Paper
Tanzania: Circular No. 7
Instructions for filing reports by banks and financial institutions
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69 pages
This document is the circular issued by the Bank of Tanzania (BOT) to all banks and financial institutions under its authority. The circular, in particular, lays down the instructions for filing reports which are to be furnished to BOT on a periodic basis.
The document is divided into sections and some of the broad areas on which the circular provides detailed information are:
- Glossary of all the technical terminologies used for making financial reports and also for day-to-day use;
- The policy statement of entrusting Central Banks to ensure that monetary stability and overall soundness is maintained in the banking industry;
- The kinds of accounts and financial statements that the banks are to furnish on a periodic basis after proper auditing;
- The verification criteria that the banks are to employ to check whether the details furnished by all banks and financial institutions are correct;
- Penalties and sanctions that are likely to be invoked in case of non-compliance to different requirements of the sections as outlined in the document.
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