The Tanzanian Central Bank (BCT) gave banks and financial institutions three months to comply with the rules for the local establishment of operational data centers.
a press release on Sunday, August 25, signed by the “Bank of Banks” said that any financial institution and credit that does not apply this new measure is subject to heavy fines. This sanction can reach up to 5 billion Tanzanian shillings (2.18 million dollars).
Speaking on this issue, the deputy central bank governor for financial stability, Bernard Kibesse, pointed out that most banks do not attach importance to setting up a primary data center or secondary school in Tanzania.
On this, the manager stressed that now drastic measures will be implemented to force financial institutions to comply with the rules in force concerning data centers.
As a reminder, for more than 5 years, the regulator of the financial sector sends formal notices to banks and financial institutions to encourage them to locate the data centers in the country instead of performing them on servers abroad.
