Bank of Namibia

Namibia Interbank Settlement System (NISS)


Find out more about Namibia Interbank Settlement System (NISS).

Namibia Inter-bank Settlement System (NISS)

The NISS, a real time gross settlement (RTGS) system, was established in June 2002, and it is owned and operated by the Bank of Namibia. The NISS facilitates the settlement of interbank domestic single high-value payment transactions (gross) and low value retail (bulk) payment transactions. The NISS settles time critical interbank payment transactions under the principle of finality and irrevocability. Transactions settled in the NISS can therefore not be unwound after having been settled across the books of the participants in the NISS. In addition, the NISS is connected to an interbank card switch (NAMSWITCH) and the interbank electronic funds transfer (EFT) system (NamPay), both operated by Namclear.

Financial Market Infrastructure Self- Assessment

The NISS was designated as a financial market infrastructure in January 2018. The NISS is therefore subject to high risk management standards in line with international best practices such as the Principles for Financial Market Infrastructures (PFMI). The Bank of Namibia conducted the first self-assessment on the NISS against the PFMI in December 2018. 

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