The Government Institutions Pension Fund (GIPF) also released a statement in which it said that Namfisa is responsible for administering the Financial Institutions and Markets Act, or FIMA. The pension funds general manager for marketing and stakeholder engagement, Edwin Tjiramba, said GIPF is waiting for feedback on NAMFISA's various stakeholder meetings on critical standards and regulations that are being proposed to operationalise FIMA. GIPF has further cautioned its members not to panic as the proposed regulations, including its standards, are still in the drafting stage, and has not yet been approved.