Submission of Quarterly Reports to the Officer of the Registrar

ENQUIRIES: C.E. SWART

TO: PRINCIPAL OFFICERS OF FRIENDLY SOCIETIES

CIRCULAR: PI/FS/2/27/8/2013

DATE: 27 AUGUST 2013

SUBMISSION OF QUARTERLY REPORTS TO THE OFFICER OF THE REGISTRAR

In order to effectively assess the impact of the Friendly Societies Industry as a whole and enhance the regulatory function of NAMFISA, it is of vital importance that all important information is disclosed to the Authority.

As such, NAMFISA has embarked on the process of obtaining quarterly financial data from the Friendly Societies regulated by the Authority to identify any shortcomings in the Friendly Societies Industry.

In light of the above mentioned, the Registrar of Friendly Societies requires that all registered Friendly Societies disclose the following information on a quarterly basis in the format provided by the Authority;

• Financial information; i.e. Income statement, balance sheet
• Number of lives covered under the Society
• Benefits paid in respect of claims submitted by members of the Society
• Investments of the Society

The submission deadlines for the quarterly returns are:

Quarter Period ended Deadline for submission

	Quarter Begins	Quarter Ends	Submission Date of Return
Quarter 1	January	March	2 May of each year or next business day following
Quarter 2	April	June	1 August of each year or next business day following
Quarter 3	July	September	1 November of each year or next business day following
Quarter 4	October	December	1 February of each year or next business day following

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

With effect 1 November 2013, all registered Friendly Societies are requested to submit the quarterly reports to the Registrar.

All registered Friendly Societies are further directed to submit the quarter 1 to quarter 3 2013 quarterly reports by the 1st of November 2013. Failure to submit the requested information may lead to penalties being charged to the respective Society’s.

Should you have any further queries regarding the above mentioned matter, please do not hesitate to contact Mr. Christopher Swart at telephone number (061) 290 5212 or via e-mail at cswart@namfisa.com.na

Yours sincerely,

Phillip N. Shiimi
Registrar: Friendly Societies