Regulatory Alerts1999-01-15
Added · Updated
Determinations on the Disclosure of Bank Charges, Fees and Commissions
Banking institutions must display maximum bank charges for services listed in Annexure A on conspicuous display boards in branches dealing with retail customers. Institutions are required to submit proposed disclosure documents to the Bank of Namibia for approval by 31 March 1999 and to submit annual copies by 21 January each year, notifying the Bank within two weeks of any interim changes to fee structures. Additionally, every banking institution must establish internal procedures for handling customer complaints regarding these charges.
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