Regulatory Alerts2021-11-11
Added · Updated
Application for Registration of a Medical Aid Fund (MAF.S.7.14)
The Namibia Financial Institutions Supervisory Authority (NAMFISA) issued Standard MAF.S.7.14 to prescribe the mandatory procedures and documentation for registering a medical aid fund under the Financial Institutions and Markets Act, 2021. Applicants must submit a completed application form alongside certified fund rules, a valuator’s financial soundness certificate, proof of establishment authority, fee payment, and evidence that key personnel meet fit-and-proper and independence criteria. The standard applies to all existing and proposed medical aid funds, requiring boards, principal officers, sponsors, and fund administrators to ensure all submissions are accurate and promptly updated within thirty days of any material changes.