Stay ahead of Ethiopia's policy changes
Government directives and proclamations, summarized in plain language. Built for business owners, founders, and finance professionals.
Currently tracking:
Establishment and Operation of Treasury Bonds (Directive No. 956/2022)
This directive establishes and outlines the operational procedures for Treasury Bonds in Ethiopia, setting guidelines for their issuance, purchase, transfer, redemption, and penalties for non-compliance. It aims to enhance bank participation in supporting the Ethiopian economy.
Licensing, Credit Information and Examination Fees of Microfinance Institutions (Directive No. 951/2022)
This directive revises and introduces new fees for services provided by the National Bank of Ethiopia to microfinance institutions, including licensing, credit information, and examination fees. It also repeals specific articles from previous directives.
Licensing and Credit Information Fees of Capital Goods Finance Companies (Directive No. 950/2022)
This directive establishes new licensing and credit information fees for capital goods finance companies in Ethiopia and repeals specific articles from previous directives.
Fees on Cash Processing, Sale of Gold/Silver and Cost of Boxes (Directive No. 948/ 2022)
This directive establishes fees for the sale of gold and silver coins, as well as fees for cash processing and the cost of boxes for currency transportation.
Ethiopian Automated Transfer System (EATS) Fees and Penalties (Directive No. 943/2022)
This directive establishes fees, penalties, and incentives for the Ethiopian Automated Transfer System (EATS) to ensure its safe, efficient, and reliable operation, and to improve service quality. It outlines specific charges for joining, membership, various transaction types, e-token services, and penalties for non-compliance or delays, alongside incentives for early or high-volume settlements.
Licensing, Credit Information and Examination Fees on Banks (Directive No. 952/2022)
This directive revises and introduces new fees for banking services provided by the National Bank of Ethiopia, covering licensing, credit information, and examination.
Fees for National Bank’s Payment System Oversight, Licensing, and Authorization Services (Directive No. 944/2022)
This directive establishes new and revised fees for the National Bank of Ethiopia's payment system oversight, licensing, and authorization services for payment instrument issuers and payment system operators.
Pharmacovigilance Directive No. 932/2022
This directive establishes a pharmacovigilance system for monitoring adverse drug events, quality defects, and medication errors related to medicines. It outlines reporting procedures, investigation processes, and regulatory actions to ensure the safety, quality, and efficacy of medicines in Ethiopia. The directive also defines the roles and responsibilities of various stakeholders, including healthcare facilities, regulatory bodies, healthcare professionals, patients, and market authorization holders.
Reserve Requirement – 8th Replacement Directive No. 915/2022
This directive replaces the 7th Replacement Directive concerning reserve requirements for banks operating in Ethiopia. It mandates banks to maintain specific reserve balances with the National Bank of Ethiopia (NBE) and outlines computation methods, reporting requirements, and penalties for non-compliance.
Limitation on Investment of Banks (Directive No. 192/2021)
This directive amends the previous 'Limitation on Investment of Banks Directive No.SBB/60/2015' by establishing new limits on how banks can invest in non-banking businesses, insurance companies, and real estate. It also clarifies which activities are considered core banking business and which are restricted. Banks must report equity investments and develop internal investment policies.
Risk Based Internal Audit (Directive No. 196/2021)
This directive establishes a risk-based internal audit methodology for banks operating in Ethiopia, aiming to enhance the soundness of the banking system, improve the effectiveness of internal control, and strengthen corporate governance.
Manner of Relinquishing Shareholdings of Foreign Nationals of Ethiopian Origin in a Bank or an Insurer (Directive No. 194/2021)
This directive outlines the procedures for foreign nationals of Ethiopian origin to relinquish their shareholdings in Ethiopian banks and insurance companies. It specifies the timeline for surrendering shares, the valuation method (par value), dividend payments, and the process for selling the relinquished shares through public auction. The directive also details reporting requirements for financial institutions to the National Bank of Ethiopia.
Limits on Board Remuneration and Number of Employees Who Sit on a Bank Board (Directive No. 193/2021)
This directive amends previous regulations concerning the remuneration of bank directors and the eligibility of bank employees to sit on a bank's board. It sets limits on annual board compensation and monthly allowances for directors, and prohibits any bank employee, whether permanent or contractual, from serving on a bank's board.
Monitoring the Nationality of Shareholders of a Bank (Directive No. 195/2021)
This directive establishes mechanisms for banks to monitor and ensure that their shareholders are exclusively Ethiopian nationals or institutions wholly owned by Ethiopian nationals, in accordance with existing banking laws.
Foreign Currency Intermediation by Banks (Directives No. 191/2021)
This directive establishes rules for banks in Ethiopia to engage in foreign currency intermediation, allowing them to borrow from external sources and lend to foreign currency generating activities within Ethiopia. It outlines conditions for external borrowing, utilization of acquired foreign currency, and prudential and reporting requirements for banks.