Regulatory Alerts2023-11-08
Added · Updated
NAMFISA Risk-Based Supervision Methodology Framework
The Namibia Financial Institutions Supervisory Authority (NAMFISA) has issued a Risk-Based Supervision (RBS) Methodology Framework to transition financial institutions from static compliance-based oversight to a dynamic, forward-looking supervisory model. The framework mandates proactive risk assessment and mitigation, requiring industry stakeholders to apply RBS principles during interim off- and on-site inspections pending the Financial Institutions and Markets Act. Grounded in statutory powers, the framework empowers NAMFISA to establish publicly available supervisory policies that align with international standards while addressing domestic financial conditions.
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