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The regulations aim to regulate and provide guidance for Sukuk business operations in the United Republic of Tanzania, including supervisory mechanisms, operational standards, and disclosure requirements, with the broader goal of diversifying alternative financing product..
This article aims to highlight key changes brought forth by the Capital Markets and Securities (Investment - Based Crowdfunding) Guidelines (the Guidelines). The Guidelines came into force through Government Notice No. 732 of 2023 published on 13 October 2023, and apply t..
In this legal update, we discuss key highlights of the Foreign Exchange (Bureau de Change) Regulations of 2023 (the 2023 Regulations), which came into force on 6 October 2023 and revokes the Foreign Exchange (Bureau de Change) Regulations of 2019 (the 2019 Regulations). A..
The Bank of Tanzania (BoT) has recently issued draft regulations for establishing a Regulatory Sandbox, the Fintech Regulatory Sandbox Regulations 2023. The Regulations aim to create a conducive environment for innovative fintech to be test..
On 13 October 2023, the Tanzania Communications Regulatory Authority (TCRA) issued a Public Notice regarding the use of Virtual Private Network (VPN) in the country. It should be noted that VPN is an encrypted connection over the Internet from a device to a net..
Banks and financial institutions (Bank(s)) are highly regulated in Tanzania. Their compliance with Tanzanian laws and regulations is of paramount importance to ensure smooth operations and transparency. Notably, an example of noncompliance with the relevant Banks laws inc..
On 22 September 2023, the Minister for Industry and Trade issued detailed procedures for submission of information of Beneficial Ownership (BO) vide the Business Names (Beneficial Ownership) Regulations, 2023, GN No. 714 of 2023 (the Regulations).
On 1 September 2023, the Minister for Industry and Trade (the Minister) issued the Business Licensing Regulations, 2023 (the New Regulations), vide the Government Notice No. 626 of 2023.
In a significant development, the Foreign Exchange Regulations, initially published in May 2022, have undergone crucial amendments through the Foreign Exchange (Amendment) Regulations, 2023, published on 1 September 2023 via Government Notice ..
