Regulatory Alerts2020-06-25
Added · Updated
Critical Regulations and Standards for Immediate Implementation After the Act Comes into Force
The Namibian Financial Institutions Supervisory Authority (NAMFISA) has promulgated critical standards and regulations that immediately govern insurers, financial markets, collective investment schemes, retirement funds, friendly societies, and medical aid funds following the enactment of the parent Act. These provisions require registered entities to maintain capital adequacy, comply with detailed registration and financial reporting obligations, adhere to strict investment limits, and fulfill fiduciary and governance duties. The regulatory framework further empowers NAMFISA to grant exemptions, impose penalties for non-compliance, and enforce valuation standards to ensure continuous market stability and policyholder protection.