Regulatory Alerts2007-07-11
Definition of Branches, Agencies, Specialized Units and Head Office Support Units
The Bank of Namibia issued Circular BIA 4/07 to establish standardized definitions for branches, sub-branches, agencies, ATMs, specialized units, and head office support units. Banking institutions must reclassify their networks according to these criteria and submit them via the BIR 200 return, classifying sub-branches as agencies until the reporting form is updated. The circular takes effect on 1 September 2007, requiring all banking institutions to comply and ensuring consistent, comparable branch network reporting across the sector.
Share