Legal and practical challenges relating to protection of right of customers of electronic banking in Tanzania

This study examines the adequacy of legal and institutional frameworks on protection of right of customers of electronic banking in Tanzania. The literature review, field research and qualitative approach for collection and analysis of data and information were adopted. The thesis has observed that the existing laws and institutions, to some extent, provide rights and protection to customers of electronic payment systems, authorization and authentication of customers’ due diligence, contractual terms and customers’ complaints resolution. The study recommends for adoption of different of efficient and responsive legal and institutional frameworks to address the noted inadequacies. In terms of the laws, it recommends for enactment of legislation, both principal and subsidiary, in aspects such as electronic funds transfer, data protection, agent banking, customer due diligence, cross border transactions, risk management and consumers’ complaints resolution. In Relation to institutions, the thesis recommends, amongst other things, for established of banking ombudsman scheme and reactivation of the National consumer Advocacy Council