Regulatory Alerts2019-06-14
Directive on Cut-off Times within the Namibia Inter-Bank Settlement System
The Bank of Namibia issued this directive to mandate specific cut-off times for payment clearing house batches within the Namibia Inter-Bank Settlement System to enhance operational efficiency. It requires Namclear and all system participants to implement intra-day settlement cycles, ensuring retail payments are submitted by 16h40 on weekdays and 13h00 on Saturdays. The directive repeals the previous PSDIR-4 and establishes strict settlement windows for various transaction types to minimize systemic risk and prevent late-day liquidity shortages.
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