Regulatory Alerts2026-05-08
Added · Updated
Standards Under the Financial Institutions and Markets Act 2021 for Medical Aid Funds
The Namibia Financial Institutions Supervisory Authority (NAMFISA) has issued binding standards under the Financial Institutions and Markets Act 2021 to regulate the operational rules and financial soundness of all registered medical aid funds. These standards mandate that fund constitutions comprehensively address membership eligibility, benefit structures, waiting periods, board governance, and member information rights while adhering to strict formatting and certification requirements. Furthermore, funds must demonstrate financial viability through independent valuator reports that assess risks, contribution adequacy, asset-liability projections, and regulatory capital, with full compliance required within twelve months of publication.