NBFIRA

About Us

The Non-Bank Financial Institutions Regulatory Authority Act 2006 established the Non-bank Financial Institutions Regulatory Authority (NBFIRA), after the endorsement (by Government) of the Carmichael Consulting Report, which recommended the setup of a single independent Non-Bank Financial Institutions (NBFI) regulator.

The Act grants NBFIRA the mandate to regulate and enforce compliance within the NBFI sector in order to safeguard the stability, fairness and efficiency of the non-bank financial sector. 

As outlined in section 4 of the NBFIRA ACT, the principal objective on NBFIRA is to regulate and supervise the non-bank financial institutions so as to foster the:

NBFIRA’s regulatory portfolio encompasses a wide variety of industries including Insurance, Pension, Capital Markets, Non-Bank Lenders, Collective Investment Undertakings (CIUs), Asset Managers, Investment Advisors, and Custodians (among others).

NBFIRA… Working Towards Financial Stability

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Integrity

Values

We will in all our dealings with stakeholders uphold the following values:

Transparency

We are open and frank in our operations

Fairness

We consistently promote equal treatment in dealings with all stakeholders

Accountability

We are responsible to our stakeholders

Diligence

We are thorough and persistent in the execution of our duties

Strategic Foundations

The NBFIRA Management established a shared understanding of the Vision, Mission and Values as the strategic foundations that give direction and define the business of the Authority.

Vision

To be an efficient and effective regulatory and supervisory Authority in line with international best practice.

Mission

To regulate and supervise non-bank financial institutions for the purpose of contributing towards financial stability. 

How can we help you?

Contact us at the NBFIRA Offices or submit an inquiry online.

Functions of NBFIRA

Regulation

Issuing of Rules, Directives and Guidelines etc.

Authorization

Gate keeping role; Licensing Criteria, Fit and Proper Criteria

Supervision

Safe and soundness, Conduct of Business

Surveillance

Monitoring Vulnerabilities and non-sustainability trends

Enforcement

Taking action against noncomplying entities

Resolution

Resolving Non- Viable entities in a manner that protects consumer interest

Consumer Education

To ensure consumer understanding

Advisory Services

Advisor to Government on issues relating to NBFIs

Organisational Structure

Our History

2006

Founded

The Non-Bank Financial Institutions Regulatory Authority Act 2006 established the Non-bank Financial Institutions Regulatory Authority (NBFIRA).

2008

Commencement

Commencement of Operations at NBFIRA.

2016

First Amendment

First changes to NBFIRA Act in the year 2016

2023

Second Amendment

Second changes to NBFIRA Act in the year 2023