Regulatory Alerts2026-05-08
Added · Updated
Namibia Financial Institutions Supervisory Authority Act 3 of 2021
Enacted by the Parliament of Namibia and assented to by the President, this legislation continues the Namibia Financial Institutions Supervisory Authority (NAMFISA) as an independent juristic person responsible for regulating and supervising financial institutions, intermediaries, and markets. The Act mandates NAMFISA to monitor systemic risks, enforce compliance with financial services laws, conduct investigations with summons and inquiry powers, and fund its operations through levies and fees while balancing regulatory costs with market efficiency. It establishes a governing Board and chief executive officer to oversee daily operations, outlines their appointment and accountability mechanisms, and creates an independent Appeal Board to adjudicate disputes arising from the Authority’s decisions.