President Netumbo Nandi-Ndaitwah has called on the Bank of Namibia and the Ministry of Finance to release regulations ensuring that fees and charges by commercial banks serve the public interest.

Clients of the First National Bank of Namibia (FNB) who receive cross-border electronic fund transfer (EFT) payments within the Common Monetary Area (CMA) will no longer be permitted to use domestic payment methods and channels.

These cross-border payment changes take effect next month.