The Bank of Tanzania (BoT) has reaffirmed its commitment to protecting consumers of financial services by outlining a formal procedure for handling complaints lodged against regulated or licensed financial institutions.
In a public notice released on August 6, 2025, the central bank said the procedure is guided by the Bank of Tanzania (Financial Consumer Protection) Regulation, 2019, as amended in 2025. The regulation provides a clear framework for receiving and resolving complaints from users of formal financial services.
According to the BoT, the procedure is designed to ensure fairness and transparency by considering the rights and obligations of both the complainant and the financial service provider.
The process also allows for thorough investigations and, when necessary, collaboration with law enforcement and other stakeholders.
However, the central bank clarified that if a matter falls outside its mandate and is under the jurisdiction of another competent authority, it will inform the complainant and refer the case accordingly.
Importantly, the regulation allows consumers to withdraw their complaint from the Bank of Tanzania at any point and pursue legal redress through the courts or another authorised body with jurisdiction over the matter.
BoT Governor Emmanuel Tutuba said the complaint resolution service is offered free of charge and aims to promote a safe, reliable, and consumer-friendly financial system.
“The Bank of Tanzania provides this service to create a friendly environment for consumers and to strengthen the safety and integrity of the country’s financial sector,” the Governor said in the notice.
The move is expected to boost public confidence in the financial system at a time when access to formal financial services continues to grow across the country.