The National Credit Regular was established under the National Credit Act 34 of 2005 (the Act) and is responsible for regulation of the South African credit industry. It is tasked with education, research, policy development, registration of industry participants, investigation of complaints and ensuring enforcement of the Act.

The Act requires the regulator to promote the development of an accessible credit market, particularly to address the needs of historically disadvantaged persons, low income persons, and remote, isolated or low density communities.

The NCR is also tasked with the registration of credit providers, credit bureaux and debt councillors; and enforcement of compliance with the Act.