About NDGA
The Namibia Deposit Guarantee Authority was established in terms of the Namibia Deposit Guarantee Act, (Act 16 of 2018). The main objective of the Authority is to establish and administer the Deposit Guarantee Scheme for the protection of depositors against the risk of loss of their deposits by:
- Guaranteeing certain classes of depositors, the repayment of depositors up to a maximum coverage;
- Maintaining and managing the Scheme;
- Administering the Deposit Guarantee Fund;
- Determining and collecting of premiums from member institutions;
- Assessing claims made against the Fund by depositors;
- Compensating depositors in the event of deposits becoming unavailable; and
- Keeping the public informed in respect of its role and responsibilities and the rights of depositors and procedures to be followed in the event of deposits at a member institution becoming unavailable.
IADI membership
The Namibia Deposit Guarantee Authority is a prod member of the International Association of Deposit Insurers(IADI). IADI is a global forum where deposit insurers as well as other financial safety net participants and international financial institutions work together to promote best practices in the areas of depositor protection, bank resolution and financial stability.
