Regulatory Alerts2024-04-11
Amendment of PSD-9 and Directive PSDIR-9
The Bank of Namibia issued General Notices 155 and 156 to amend the Determination on Electronic Funds Transfer Transactions (PSD-9) and introduce a new Directive on Cross-border Common Monetary Area Low Value Transactions (PSDIR-9). These regulatory instruments require financial institutions to implement necessary infrastructural changes and adhere to specific speed and fee standards for cross-border transactions. Both the amended Determination and the new Directive are scheduled to become effective on 30 September 2024.
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