The Chairperson of the National Council, Lukas Sinimbo Muha, has stressed the need for legislation to be reviewed to reflect the shifting nature of the local and international financial markets.
  
He further said the country should move quickly to comply with and overcome the politics of the global monetary system.

Muha addressed the official opening of a legislative workshop for members of the Sixth National Council on financial and associated issues.

He says interdependency has advantages and disadvantages.

For instance, businesses and individuals in one country can buy, sell, or exchange currency in another country at the click of a button.

He highlighted the importance of living in the globalisation era, which is so interdependent on almost all aspects of life.

This, he says, is a signal that global financial markets are more integrated than they have ever been.

It is worth noting, he says, that interdependency and integration carry risks for individuals, businesses, investors, and states.

"Therefore, even if this process of information and skill enhancement is very challenging, it is also rewarding when the acquired information is applied during our law-making process. You will agree with me, Hon. Members, that this workshop is very important because it will sharpen the capacity and ability to execute our responsibility of reviewing the proposed amendments and the new bills."

Speaking on the same occasion were the Directors of the Financial Intelligence Centre, Zenobia Barry, and the National Payment System at the Bank of Namibia, Barbara Dreyer.

The purpose of this workshop is to equip the MPs with knowledge and understanding of the financial and related bills that will enhance the efficient consideration of these legislative proposals during the special session of the National Council scheduled for Monday next week.

The workshop is co-hosted by the National Council, the Ministry of Finance, and the Bank of Namibia.