1. These Regulations may be cited as the Banking and Financial Institutions (Mortgage Refinance Companies) Regulations, 2022.
Application
2. These regulations shall apply to all Mortgage Refinance Companies in the United Republic of Tanzania.
3. In these regulations unless the context requires otherwise:
- “Act” means the Banking and Financial Institutions Act;
- “Bank” means the Bank of Tanzania;
- “borrower” means a bank or financial institution eligible to borrow funds from Mortgage Refinance Companies;
- “core capital” has the meaning ascribed to it in the Act;
- “debenture charge” means a document that grants lenders a charge over a borrower's assets, giving them a means of collecting debt if the borrower defaults;
- “member primary mortgage lender” means a bank or financial institution that has subscribed share capital to a Mortgage Refinance Companies.
