Regulatory Alerts2026-07-13
Added
Regulations relating to Insurance, Financial Markets, Retirement Fund, Friendly Societies, Medical Aid Funds and Related Matters
The Minister of Finance determines that the Financial Institutions and Markets Act, 2021, and the Namibia Financial Institutions Supervisory Authority Act, 2021, come into operation on 1 May 2026, with specific exceptions for certain definitions and references. The Minister also makes regulations under section 465 of the Financial Institutions and Markets Act, 2021, setting out rules for insurance, financial markets, retirement funds, friendly societies, and medical aid funds. These regulations define micro-insurance products, set maximum benefit thresholds, and establish requirements for micro-insurance intermediaries and new product submissions. They also define terms for short-term and long-term insurance, set maximum protection amounts for life policies at N$200,000, and regulate financial market instruments and retirement fund distributions.