Bank of Tanzania freezes licensing of forex bureaus
Bank of Tanzania governor Prof Florens Luoga (centre) addressing the press on November 20, 2018. He said the bank will not licences any new forex bureaus. PHOTO | MWANANCHI | NMG
The Bank of Tanzania (BoT) has placed a moratorium on licensing of forex bureaus as the regulator moves to crack down on illegal operations and money-laundering.
“All applications have been suspended and new applications won’t be accepted pending introduction of new rules and regulations,” BoT governor Florens Luoga said Tuesday.
