a ee CIRCULAR NO 5 CCB 06/2020 TO t ALL RELEVANT STAKEHOLDERS FROM f CHIEF EXECUTIVE OFFICER DATE se 08 JUNE 2020 SUBJECT : CONSULTATION ON CONSUMER CREDIT POLICY 1. The then Honourable Minister of Finance, Calle Schlettwein, on 22 February 2018, during the tabling of the Microlending Bill, 2018 announced that “over the medium- term, it is the policy intention to consolidate the provisions of the Usury Act and Microlending into a Consumer Credit Bill’. NAMFISA hereby wishes to pronounce on behalf of the Ministry of Finance that the work to this effect has already begun with a complete draft of the Consumer Credit Bill Policy. 2. A team led by NAMFISA and consisting of representatives from the Ministry of Finance, Bank of Namibia, Ministry of Industrialisation and Trade, as well as the Deutsche Gesellschaft fiir Internationale Zusammenarbeit (GIZ), worked on the draft Policy Paper. 3. In the spirit of transparency and disclosure on key policy matters, NAMFISA wishes to engage all affected key stakeholders, namely consumer protection lobby groups, government agencies and industry) (banking and non-banking financial sector) to solicit their valuable comments and inputs to the Policy Paper, before the Policy Paper is finalized. 264 61 290 5000, Fax: +264 61 290 5157, PO Box 21250, Windhoek, Namibia, 164 Independence Ave, Saniam Centre, www.namiisa.com.na4. The aim is to obtain relevant input from all affected key stakeholders on the substantive content of the Policy Paper that would ultimately aid the drafting of the Consumer Credit Bill. 5. In this regard, | hereby enclose the draft Policy Paper for your consideration and comments. 6. While individual inputs are accepted, we urge and encourage members or individuals to submit their comments via their respective bodies or associations. 7. Kindly address your responses, in the format of the enclosed “Comments Template” on or before 31 July 2020 directly to Ms. Anesia Cloete at acloete@namfisa.com.na copying Mr. = Abiatar. = Andreas aandreas@namfisa.com.na. Should you have any queries, you may contact Ms. Cloete at (061) 290 5276 or Ms. Christofina Shindume at (061) 290 5266. Yours sincerely, KE NE Kenneth S. Matomola