Regulatory Alerts2021-11-11
Added · Updated
FS.S.6.17 – Registration Requirements for Friendly Societies
The Namibia Financial Institutions Supervisory Authority (NAMFISA) issued Standard FS.S.6.17 to establish the mandatory application process for registering friendly societies under the Financial Institutions and Markets Act, 2021. Applicants must submit a completed application form alongside certified society rules, a valuator’s financial soundness certificate, proof of fee payment, and documentation verifying the fit and proper status of trustees and principal officers. The standard further mandates that boards and interim boards sign the application, attach required supporting documents such as curricula vitae and police clearances, and notify NAMFISA of any material changes within thirty days.
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