Serikali imefanya marekebisho kwa sheria ya Benki kuu.
Kuruhusu watu nje ya nchi kununua treasury bonds.
Hii ni hatari kwa uchumi wetu.
We are officially sold out.
View attachment 2255809
BOT - RUKSA SASA WAKAAZI/ WATANZANIA KUNUNUA HATI FUNGANI KTK NCHI ZA SADC / KUFUNGUA AKAUNTI KWA HELA YA KIGENI / KUNUNUA FEDHA ZA KIGENI US$ 10,000 WANAPOSAFIRI New Foreign Exchange Regulations Issued Set foreign exchange limits for travelers Restrictions for residents to maintain bank...
BOT - RUKSA SASA WAKAAZI/ WATANZANIA KUNUNUA HATI FUNGANI KTK NCHI ZA SADC / KUFUNGUA AKAUNTI KWA HELA YA KIGENI / KUNUNUA FEDHA ZA KIGENI US$ 10,000 WANAPOSAFIRI
New Foreign Exchange Regulations Issued
- Set foreign exchange limits for travelers
- Restrictions for residents to maintain bank accounts outside Tanzania
- Forex transactions only through banks
- Payments by non-residents through banks
- Limitations on dealing between affiliates provided
- Guidance on how to remit dividends to shareholders
- Set requirements for capital and financial account transactions
- TZS 1M fine per day for non-registration of a foreign loan
- Conditions provided for outward direct investment and purchase of real assets by residents
- Governor vested with powers to grant exemptions
- Penalties in the Act cemented
- Repeal the 1998 and 2003 Regulations
In exercise of his power under section 6 of the Foreign Exchange Act, the Governor of the Bank of Tanzania has issued new detailed foreign exchange Regulations vide the Foreign Exchange Regulations, 2022 (the Regulations) which came into force on 13 May 2022.
Regulation 3(2) of the Regulations provides that residents travelling abroad may be issued with foreign currency by a bank, financial institution or bureau de change of an amount not exceeding USD 10,000.
It should be noted that the same limitation is provided for under the Foreign Exchange (Bureau de Change) Regulations, 2015. Further to the above and prior to issuance of the said amount, a resident will be required to submit documentary evidence of residence and valid travelling documents.
The Regulations prohibit residents to open or maintain a bank account outside Tanzania except where there is a settlement of securities in the prescribed territory (a member country of the East African Community or Southern Africa Development Community countries) or where one obtains an approval from the Governor.
The Regulations define resident as a person who resides consecutively or whose centre of predominant economic interest is in the United Republic for twelve months or more. Although these Regulations remain untested, it would seem that an expatriate who is working in Tanzania for more than twelve months may not be able to operate a foreign bank account in their country of residence without permission of the Governor.
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New Foreign Exchange Regulations Issued – FB Attorneys