Intelligo Solutions

The banking and motor vehicle industry is required to be compliant with the National Credit Act (NCA). INTELLIGO Solutions facilitates a morning workshop with the IOB (Institute of Bankers) exam will be written in the afternoon. The student will receive a pre-workshop preparation manual on registration ahead of the workshop.

The National Credit Act The National Credit Act aims at ensuring that all consumers who make use of credit are treated fairly and are not discriminated against. This Act, which is currently being phased in, replaces the current acts governing credit, namely the Usury Act, the Exemption Notice to the Usury Act and the Credit Agreements Act. Banks operate under the Usury Act, micro financiers under the Exemption Notice to the Usury Act, and the Credit Agreements Act governs instalment sales.

1. Aims of the National Credit Act
The aim of the NCA is to:

  • Increase access to credit at reasonable rates by reputable credit providers.
  • Promote a fair, competitive and sustainable credit market.
  • Help consumers make informed decisions.
  • Create mechanisms to deal with debt.
  • Provide protection for consumers, securing
  • Redress and ensuring compliance.

2. The objectives of the National Credit Act
The objectives of the NCA are to:

  • Promote fair non-discriminatory market place
  • Improve standards of consumer credit industry
  • Prohibit unfair practices
  • Promote responsible credit granting
  • Regulate credit information
  • Provide for debt restructuring in a regulated Environment.