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As of 19 December 2025, any person intending to undertake non-interest banking, such as Sharia-compliant banking, must be duly licensed by the Bank of Tanzania (BoT) and conventional banks and financial institutions wishing to operate non-interest banking windows must obtain BoT approval prior to commencing operations.
16 January 26
Other Insights:
In part one of our legal alert series covering Islamic Banking in Tanzania, we highlight the key regulatory requirements introduced by the new Banking and Financial Institutions (Non-Interest Banking Business) Regulations (the Non-Interest Banking Regulations) and their impact on Shari’ah-compliant (non-interest) finance.
Click here to download and read the full alert.
Should you have any questions regarding the information in this legal alert, please do not hesitate to contact Geofrey Dimoso or Samiath Mohamed.
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Contributor
Ruth Nnko – Trainee Lawyer