The Bank of Namibia’s Namibia Interbank Settlement System in 2021, for the first time since its inception in 2002, recorded a settlement value of N$ 1 trillion due to high volumes, a milestone, the Bank says, which celebrates Namibia’s secure, reliable, and modern payment system. Specifically, a statement issued by the Bank explains, the record can be ascribed to high volumes of the new domestic EFT system streams (through NAMPAY), the utilisation of lending facilities, specifically the 7 Day repo of the Bank, the purchase and resale of government securities, and inflows of funds to comply with Regulation 28 by the Namibia Financial Institutions Supervisory Authority.