Tanzania - Apply for a Microfinance Bank License

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Procedure

Apply In-Person:

1. Application form for getting a microfinance banking business license is available in Bank of Tanzania contact link
2. Applicant should provide all information that is requested in the application form.
3. Applicant must make sure to carry both photocopies and originals of all documents that are needed for completing this procedure.
4. Documents that are needed for completing this procedure are mentioned under the “Required Documents” section of this page.
5. Applicant should attach photocopies and originals of all documents (whichever is necessary) along with the application form before submitting it at the office.
6. Fee for this procedure has to be paid as per the authority’s request.
7. If all these procedures were followed properly by the applicant, the license will be provided within a stipulated period of time.
8. If there is no information regarding the license is provided, the applicant can visit the office to know status of their application.

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Required Documents

• Owning certificate/Rental documents or Lease Agreement Document for the office premises
• Certificate of Incorporation
• TIN Certificate
• Registration Certificate from Sector Ministry/Agency for the Permit to operate in the sector
• Memorandum and Articles of Association
• ID Proof – Passport/National ID/Driving License
• Power of Attorney
• Tax Clearance Certificates

Office Locations & Contacts

Bank of Tanzania
Location: Dar es Salaam
Address: Mirambo St, Dar es Salaam, Tanzania
Contact No: (+255) 222 233 000
Contact link
Location link

Eligibility

• Any working individual in Tanzania who is willing to start a microfinance banking business is eligible.

Fees

• Fee for this procedure has to be paid as per authority’s request.

Validity

• Microfinance Bank License is valid for the period mentioned in it.

Documents to Use

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Sample Documents

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Processing Time

• The processing time for this procedure will be mentioned by concerned authorities.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicant should make sure to follow all instructions provided by concerned authorities.
• Applicant must complete the application form before submitting it at the office.
• If any other document is requested by concerned authorities at the time of applying, it has to be provided by the applicant.

Required Information

• Name of the Applicant
• Age
• Date of Birth
• Contact Number
• Email Address
• Contact Person
• TIN Number
• Address of the office premises
• Physical Address
• Postal Address

Need for the Document

• This license is necessary for operating a private microfinance bank or financial institution in Tanzania.

Information which might help

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Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

• Bank of Tanzania link

Others

More information which might help people.