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Bank of Namibia

Summary

Find out more about Migration of NISS to ISO 20022.

Migration of NISS to ISO 20022
16 May 2025 | Media Release
 

BANK OF NAMIBIA ANNOUNCES SUCCESSFUL MIGRATION OF THE NAMIBIA INTERBRANK SETTLEMENT SYSTEM (NISS) TO ISO 20022 GLOBAL PAYMENT MESSAGING STANDARDS
 

1. The Bank of Namibia is pleased to announce the successful migration of the NISS to the ISO 20022 Global Payment Messaging Standard, effective 12 May 2025. The NISS, Namibia’s real-time gross settlement (RTGS) system, plays a critical role in the settlement of individual interbank payments and retail interbank payments within the country.

2. From April 2024 to April 2025, the NISS facilitated over 97,074 transactions, with a total value surpassing N$1.2 trillion. As a systemic financial market infrastructure required to support financial stability, it is important that the NISS is managed and operated in accordance with international standards and best practices. ISO 20022 is an internationally recognised standard for financial payment messaging, currently being adopted worldwide by financial institutions.

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