Regulatory Alerts2021-11-11
Added · Updated
FS.S.6.13 – The Percentage of the Fair Value of Property
The Namibia Financial Institutions Supervisory Authority issued Standard FS.S.6.13 under the Financial Institutions and Markets Act, 2021 to regulate lending practices for registered Friendly Societies. This standard mandates that loans secured by first mortgages on immovable property must not exceed 75 percent of the property's fair value. The regulation applies universally to all registered Friendly Societies, establishing a clear quantitative cap on secured lending.
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