Regulatory Alerts2012-07-09
Branches of Foreign Banking Institutions
The Bank of Namibia issued Determination BID-22 to establish regulatory conditions and limitations for branches of foreign banking institutions operating in Namibia. The regulation mandates a minimum net asset value of N$8.5 billion, an acceptable long-term investment grade debt rating, and the appointment of at least two resident executive officers to ensure fit-and-proper management. Branches must maintain valid letters of comfort, comply with monthly and quarterly reporting obligations, and adhere to prudential capital requirements while remaining subject to consolidated home regulator supervision.
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