Tanzania Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices

World Bank Group

World Bank, Washington, DC

关键词: financial literacy;    financial consumer protection;    financial disclosure;    data protection;    privacy;   

RP-ID  :  111737

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

In 2011, only 17.3 percemt of adults inTanzania had an account at a formal financial institutionand 56 percemt did not have any access to financialservices. Most of the population lives in rural areas withvery low incomes and poor infrastructure, and women areespecially disadvantaged. Such limited access to formalfinancial services also inhibits financial literacy –awareness of benefits and risks, and how to take advantageof opportunities. Despite significant challenges, allinstitutional elements of the formal financial sector inTanzania are in place, helping its gradual expansion, and insome segments technology is driving rapid growth –particularly in mobile and electronic payments. Still, gapsand weaknesses in financial consumer protection andfinancial education remain some of the main obstacles tosustainability and greater trust in the financial sector.This Diagnostic Review was requested by the Ministry ofFinance of Tanzania in November 2012. It provides a detailedassessment of Tanzania’s institutional, legal and regulatoryframework against the World Bank’s Good Practices forFinancial Consumer Protection. Three segments of thefinancial sector have been analyzed: banking, microfinance,and pensions. Insurance and securities segments will beconsidered at a later stage. Volume I of the Reviewsummarizes the key findings and recommendations and VolumeII presents a detailed assessment of each financial segmentcompared to the Good Practices.