21/03/2024
Bank of Namibia do you fully understand the impracticality of making each payment to South Africa a forex transaction. Do you grasp the extent of trade that happens daily and the number of transactions? There are a MULTITUTE of other ways that transactions can be verified by banks, other that having each transaction be a forex payment.
How will banks be able to keep up with volumes? Payments that were innediate or 1-day will now end up being 3 days.
What about traders making import VAT payments to SARS? Must their trucks now stand for 3+ days just because of this?
Who is going to carry the burden of EVEN GREATER bank charges????
FNB Namibia Standard Bank Namibia Bank Windhoek Nedbank Namibia
How are you going to ensure your cients businesses aren't severely affected?? Specifically your clients exporting to South Africa. You know very well they need to pay SARS a day before cargo arrives at the border (which is 1 day travel time). What are you going to do when trucks stand at the border for 3 days waiting for a "forex payment to clear".
