Nama closes after 16 years as property agency completes its work

Nama chief executive Brendan McDonagh and Nama chairman Aidan Williams. File picture

The National Asset Management Agency (Nama) is to close on Friday, 16 years after it was established to take over distressed property loans from Irish banks.

The agency, established in December 2009, was tasked with managing and resolving impaired loans secured against approximately 60,000 properties across multiple jurisdictions.