Financial Technology Innovations
Bank of Tanzania Fintech Regulatory Sandbox

The Bank of Tanzania (BOT) promotes financial technologies (FinTechs) and innovations for inclusive and efficient provision of financial services and products through creating enabling regulatory environment.

The FinTech Regulatory Sandbox aims to create a controlled environment through a test and learn approach for deploying financial products and services that are not yet fully covered by existing regulatory requirements under the BOT mandate.

Eligible applicants to the FinTech Regulatory Sandbox are Financial Service Providers and FinTech companies.

For eligibility and application process.

Cautious and risk-based inclusive digital financial innovations

Furthermore, the Bank promotes financial innovations while protecting consumers by interacting with the public though issuance of public notices related with financial technology innovations. For instance, in 2019, a notice was issued to the public cautioning engaging in cryptocurrency operations due to such operations not being regulated by the Bank. In January, 2023, the Bank issued the notice to the Public regarding its progress on Central Bank Digital Currency (CBDC).


National Financial Inclusion Database

The Bank maintains a National Financial inclusion database; continues to explore new areas of inclusive digital financial innovations and has ongoing initiatives in order to formulate appropriate inclusive policy and regulatory responses in the digital financial services space.


Promotion of Inclusive Financial Services Technologies

Financial services providers (FSPs) are rapidly adopting financial services technologies for delivering financial products and services that are easily accessible, convenient, affordable and appropriate for customers. Considering the Bank’s mandate in ensuring financial stability and safety of the payment systems, the Bank is keen to ensure that financial technology introduced in the market complies with appropriate risk mitigation measures that do jeopardize stability of the financial sector and erode consumer trust in financial services.


Financial Service Registry

The Financial Services Registry (FSR) provides geospatial information on all financial access points in Tanzania. This information helps in analyzing the proximity of financial services to where people live and transact in Tanzania. Also, the information about geographical distribution of financial access points informs FSPs on available investment opportunities. https://fsr.bot.go.tz/home