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FEDHA YATOA HUDUMA NDOGO ZA USHIRIKA WA AKIBA NA MIKOPO LA MWAKA 2019
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Tanzania: Government Issues Guidelines for Mortgage Refinance Companies and Financial Leasing Firms
Dar es Salaam, Tanzania - July 2019
The government of Tanzania has issued new guidelines for mortgage refinance companies and financial leasing firms to improve the country’s financial sector. The guidelines aim to provide clarity on the roles and responsibilities of these institutions, ensuring transparency, stability, and efficiency in their operations.
Key Requirements
- Mortgage refinance companies must have a minimum capital base of TShs 5 billion (approximately USD 2.3 million).
- Financial leasing firms must have a minimum capital base of TShs 10 billion (approximately USD 4.6 million).
The guidelines also outline requirements for:
- Loan applications
- Creditworthiness assessments
- Loan disbursement procedures
Additional Regulations
In addition to the mortgage refinance and financial leasing guidelines, the government has issued new regulations for foreign exchange bureaus to improve the management of foreign exchange transactions in the country.
Other Developments
The government has also issued several other guidelines and regulations aimed at improving the financial sector, including:
- Guidelines for banking consumer complaints
- Risk management guidelines for banks
- Anti-money laundering guidelines for banks
- Social security schemes investment guidelines
These developments are expected to improve the overall stability and efficiency of the financial sector in Tanzania, promoting economic growth and development.
Download Guidelines
The government has made all these guidelines available for download on its website. To access them, visit the website and click on the “Guidelines” section.
Contact Us
For more information on these developments, please contact us at [insert contact information]. We would be happy to assist you with any questions or concerns you may have.