The Bank of Namibia has had the privilege to play a key role in the formulation of the Financial Sector Strategy, whose overarching objective is to elevate the role of the financial sector in the economy. Financial education is an important part of the financial sector development Strategy and the Financial Sector Charter adopted by the industry way back in 2009.
To maintain that trust, we must be willing to make improvements when the evidence justifies it—to undertake rigorous analysis, before and after issuing new standards, and to follow that analysis where it leads. Many post-crisis policies, including those aimed at the implicit subsidy for “too-big-to-fail” institutions, have been in place long enough to allow for evaluation.