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Thursday, 3 July 2014

MOBILE FINANCIAL SERVICES IN TANZANIA: THE CURRENT AND FUTURE STATUS OF THE LEGAL AND REGULATORY FRAMEWORK


Tanzania is one of the fastest growing mobile markets and mobile financial services are at the heart of this burgeoning sector. With upcoming regulation from the Bank of Tanzania seeking to tighten the legal and regulatory framework of the 
sector, this month’s updater looks at the current legal and regulatory status and its future.

Mobile financial services (M-Banking) is a term used to explain financial services delivered by way of mobile networks using mobile phones. In general, such services include depositing, withdrawing, sending, saving and transferring money as well as making payments. Tanzania has witnessed a material growth in relation to M-Banking over recent years and has been at the forefront of such services. With new legislation pending, we take a look at the current status of both the legal and regulatory framework that governs M-Banking and what one can expect from the future.

Click here to access the full Clyde & Co Banking & Finance Updater.


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