Regulatory Alerts2026-07-08
Added
Financial Institutions and Markets Act, 2021 (Act No. 2 of 2021)
The Financial Institutions and Markets Act, 2021 consolidates and harmonizes laws regulating financial institutions, intermediaries, and markets in Namibia. It establishes comprehensive regulatory frameworks for insurance, financial markets, collective investment schemes, retirement funds, friendly societies, medical aid funds, and fund administrators, mandating registration with NAMFISA and defining specific conduct, administration, and governance requirements for each entity type. The Act grants the Namibia Financial Institutions Supervisory Authority (NAMFISA) extensive powers to supervise, inspect, investigate, and enforce compliance through administrative sanctions and court orders, while also creating a Financial Services Compensation Scheme.