Pooling ideas
POOLING IDEAS: The Bank of Namibia held a stakeholder engagement meeting last week with justice minister Yvonne Dausab. The purpose of the meeting was to find ways to expedite Namibia’s current response to the Financial Action Task Force’s (FATF) mutual evaluation exercise. The exercise is aimed at closing all legislative and enforcement loopholes in the Anti-Money Laundering and Combating Terrorism Financing and Proliferation Framework (AML/CFT/CPF) in order to maintain financial system integrity. The meeting also addressed concerns regarding the increasing number of home repossessions, which have adversely affected households across the country since the outbreak of Covid-19. Collaboration with various key stakeholders is required to tackle the matter, with reforms underway to balance the interests of defaulting homeowners and creditors. PHOTO: Bank of Namibia
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Namibian Sun
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