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Microlending Act, 2018 (No. 7 of 2018).

Pays/Territoire
Namibie
Type du document
Législation
Date
2018
Source
FAO, FAOLEX
Source d'origine
Published in Government Gazette no. 6664 on 31 July 2018.
Titre complet
An Act to regulate the carrying on of microlending business in Namibia; to establish an effective and consistent enforcement framework relating to microlending; to promote responsible borrowing and lending; and to provide for incidental matters.
Sujet
Général
Mot clé
Financement Crédit Petits exploitants/paysans
Aire géographique
Afrique, Atlantique Sud, Afrique Méridionale
Résumé

This Act provides rules for the bussines of microlending, i.e. the business of advancing loans to borrowers in terms of microlending transactions (defined) as a regular feature. The objects of this Act are to - (a) foster - (i) the highest standards of business conduct by microlenders; (ii) fairness, efficiency, transparency and orderliness of the microlending industry; (iii) the protection of borrowers and the promotion of responsible borrowing and lending; (iv) the promotion of public awareness and understanding of the microlending industry; and (v) the reduction and deterrence of financial crime; (b) regulate and supervise the microlenders as provided for in this Act; and (c) ensure that microlenders comply with the relevant provisions of the Usury Act. A person needs to be registered with the Namibia Financial Institutions Supervisory Authority (NAMFISA) in order to legally conduct the business of a microlender. The Act provides rules for the conduct of business and defines rights and obligations of borrowers. It also provides for supervision by NAMFISA.

Texte intégral
Anglais
Site web
www.lac.org.na