v.  In 1984, the Banking and Financial Services Ordinance, 1984 amended seven laws and Banking Tribunals Ordinance, 1984 provided a new system of recovery of noninterest based modes of financing. vi. From January 1, 1981, separate interest-free counters started operations in all the nationalized commercial banks to mobilize deposits on profit and loss sharing basis.
As part of the provisions of the Regulations, credit providers in Namibia are now required to provide credit performance information to all registered credit bureaus. The purpose of this provision is to ensure that a complete picture of individual borrowers is obtained, to enable comprehensive affordability assessments to be done with a view to curb over indebtedness of customers.