Regulatory Alerts2021-04-22
Added · Updated
Namibia Financial Institutions Supervisory Authority 2021
The Namibian Parliament enacted this legislation to continue and empower the Namibia Financial Institutions Supervisory Authority (NAMFISA) as the primary regulator for financial institutions and markets. The Act defines NAMFISA’s core objects, regulatory functions, and investigative powers while establishing a structured governance framework comprising an independent Board, chief executive officer, and advisory committees. It further mandates the creation of a dedicated Appeal Board to adjudicate disputes, outlines funding mechanisms through statutory levies and fees, and grants the Finance Minister authority to issue binding policy directions.
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