The Bank of Namibia has given Access Bank Namibia provisional authorisation to conduct banking business.
In a statement issued by the central bank on Friday, the authorisation is given for 6 months to allow Access Bank to meet all requirements before starting banking operations in the country.
According to the spokesperson of the central bank, Kazembire Zemburuka, during the six months, Access Bank is not allowed to conduct banking business with any individual or entity in Namibia.
“The banking institution is prohibited from soliciting deposits or engaging in other banking activities until it receives its final certificate of authorisation,” says Zemburuka.
He says if Access Bank Namibia successfully meets these requirements within the six-month timeframe, or earlier, the Bank of Namibia may issue a certificate of authorisation.
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