• About Us
  • Contact
Thursday, March 23, 2023
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Economic

EAC, SADC and Tanzanians in diaspora need to open securities accounts to participate in Government securities market

by Editor
11/08/2022
in Economic, Markets
0
EAC, SADC and Tanzanians in diaspora need to open securities accounts to participate in Government securities market
Share on FacebookShare on Twitter

Tanzania’s Central Bank has issued new guidelines for residents of the East African Community (EAC), SADC region and Tanzanian citizens in the diaspora to participate in the primary auctions and subsequently secondary trading of securities issued by the Government of Tanzania.

BoT Tanzania Head Office in Dar es Salaam . Residents of EAC, SADC and Tanzanian citizens  in the diaspora are required to open securities accounts through the registered Central Depository Participant (CDP). Photo / courtesy.

The Government securities that shall be traded include the Treasury bills of 182 and 364 days’ maturity and Treasury bonds of 2, 5, 7, 10, 15, 20 and 25 years’ maturity.

According to public notice issued by the Bank of Tanzania (BoT), residents of EAC, SADC and Tanzanian citizens  in the diaspora are required to open securities accounts through the registered Central Depository Participant (CDP).

CDPs are banks licensed under the Banking and Financial Institutions Act and Broker-Dealers licensed under the Capital Markets and Securities Act in Tanzania.

CDPs are required to observe and ensure that the process of opening securities accounts for investors from other EAC and SADC regions, and Tanzanian citizens in diaspora involve market intermediaries licensed by the Capital Market Authority or Central Bank of the respective countries. In so doing, all market intermediaries will be required to adhere to the Anti-Money Laundering (AML) and combating financing of Terrorism (CFT) regulations.

According to the notice, secondary trading of Treasury bonds shall take place at a Stock Exchange in Tanzania that has been approved by the Capital Markets and Securities Authority. An investor wishing to buy or sell Treasury bonds shall approach the Dar es Salaam Stock Exchange (DSE) through a licensed broker/dealer to obtain details on trading procedures and the settlement currency shall be in Tanzanian Shillings.

“To make payment and receive proceeds in respect of securities transaction, an investor shall open and maintain a Securities Settlement Account with a bank or financial institution or appoint a custodian in Tanzania,” the notice said.

Editor

Editor

Next Post
International tourism on way to full recovery, says UN agency

International tourism on way to full recovery, says UN agency

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Thu, 23 Mar.

Recommended

EABL picks Serengeti Breweries Boss Mark Ocitti to head Kenya Breweries

EABL picks Serengeti Breweries Boss Mark Ocitti to head Kenya Breweries

2 months ago
All set for the 22nd Ordinary EAC Heads of State summit in Arusha

All set for the 22nd Ordinary EAC Heads of State summit in Arusha

8 months ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Others
    • Q&A Interviews
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili