The Bank of Namibia acts as an agent for the Government for the issue and redemption of IRS and maintains an electronic register that records details of each stockholder, and the amount of stock held by each holder.
International Registered Stock (IRS) is capital market instruments issued for longer maturities i.e., for a period exceeding 12 months and holders may earn half-yearly interest (coupon).
Allotments are made in an ascending order of yields with lowest yields receiving a priority.
Interested parties can opt to buy and/or sell bonds in issue on the NSX through qualified and registered stockbrokers.
The holder may like Treasury Bills, the holder may transfer IRS to any other person upon completion of a relevant transfer form issued by the Bank.
Interest is payable on maturity.
IRS are listed on the Namibian Stock Exchange (NSX) where secondary trading can take place.
Investments are dependent on availability of Stock.