Financial consumer protection regulations In January, we published an update on the new Bank of Tanzania Regulations on financial consumer protection. The update explored key provisions of the Bank of Tanzania (Financial Consumer Protection) Regulations that were published as Government Notice No. 884 of 2019 (the Regulations). Key players under the Regulations are the financial consumer, the financial service providers and the Bank of Tanzania ( BOT). The Regulations make it imperative for financial service providers to adopt policies and a mechanism for ensuring financial consumer protection. Every financial service provider must have a structure of governance that ensures effective implementation of consumer protection. The Regulations also provide for non-discrimination of consumers and the need for financial service providers to adopt transparent consumer contracts with fair terms. The Regulations also provide for the requirement of financial service providers to establish complaints handling and redress mechanism.