The FSC has signed a Memorandum of Understanding (‘MOU’) with NBFIRA for cooperation, consultation and exchange of information on 19 April 2012.  The objective of this attachment programme is to reinforce the FSC’s commitment to ensure effective cross border cooperation, information sharing and capacity building with NBFIRA within the spirit of the MOU signed.

Discussions encompassed the overview of financial services sector and FSC’s objectives, the insurance sector in Mauritius, as well as licensing, supervisory approaches and enforcement policies.  As part of the information exchange mechanism, the delegates made a presentation on ‘Overview of Insurance Sector in Botswana’ to some FSC staff.  Officers of NBFIRA attended the Joint FSC/ATMC Talk on UN Targeted Financial Solutions on 27 February.

The NBFIRA, established in 2008, is the regulator of all non-banking financial entities registered in Botswana including Pension Funds, Asset Management, Consumer/Micro lending, insurance and Collective Investment Undertakings.