| 1. |
The
name of the Company is “THE TANZANIA INSTITUTE OF
BANKERS LIMITED”.
|
| 2. |
The
registered office of the Company shall be situated at Dar es Salaam
in the United Republic of Tanzania.
|
| 3. |
The
objects for which the Company is established are: |
| |
(a) |
To
promoted, encourage and provide opportunities for members to acquire
knowledge of the theory and practice of banking and to facilitate
the consideration and discussion of matters of interest to bankers
and persons associated with banks and financial institutions; |
| |
(b) |
To
act as a regulatory and disciplinary body for the banking profession
and to promote professional integrity and ethics and to set standards
for the banking profession; |
| |
(c) |
To
set, mark and conduct or approve examinations in banking subjects
and accordingly to issue diplomas and certificates either alone or
jointly with other educational or professional bodies. |
| |
(d) |
To
liaise with other educational bodies, colleges and institutions of
higher learning and cooperate in the developing of teaching syllabus
of the diploma in banking but with the Company remaining the examining
body responsible for setting papers, moderating and appointing of
examiners. |
| |
(e) |
To
facilitate the consideration and discussion of matters of interest
to bankers an persons associated with development banking, capital
markets and financial markets; |
| |
(f) |
To
provide facilities for reading, discussion and publication of approved
papers by members of the Company and others and to arrange for the
delivery of lectures and the provision of instructions on banking
and other subjects of interest or practical use to bankers. |
| |
(g) |
To
establish, maintain and operate libraries containing, principally,
works on banking, commerce, finance, economics, law and all other
allied subjects; |
| |
(h) |
To
undertake research in the field of banking and other related financial
matters; |
| |
(i) |
To
arrange the production and publication of journals, newsletters and
any other publications pertaining to banking and allied subjects in
order to distribute such publications and journals to the members
and others alike; |
| |
(j) |
To
take any measures which may be considered desirable to further the
interests of banking and any person associated with banking;
|
| |
(k) |
To
affiliate, as the Governing Council deems fit, with any body or organisation
whether in Tanzania or abroad whose interest and or objects are similar,
related or complementary to those of the Company and to represent
the banking profession both nationally and internationally; |
| |
(l) |
To
provide facilities for social functions for its members and between
its members and those of other bodies, societies, institutes or associations; |
| |
(m) |
To
stimulate, forge and foster cooperation with other institutes of bankers
and create opportunities for interaction thereon; |
| |
(n) |
To
buy, acquire, own, improve, lease, hire, dispose of and deal in property
including stocks, shares, securities and other assets;
|
| |
(o) |
To
borrow money on security, or without security, and in the former case,
to furnish any form of security, including mortgages, pledges or hypothecation
of its assets or any of them; |
| |
(p) |
To
invest any of its monies in such manner and on such terms, and in
or on the security of, such assets as may from time to time be deemed
expedient, including fixed and other deposits, stocks and bonds. |
| |
(q) |
To
open and operate a banking account or accounts and to draw, make,
accept, endorse, discount, execute and issue promissory notes, bills
of exchange, cheques, warrants, debentures and other instruments. |
| |
(r) |
To
do all such things as desirable, necessary and or incidental to or
the attainment of its objects or any of them. |
| 4. |
The
income and property of the Company, whencesoever derived, shall
be applied solely towards the promotion of the objects of the Company
as set forth in this Memorandum of Association, and no portion thereof
shall be paid or transferred, directly or indirectly, by way of
dividend, bonus or otherwise howsoever by way of profit, to the
members of the Company. Provided that nothing herein shall prevent
in good faith of remuneration to any officer or servant of the Company,
or to any member of the Company or other person, in return for services
actually rendered to the Company. |
| 5. |
The
liability of the members is limited. |
| 6. |
Every
member of the Company undertakes to contribute to the assets of
the Company in the event of the same being wound up during the time
that he is a member, or within one year afterwards, for payment
of the debts and liabilities of the Company contracted before he
ceases to be a member, and of the costs, charges and expenses of
the winding up, and for the adjustment of rights of the contributories
amongst themselves. The sum to be contributed by each subscriber
to this Memorandum of Association shall not exceed Shillings 200,000.
All other members of the Company shall contribute a sum not exceeding
Shillings 20,000 unless the Company in the general meeting shall
otherwise determine. If the total sum required on winding up for
payment of debts and liabilities of the Company and of the said
costs, charges and expenses shall be less than shillings 200,000
then the corporate members shall contribute thereto in proportion
to their maximum specified liability. |
| 7. |
Where
upon winding up or dissolution of the Company there remains after
the satisfaction of all its debts and liabilities any property whatsoever,
the same shall not be paid or distributed among the members of the
Company but shall be given or transferred to some other institution
or institutions having objects similar to the objects of this Company,
and which shall prohibit the distribution of its or their income
and property among its or their members to an extent at least as
great as is imposed on the Company under or by virtue of Clause
4 hereof, such institution or institutions to be determined by the
members of the Company at or before the time of dissolution and
in so far as effect cannot be given to such provision hereto the
same shall be transferred to some other institution or institutions
having objects similar to the objects of the Company. |
| 8. |
True
accounts shall be kept of the sum of money received and expended by
the Company, and the manner in respect of which such receipt and expenditure
takes place, and the property, credits and liabilities of the Company,
and subject to any reasonable restrictions as to the time and manner
of inspecting the same that may be imposed in accordance with the
regulations of the Company for the time being shall be open to the
inspection of the members. Once at least in every year the accounts
of the Company shall be examined and the correctness of the balance
sheet ascertained by one or more properly qualified auditor or auditors. |
| We,
the several persons whose names and addresses are subscribed are desirous
of being formed into an association in pursuance of this Memorandum
of Association. |