Regulatory Alerts2025-01-21
NBFIRA Directive on Issuing Repayment Schedules to Borrowers
The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has issued a directive requiring all non-bank lenders in Botswana to provide borrowers with formal repayment schedules. Effective April 1, 2024, this mandate exercises the regulator's statutory powers under Section 56(1)(f) of the NBFIRA Act, 2023 to safeguard client interests and enhance sector stability. Micro lenders, pawnshops, and finance companies must comply by distributing clear repayment schedules to ensure transparent and orderly financial operations.
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