Bank of Namibia

Banking license application and other Procedures

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The Banking Institutions Act, 1998 (Act No. 2 of 1998, as amended) contains provisions which require procedures to be established in relation to certain banking operations as listed below and further reflected at the link hereunder.
  • Application for Authorisation to Establish a Banking Institution
  • Application for Permission to Acquire Shares in a Banking Institution
  • Application for Approval of Appointment of Auditors
  • Notification of a Change in Shareholding in Banking Institutions
  • Application for Permission to Establish a Representative Office in Namibia
  • Application for Permission to Enter into a Merger, Acquisition or Consolidation & Transfer of Banking Institution’s Assets and Liabilities.
Click here to download Bank License Application and Notification Procedures  | 338 kB


Below is a shortened procedure for prospective applicants who wish to seek for authorisation to commence banking business in Namibia. Such an application for authorization to establish a banking institution shall be submitted, in duplicate and on Form BIF 020 to the Bank of Namibia and should be accompanied by such further supporting documents as the Bank may require.


Click here to download Abridged Banking License Procedures  | 110 kB
Today’s rates
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NCPI

CONSUMER PRICES Total (All urban areas) 12-Term % change

NCPI 6.70 Apr 2017
Interest rates
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Repo rate

Repurchase rate: Rate at which the private (sector) banks borrow namibian dollars from the Bank of Namibia

Prime overdraft rate (predominant rate)

Benchmark rate at which private banks lend out to the public.

Repo 7.00
Prime 10.75
Exchange rates
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NAD per US Dollar

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per British Pound

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per Euro

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per Angolan Kwanza

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

N$ / $ 13.0752 24 May 2017
N$ / £ 16.9628 24 May 2017
N$ / € 14.6176 24 May 2017
N$ / AOA 0.0717 24 May 2017

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