Submission of Quarterly and Annual Financial Information by Means of the Electronic Regulatory System

Enquiries: Manager - Medical Aid Funds 29 September 2014

Principal Officers of all registered Medical Aid Funds Namibia Association of Medical Aid Funds (NAMAF) Administrators of Medical Aid Funds

Directive No.: PI/MA/5/29/9/2014

Effective date: 01 November 2014

SUBMISSION OF QUARTERLY AND ANNUAL FINANCIAL INFORMATION BY MEANS OF THE ELECTRONIC REGULATORY SYSTEM

1. BACKGROUND

This directive is issued by virtue of NAMFISA’s functions and powers, and those of its Chief Executive Officer in his capacity as the Registrar of Medical Aid Funds, in terms of the Namibia Financial Institutions Supervisory Authority Act No. 3 of 2001 and is applicable to all registered Medical Aid Funds registered in accordance with section 23 of the Medical Aid Funds Act, 1995 (Act No. 23 of 1995).

This directive serves as a formalization of the notice issued on the 4th of September 2014 whereby the department of Medical Aid Funds within the Authority informed the Medical Aid Funds industry that it has revised the statistical returns on the NAMFISA electronic regulatory system (herein referred to as “ERS”).

2. PURPOSE OF THE DIRECTIVE

With reference to Circular 1/2002, dated 3 April 2002, this directive serves to inform the medical aid fund industry of the effective date of the submission of final data in the new quarterly return format and to direct the said industry with respect to the manner of submitting annual returns henceforth.

Tel: +264 61 290 5000, Fax: +264 61 290 5157, PO Box 21250, Windhoek, Namibia, 154 Independence Ave, Sanlam Centre, www.namfisa.com.na

THE DIRECTIVE

All medical aid funds are hereby directed to submit to the Authority the financial data in the new quarterly return format with effect from 1 November 2014.

Furthermore, all Medical Aid Funds are hereby directed to submit to the Authority its annual returns in the prescribed format on ERS online. The commencement date for the submission of the annual return will take effect on 31 December 2014.

Should you have any further queries regarding the abovementioned matter, please do not hesitate to contact the manager of the Medical Aid Funds department at telephone number (061) 290 5167.

Yours sincerely,

Phillip N. Shiimi
Registrar: Medical Aid Funds

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