ISLAMIC BANKING REGULATORY PERSPECTIVE AND FINANCE FOR BFI’s

Class Description

TRAINING ON ISLAMIC BANKING REGULATORY PERSPECTIVE AND FINANCE

FROM  13^TH TO 17^TH NOVEMBER 2023 AT THE BANK OF TANZANIA MWANZA BRANCH

A. INTRODUCTION

The Bank of Tanzania is the Central Bank of the United Republic of Tanzania established by the Bank of Tanzania Act of 1965, It became operational on 14^th June 1966. Currently, the Bank of Tanzania operates under the Bank of Tanzania Act, 2006.

The primary objective of the Bank is to formulate, define and implement monetary policy directed to the economic objective of maintaining domestic price stability conducive to a balanced and sustainable growth of the national economy. Other Functions of the Bank of Tanzania includes:

• Issuance of currency;
• Regulating and supervising commercial banks and financial institutions, including mortgage financing, development financing and lease financing;
• Regulating, monitoring, and supervision of payment, clearing and settlement systems;
• Guardian of the Country’s Reserves;
• Governments’ Bank;
• The Bankers’ Bank; and
• The Advisor to the Governments on economic and financial matters

B. OBJECTIVE OF THE COURSE

The objective of the training is; –

• To inculcate the understanding of the participants on Islamic Banking and Finance

• To get the insight of the development and implementation of the Islamic Banking Framework in Tanzania
• To understand challenges facing Islamic banking and finance in Tanzania
• To understand the role of Islamic banking and finance to country’s financial inclusion and ultimate country’s development

C. COURSE CONTENTS

•   The History and Development of Islamic banking and finance
• Components of Islamic banking and finance
• Islamic banking Global Trends
• Islamic banking principles practices
• Shari’ah -Governance and Compliance in Islamic banking
• Challenges Facing Islamic banking
•  Islamic Windows: Practices and Challenges
• Islamic Insurance: A link to Islamic Banking
• Islamic Capital Markets: The Backbone of Islamic banking
• Taxation Issues of Islamic Banking
• Accounting and Auditing of Islamic banking and Finance: The Issue of IFRS 17

D. TARGET GROUP

Officers from the Bank of Tanzania, banks, financial institutions, and any other Islamic banking and finance stakeholder

 E. SCHEDULED DATES AND DURATION

One (1) week: From 13^th to 17^th November 2023. First Day Registration starts at 08.30 AM.

F. SPECIAL REQUIREMENTS

Each participant is required to bring his/her own laptop. The Bank of Tanzania will provide network connectivity.

G.  COURSE FACILITATOR

The Bank of Tanzania Academy

H. VENUE

Bank of Tanzania Mwanza branch

 I.  FEE

The fee for each participant is TZS 1.0 million covering tuition, course materials, lunch, and mid-session refreshments. Participants will be responsible for their travel costs and upkeep. Please make the payment of your fees using the following channel:

Bank Transfer through TISS Transferee Bank: Bank of Tanzania

Account Number:              9944713006

Account Name:                Course Fees           

SWIFT CODE:                   TANZTZTXXXX

J. MODE OF APPLICATION

Send a letter, e-mail, or make a phone call to the Academy through any of the mentioned contacts below. The course will accommodate twenty-five (25) participants and the first come first served principle will apply. Applications should reach us at least two (2) working days before commencement of the course.

All applications should be addressed to:

The Principal,

Bank of Tanzania Academy,

P.O. Box 131, Capri-Point,

MWANZA

+255 (0) 28 2 500 982/709/983 +255 (0) 28 2 500 984

Email: academy@bot.go.tz