Regulatory Alerts2021-11-10
Added · Updated
FS.R.6.1 – Income Threshold for Chapter 6 Exemption of Friendly Societies
The Minister of Finance has established a N$200,000 annual income threshold that exempts friendly societies from Chapter 6 of the Financial Institutions and Markets Act, 2021. This limit is adjusted each January by the higher of five percent or the annual inflation rate calculated via the Namibian Consumer Price Index. Exempt societies remain subject to compliance with applicable regulatory directives issued by the financial sector authority.
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