December 2020: Update on recent developments for investors across East Africa
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Following a new circular recently issued by the Bank of Tanzania, we look at the requirement for banks and financial institutions to adopt new measures in relation to the ratios of cost-to-income and non-performing loans in Tanzania.
In summary, the Circular[1] states that all banks and financial institutions in Tanzania:
With the outbreak of COVID-19 globally, the measures introduced by the Circular aim to ensure that the Tanzanian banking sector continues to operate in a safe, sound and stable manner.
[1] Circular number FA.130/170/01/5 (the Circular) issued on 22 January 2021
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