The Botswana Non-Bank Financial Institutions Regulatory Authority (NBFIRA) issued a circular directing all non-bank financial institutions to immediately adopt and implement a revised Personal Questionnaire for Controllers/Key Persons. The revised questionnaire includes a Data Privacy Notice aligned with the Data Protection Act, 2024, and must be used without exception for all applicants undergoing vetting as controllers. NBFIRA grounded the directive in its power under Section 5(2)(e) of the Non-Bank Financial Institutions Regulatory Authority Act of 2023 to issue directions to ensure compliance with applicable laws, rules, standards, or guidelines. The updated questionnaire is attached to the circular and has been uploaded to NBFIRA’s website, with institutions required to ensure full compliance with immediate effect.
Botswana Non-Bank Financial Institutions Regulatory Authority 2026-02-18
Botswana Non-Bank Financial Institutions Regulatory Authority mandates immediate use of revised controller personal questionnaire with data privacy notice
The Botswana Non-Bank Financial Institutions Regulatory Authority (NBFIRA) mandates all non-bank financial institutions to adopt a revised Personal Questionnaire for Controllers/Key Persons, including a Data Privacy Notice per the Data Protection Act, 2024. This directive, based on NBFIRA's authority under Section 5(2)(e) of the Non-Bank Financial Institutions Regulatory Authority Act of 2023, requires immediate compliance. The updated questionnaire is available on NBFIRA’s website.