For those undertaking MFIs, the move below by the Regulator might affect them as well.
The Bank of Tanzania (BoT) plans to increase the minimum capital requirement for commercial banks to Sh15 billion from the current Sh5 billion in a bid to strengthen crisis preparedness. In its Monetary Policy Statement for June 2010. BoT also says it will raise the minimum capital requirement for non financial institutions from Sh2.5 billion to Sh7.5 billion and the maximum insurance coverage per depositor per bank from Sh500, 000 to Sh1.5 million.
The Citizen, National News, June 16, 2010, Page 1
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