In this month's banking updater, we review the Bancassurance
Guidelines for Banks and Financial Institutions (the Guidelines)
which were published on 13 May 2019. This updater should be read in
conjunction with our updater of May 2019 in which we reviewed the
Insurance (Bancassurance) Regulations (the Regulations).
As the Tanzanian insurance sector continues to expand and
develop, there has been a concerted effort from the Tanzanian
government to enable this growth in a coordinated and regulated
manner. The inclusion of banks and financial institutions in the
Bancassurance business provides significant opportunities for both
the banking and insurance sectors in Tanzania.
In order to encourage banks and financial institutions to market
insurance products and services in a manner that protects operators
and consumers alike, guidelines have been produced by the Bank of
Tanzania in order to provide banks and financial institutions
confidence to enter a market in which
