Enhanced Debit Orders (EnDO)

The current debit order system will be replaced by an enhanced collection process, called EnDO, that will benefit both the submitter of debit orders (Creditor) as well as the consumer paying that debit order (Payer). Key features of the EnDO stream include the following: Debit orders are submitted using the new industry payment standard ISO20022.Continue reading “Enhanced Debit Orders (EnDO)”

Repo Rate Announcement

THE Bank of Namibia monetary committee which regulates the supply of money in the economy yesterday announced that the interest rate to be paid on loans would be reduced. The decision has brought down the benchmarking interest rate to 3,75% from 4% – the lowest interest rates have ever been. The effect is that theContinue reading “Repo Rate Announcement”