The National Asset Management Agency (NAMA; Irish: Gníomhaireacht Náisiúnta um Bhainistíocht Sócmhainní) is a body created by the government of Ireland in late 2009 in response to the Irish financial crisis and the deflation of the Irish property bubble.NAMA functions as a bad bank acquiring property development loans from Irish banks in return for government bonds ostensibly with a view to improving the availability of credit in the Irish economy.