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Licensing
In effectively supervising commercial banks the Bank of Namibia starts
with the issuance of a provisional banking license to a bank. After all stringent
requirements set by the Bank have been satisfied, the Bank of Namibia then issues
a permanent banking license to the new bank.
When the bank is established it must report to the Bank of Namibia on a regular
basis through the submission of statutory information. The Bank of Namibia then
uses this data to assess the performance and financial condition of banking institutions
to obtain an early warning on any potential loss of the depositors’ money. In addition,
the Bank sends a team of examiners to visit commercial banks to check and inspect
records kept by them at least once a year or whenever the need arises.
Please find below the Banking licensing procedures:
Licensing
Procedures
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Repo Rate |
7.0000% |
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Prime Rate |
11.2500% |
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NCPI (01/2010) |
6.3% |
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N$/US Dollar |
7.35950 |
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N$/GBP |
11.19090 |
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N$/Euro |
10.13820 |
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Latest
Downloadable Documents |
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External Links
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