The Bank of Namibia announced the successful migration of the Namibia Interbank Settlement System (NISS) to the ISO 20022 global payment messaging standard, effective 12 May 2025. NISS is Namibia’s real-time gross settlement (RTGS) system for settling individual interbank payments and retail interbank payments. The central bank highlighted NISS’s systemic role and the importance of operating it in line with international standards and best practices. Between April 2024 and April 2025, NISS processed more than 97,074 transactions with a total value exceeding NAD 1.2 trillion, and ISO 20022 was described as an internationally recognised payment messaging standard being adopted globally.
Bank of Namibia 2025-05-16
Bank of Namibia completes migration of the Namibia Interbank Settlement System to ISO 20022 payment messaging standards
The Bank of Namibia successfully migrated the Namibia Interbank Settlement System (NISS) to the ISO 20022 global payment messaging standard on 12 May 2025. NISS, the country's real-time gross settlement system, processed over 97,074 transactions valued at more than NAD 1.2 trillion between April 2024 and April 2025. The central bank emphasized NISS's systemic role and alignment with international standards.