THE BANKING AND FINANCIAL INSTITUTIONS ACT, 2006 [TANZANIA]

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THE BANKING AND FINANCIAL INSTITUTIONS ACT, 2006 [TANZANIA]
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ARRANGEMENT OF SECTIONS
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PART I
PRELIMINARY PROVISIONS
Section Title
1. Short title and commencement.
2 Application.
3 Interpretation.
PART II
LICENSING, REGULATION AND SUPERVISION TO VEST IN THE BANK
4. Licensing, regulation and supervision to vest in the Bank.
5. Underlying objectives of the Act.
PART III
LICENSING, OWNERSHIP AND STRUCTURE OF BANKS AND FINANCIAL
INSTITUTIONS
6. Prohibition on operating without a licence.
7. Power of the Bank to grant licence.
8. Application for a licence.
9. Investigation and review of application.
10. Grant or denial of a licence.
11. Duration, suspension and revocation of a licence.
12. Persons not eligible to take part in the management and board of
banks and financial institutions.
13. Restriction on the use of the word ‘bank’.
14. Designation of microfinance companies and housing finance
companies.
15. Restrictions on ownership of banks and financial institutions......