Namibia

Namibia

Adopts Banking Institutions Amendment Act

01 Nov 2010

In November 2010 Namibia amended its Banking Institutions Act of 1998 to, inter alia, regulate investment by "controlling companies" and the restructuring within groups of companies. It also authorises foreign banking institutions to open branches in Namibia, while prohibiting banking institutions from converting to branches of foreign banking institutions.

  • Type:
    • Entry and establishment (Ownership and control)
  • Industry:
    • Services (Financial and insurance activities)
  • Sources:
    • Official Gazette, No. 4598, Banking Institutions Act, 01 Nov 2010