The Macroprudential Oversight Committee (MOC)1 of the Bank of Namibia (the Bank) held its second meeting of the year on the 5th of December 2024, to assess potential risks and vulnerabilities in the financial system. Based on a thorough assessment of global and domestic macrofinancial developments, the Committee found the domestic financial system to be stable, sound, and resilient. Both the banking and non-banking financial institutions sectors maintained adequate capital and liquidity buffers to withstand potential losses. In addition, the payment infrastructure and operations remained efficient. Alongside existing microprudential measures, the MOC continues to make significant progress in strengthening the banking sector's resilience and addressing vulnerabilities in the property market through targeted macroprudential measures. Going forward, the recent accommodative monetary and fiscal policy measures, coupled with the existing regulatory initiatives are expected to further promote a sound financial sector. The MOC emphasised continuous monitoring of the identified global and domestic financial stability risks, which could adversely impact the soundness of the Namibian financial system.