Today's National Council session primarily focused on payment system management, trust administration, access to housing finance, and banking regulations, emphasising the urgency of addressing these issues as they directly impact the well-being of Namibians.

Of particular importance during the deliberations was the recognition of the challenges posed by urban and rural migration.

To tackle this issue effectively, MPs stressed the need for banking institutions to play a pivotal role in supporting the acquisition of land and housing in settlements and rural areas.

The lawmakers proposed various measures aimed at encouraging sustainable growth and development across different regions of Namibia.

They called for financing options that would enable easier access to land and housing while simultaneously reducing barriers such as high bank charges and exorbitant cash loan fees.

A crucial Bill currently under consideration is the Payment System Management Bill.

If enacted, this legislation would establish robust guidelines and regulations for the efficient and secure processing of payments within the country.

By implementing these measures, parliamentarians hope to enhance Namibia's overall payment infrastructure, promote seamless transactions, and facilitate financial inclusion for all citizens.

In addition to payment system management, trust administration was also at the forefront of discussions.

The Bill aims to enhance the governance and administration of trusts.

The proposed Bill seeks to ensure transparency and accountability in the management of assets held for the benefit of designated beneficiaries.