While Members of Parliament welcomed Namibia's removal from the Financial Action Task Force grey list, some lawmakers questioned whether international financial standards leave enough room for countries to determine their own priorities.
The concerns were raised during discussions following a ministerial statement by Finance Minister Ericah Shafudah on Namibia's successful exit from the grey list.
Affirmative Repositioning MP Job Amupanda welcomed the achievement but cautioned against becoming overly reliant on standards set by international institutions.
Professor Amupanda questioned whether the government is developing long-term measures to strengthen financial integrity based on national interests rather than solely responding to external requirements.
"We agree with financial integrity, Speaker, but the financial integrity must not be because some bully decided, because that bully can change tomorrow. We must agree with it because it is important for us.
The leader of the Official Opposition in the National Assembly, Immanuel Nashinge, said Namibia's removal from the grey list should be accompanied by lessons on how to strengthen oversight mechanisms and prevent future deficiencies.
"We have now entered a new chapter. What have we learned? What are the conversations our governments are having with us, Nigeria, and all those that were also grey listed moving forward? Are we still going to continue having this type of agenda being set from outside?"
IPC MP Michael Mwashindange also raised concerns over transparency, particularly regarding access to beneficial ownership information.
"As citizens of Namibia, including journalists, cannot access what we call 'beneficial ownership registers', yet somebody or a group of people in Europe has full access to a register that Namibians cannot have. I really want to understand the logic behind that."
PDM MP Inna Hengari used the opportunity to seek clarity on Namibia's commitment to the proposed African Credit Rating Agency, an initiative aimed at allowing African countries to assess their economies using continental standards.
"We wanted Africa to tell its own stories, but more importantly, we wanted to establish standards against which African economies could be measured. I really want to understand the government's commitment to that particular agenda."
Responding to the concerns, Finance Minister Erica Shafudah said Namibia's engagement with FATF should not be viewed as external coercion but rather as part of its obligations as a member of the international community.
"Namibia is part of the global village, and when global standards are set and you ascribe to them, you should prepare for them in good times and bad times. They are only reminding you of the commitment that you have already made. We are very keen to see the activation of the African Credit Rating Agency. In fact, all of us as Namibians would not want to have credit ratings done by others if we had one for the continent."
The minister also commended members of the seventh Parliament for passing fourteen pieces of legislation that helped address deficiencies identified during the FATF review process.