Regulatory Alerts2024-11-26
PSD-13 Determination on the Designation of Systemically Important Systems and Authorisation of Financial Market Infrastructures in Namibia
The Bank of Namibia issued PSD-13 under the Payment System Management Act, 2023, to establish the criteria and processes for designating systemically important systems and authorizing financial market infrastructures. The regulation mandates that designated entities comply with international standards, maintain high operational reliability, and submit to enhanced oversight including risk management frameworks and regular self-assessments. These measures aim to mitigate systemic risk and ensure the stability of Namibia's national payment system, with non-compliance subject to administrative penalties.
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