19 th June, 2019 Press Release Commencement of the Insurance Industry Act 2015 and Regulations Insurance Industry Act (2015) and Regulations now effective. Greater alignment of legal framework with the Authority’s Risk Based Supervisory regime. Enhanced policyholder protection. Increased...
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Transitional Arrangements Insurance Industry Act, 2015 This information letter sets out the transitional arrangements for the Insurance Industry Act, 2015 and its Regulations. Summary of Transitional Arrangements The link below entails a table that provides a summary of the transitional...
June 10 th , 2019 NBFIRA 3/3/4-III (37) To: All Anti-Money Laundering /Counter Terrorism Financing Compliance Officers (AMLCOs) - Non-Bank Financial Institutions (“NBFIs”) INSTITUTION SPECIFIC RISK ASSESSMENT DIRECTIVE We refer to the captioned subject matter. Pursuant to section 9 (f) of the...
As part of its stakeholder engagement, the Authority conducted a workshop for the insurance industry players on the 8 th of May 2019, to present new changes emanating from the recently signed Insurance Industry Regulations for the Insurance Industry Act of 2015. In her opening remarks, Mrs...
NON-BANK FINANCIAL INSTITUTIONS REGULATORY AUTHORITY The Non-Bank Financial Institutions Regulatory Authority Act 2006 (amended in 2016) established the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), to regulate and enforce compliance within the Non-Bank Financial Institutions...
Addressing guests at the Botswana Institute of Chartered Accountants (BICA) Annual Dinner Dance in Gaborone, Chief Executive Officer of NBFIRA Mr. Oaitse M. Ramasedi lauded the accounting profession for its critical contribution to economic development and governance, as well as in fighting...
NBFIRA has issued the Prudential Rules for Systemically Important Micro-Lenders (2019) to regulate the establishment, operations and business conduct of such Micro-Lenders. A “Systemically Important Micro Lender” is a Micro-Lender who meets at least two of the following thresholds: a. Annual...
Non-Bank Financial Institutions Regulatory Authority (NBFIRA) invites suitably qualified individuals to apply for the following vacancy: Deputy Chief Executive Officer - Regulatory Reports to: Chief Executive Officer Main Purpose of the Job To oversee the regulation and supervision of the non-bank...
The Non-Bank Financial Institutions Regulatory Authority ( NBFIRA ) wishes to invite suitably qualified Information Technology companies to submit proposals for the below listed tender: TENDER NO: NBFIRA 001/2020 Provision of Support Services for Oracle E-Business Suite and Oracle Technologies for...
PUBLIC NOTICE The Non-Bank Financial Institutions Regulatory Authority (“NBFIRA”) would like to inform members of the public that it has taken the decision to cancel Coversure Insurance Brokers (Pty) Ltd’s (“Coversure”) licence. Please note that the effect of the cancellation is that Coversure is...
