Regulatory Alerts2025-05-27
NBFIRA May 2025 e-Newsletter on Financial Stability and Consumer Protection
The Non-Bank Financial Institutions Regulatory Authority of Botswana issued its May 2025 e-Newsletter to reinforce consumer protection mandates across licensed non-bank financial institutions. Regulated entities must ensure loan agreements are clearly explained in plain language, provide borrowers with a fee-free 48-hour cooling-off period for termination, and terminate business relationships where Know Your Customer verification fails. Additionally, the authority mandates transparent disclosure of pension fund membership types and death benefit criteria while requiring retail investors to verify entity licensing, understand prospectus costs, and comprehend redemption terms before committing funds.
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