Paper
Banking and FInancial Institutions Act 1991 (The United Republic of Tanzania)
Laws relating to the business of banking in Tanzania
Download
65 pages
This paper is an official document of the United Republic of Tanzania, dealing with an Act to foster banking operations in the country. The paper is divided into ten parts describing different components of the Act, and presenting various supplementary acts.
Parts I and II of the Act deal with:
- The general scope and terminology used in the Act;
- Issues related to licensing of the banking and financial institutions;
- The power of the bank to issue banking license and carry the banking operations;
- Revoking of the banking license.
Parts III and IV discuss:
- Issues related to minimum capital requirements of a bank;
- Computation of capital and financial ratios;
- Issues related to supervision, regulation and control;
- Aspects associated with the auditing of the bank;
- Establishment of branches and transfer of ownership.
Parts V and VI explain:
- Establishment of deposit insurance fund and formation of deposit insurance board;
- Role and powers of the board;
- Issues relating to special duties of these entities;
- Publication of financial statements and dealings with the abandoned properties.
Parts VII to X highlight:
- Penalties and restrictions that can be imposed on these entities;
- Issues regarding liquidation, reorganization and representative offices of foreign banks and financial institutions.
About this Publication
Published
