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Bank of Namibia

Banking Supervision

Summary

Find out more about Banking Supervision.

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Banking Supervision

The Banking Supervision Department provides regulatory and supervisory oversight to banking institutions, building societies and credit bureaus, resolves banking institution customer complaints, and protects the interests of depositors who place their savings with banking institutions. These functions are essential for the development and promotion of an inclusive and stable banking system.

The Department contributes to three of the four Bank of Namibia pillars: the pillar of purpose (to safeguard financial stability), the pillar of stakeholder engagement (financial regulation and consumer protection), and the pillar of future-fit organisational efficiency and effectiveness (digital transformation and the delivery of responsive and innovative solutions).

The Department comprises the Off-site Analysis Division, the On-site Examinations Division, and the Policy and Regulations Division.

The specific responsibilities of the Department are to:
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Deter illegal financial schemes.

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Supervise and regulate deposit-taking institutions and credit bureaus.

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Promote financial sector development (handling customer complaints).

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License banks, branches of foreign banks, building societies, and credit bureaus.

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Provide a mechanism for ongoing off-site surveillance of the banking system and credit bureaus.

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Monitor compliance with banking legislation, determinations, directives, circulars, and prudential requirements.

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Formulate regulatory responses to identified weaknesses in individual banking institutions.

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Develop appropriate banking legislation and formulate prudential banking risk management requirements for the banking sector.

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Conduct on-site examinations (inspections) of banking institutions to assess their risk profiles and adequacy of capital to cushion risks.

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Conduct ad-hoc investigation of suspected violations of the Banking Institutions Act.

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Investigate any banking business conducted without the Bank of Namibia’s authorisation.

 Supervisory Approach of The Bank

The Bank of Namibia has adopted a risk-based supervision (RBS) approach. The approach places emphasis on understanding and assessing the adequacy of each banking institution’s risk management systems. These systems are in place to identify, measure, monitor, and control risks in an appropriate and timely manner. Existing and potential risks to banks are continuously assessed through on-site examinations and off-site analysis techniques. Where necessary, appropriate supervisory plans are designed and executed. The approach encourages continuous interaction between the regulator and management of banking institutions.

Find out more about the supervisory approach of the bank...

 Departmental Management
Mr Imanuel Hawanga

Deputy Director: Off-site Analysis Division

Ms Karin Elago

Deputy Director: On-site Examinations Division

Mr Elifas Kamati

Deputy Director: Policy and Regulations Division

 Contacts

For general Banking Supervision Department enquiries, contact the Director’s Office at:

     Tel: +264 61 283 5041
     Fax: +264 61 283 5228
     Senior Administration Assistant
Mr R. Nel - Director: Banking Supervision - Bank of Namibia
Ms A. Plaatje

Director: Banking Supervision

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