REG/58 of 24th September 1998 which regulated foreign exchange in Tanzania before the Regulations.
Read MoreBANKING AND FINANCE LAW UPDATE: LICENSING OF MICROFINANCE SERVICE PROVIDERS (MSPs) IN TANZANIA AND IMPLICATIONS FOR OPERATING WITHOUT REQUIRED LICENSE.
March 9, 2022
The Microfinance Act No. 10 of 2018 (“The Microfinance Act”) requires all microfinance service providers to obtain license to operate as such from the Bank of Tanzania (“BOT”) or any other regulatory body delegated by the BOT to issue such license. This requirement extends to the microfinance service providers who were operating before enactment of the Microfinance Act
Read MoreCOMPANY LAW UPDATE: EXTENSION OF TIME FOR REGISTRATION OF COMPANY’S BENEFICIAL OWNERS INFORMATION.
January 18, 2022
Enforcement the Companies (Beneficial Ownership) Regulations, 2021 Defining the beneficial owner Mandatory registration of Beneficial Owners by Companies in Tanzania Timeline for registration of Beneficial Owners Time extension for registration of Beneficial Owners’s information 1.0 Introduction As part of the efforts to developing Tanzania in business and investment, but also as a means to regulate corruption […]
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