YouTube Channel Statistics Bank of Namibia

Functions of BoN The objective of the central bank of Namibia, according the Namibian Constitution, is to “serve as the State’s principle instrument to control the money supply, the currency and the ... See more institutions of finance, and to perform all other functions ordinarily performed by a central bank”. The Bank of Namibia Act No. 15 of 1997 further elaborates on this by laying down the following objectives: -To promote and maintain a sound monetary, credit and financial system, in Namibia and sustain the liquidity, solvency and functioning of that system. -To promote and maintain internal and external monetary stability and efficient payment mechanism; -To foster monetary, credit and financial conditions conducive to the orderly, balanced and sustained economic development of Namibia; -To serve as the Governments’ banker, financial advisor and fiscal agent; and -To assist in the attainment of national economic goals.