Outdated legislation hinders financial sector innovation- NAMFISA CEO

Outdated legislation hinders financial sector innovation- NAMFISA CEO

Outdated legislation hinders financial sector innovation- NAMFISA CEO

Hertta- Maria Amutenja Chief Executive Officer of Namibia Financial Institutions Supervisory Authority (NAMFISA), Kenneth Matomola, has highlighted that the outdated legislation is hindering financial sector innovation.  This assertion stems from the Parliamentary Standing Committee on Economics and Public Administration’s report on the stakeholder's consultative and oversight workshop on the Financial Institution and Markets Act (FIMA) held last year. The report sheds light on the regulatory challenges facing the non-banking financial institution (NBFI) sector. According to the report, various stakeholders in the financial sector raised concerns, urging a reconsideration of certain clauses within the legislation.   “NAMFISA therefore indicated that the current…
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