DAR ES SALAAM, July 2 -- BANK of Tanzania (BoT) in collaboration with the Tanzania Association of Microfinance Institutions (TAMFI) and the Tanzania Microfinance Union (TAMIU) has signed an agreement to implement a self-regulatory framework to strengthen and formalising tier two microfinance service providers.

The Memorandum of Understanding (MoU) marks the official rollout of a regulatory arrangement first agreed upon in March this year.

The BoT Governor Mr Emmanuel Tutuba said in Dar es Salaam on Tuesday that the goal is to create a more enabling policy and legal environment for the rapidly growing microfinance sector in the country.

“This is part of our joint efforts to establish a friendly policy and legal framework for the m...