Regulatory Alerts2022-04-19
Added · Updated
NAMFISA Draft Proposed Standards Under the Financial Institutions and Markets Act, 2021
The Namibia Financial Institutions Supervisory Authority (NAMFISA) published draft proposed standards under the Financial Institutions and Markets Act, 2021 to establish governance, capital adequacy, liquidity, and conduct requirements for insurers, reinsurers, brokers, and investment managers. These standards mandate specific board composition rules, independence criteria, tenure limits, and a minimum capital threshold of N$250,000 alongside robust conflict-of-interest management protocols. Financial institutions and industry associations may submit written representations within sixty days to shape the final issuance of these regulatory measures.
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