Regulatory Alerts2021-11-10
Added · Updated
Pre S.1.1 Definition of Valuator
The Namibia Financial Institutions Supervisory Authority (NAMFISA) issued Preliminary Standard PRE.S.1.1 to define the professional categories and eligibility criteria for individuals appointed as valuators under the Financial Institutions and Markets Act, 2021. The standard requires all appointed valuators to be fit and proper, possess specific training in Namibian financial institutions, and hold at least five years of relevant experience. It designates fellows of recognized actuarial societies, members in good standing under the Public Accountants’ and Auditors’ Act, and other approved professional bodies as eligible candidates, while granting NAMFISA the discretion to maintain an approved list and directly appoint actuaries for specific business segments.