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Namibia's financial system remains healthy: report

Xinhua, April 28, 2017 Adjust font size:

Namibia's financial system remains healthy, sound and well-capitalized, according to a report released in Windhoek on Friday by Namibia's central bank, Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory (NAMFISA).

BoN and NAMFISA said the annual Financial Stability Report (FSR) assesses the stability and resilience of the Namibian financial sector to internal and external shocks.

The report highlights specific risks stemming from the macroeconomic environment, domestic household and corporate debt, the banking sector, the non-banking sector and payment and settlements systems.

The overall assessment concluded that the financial sector is robust and resilient to shocks, but continuous monitoring of the risks to financial stability from the domestic, regional and global environments is needed as a prudential measure, according to the report.

Meanwhile, the report said that from a risk profile point of view since the last FSR, most risks have either subsided or remained unchanged, with minimal corresponding impact on the stability of the financial system. Endit