Bankers warn against foreign lotteries

by Staff Reporter

Windhoek

The Bankers Association of Namibia (BAN) has cautioned the public that it is illegal for any Namibian resident to participate in foreign lotteries. The warning comes after BAN noticed that Giant Lotto, a foreign lottery company, is advertising in the country.

“It has come to our attention that Giant Lotto, a foreign lottery, is advertising in Namibia.  Your attention is drawn to Exchange Control Ruling B21(F),” read a BAN statement. According to this ruling local residents may not participate in lotteries organised abroad.



“Accordingly, authorised dealers must decline requests to purchase foreign exchange for such purposes in all instances. Residents may not use their credit and/or debit cards in the Republic to facilitate payments for the above-mentioned purposes, and in addition all issuers of American Express, Diners Club, Mastercard and Visa cards, may not accept such debits against resident cardholder’s accounts in respect of the payment for foreign lottery tickets or gambling activities,” continued the BAN statement.

The Bank of Namibia has also requested authorised dealers to ensure strict compliance with the exchange control ruling.

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