FintechAmendment

Interbank Money Market Directive (Amended) (Directive No. 1012/2024)

This directive amends the Interbank Money Market Directive (No. 1012/2024) to regulate and modernize the operations of the interbank money market in Ethiopia. It aims to enhance the efficiency of the banking system by facilitating borrowing and lending between commercial banks, improving monetary policy implementation, and ensuring effective liquidity management.

Who's affectedCommercial banks licensed by the National Bank of Ethiopia, including government-owned commercial banks.
ActionCommercial banks must ensure their trading platforms are approved by the National Bank, adhere to specified trading hours, report transactions as required, and comply with collateral and risk management requirements.
National Bank Of Ethiopia · 1012/2024View source
OtherNew

Directive for Higher Education Academic Programs and Curriculum Design, Review and Approval (Directive No. 917/2022)

This directive outlines the procedures for the design, review, and approval of academic programs and curricula in higher education institutions in Ethiopia. It aims to ensure quality, relevance, and alignment with national development goals and international standards.

Who's affectedPublic and private higher education institutions in Ethiopia, including their academic staff, students, and regulatory bodies.
ActionHigher education institutions must ensure their academic programs and curricula comply with the guidelines set forth in this directive, including undergoing regular review and approval processes.
Ministry of Education · 917/2022View source
OtherNew

Directive on the Merger, Division, Conversion and Dissolution of Organizations (Directive No. 936/2022)

This directive outlines the procedures for the merger, division, conversion, and dissolution of Civil Society Organizations (CSOs) in Ethiopia, as mandated by Proclamation No. 1113/2019. It details the requirements for each process, including registration, documentation, and the transfer of rights and obligations.

Who's affectedCivil Society Organizations operating in Ethiopia.
ActionCivil Society Organizations must review and comply with the specified procedures for merger, division, conversion, or dissolution.
Authority for Civil Society Organizations · 936/2022View source
TradeNew

FOB Directive for Deciding Import Goods and Importers Obliged or Not to Import on FOB (Directive No. 858/2021)

This directive aims to determine which import goods and importers are obligated to use the Free On Board (FOB) purchasing system and which are not. It also aims to manage and monitor the waiver system, service levels, and service fees for carriers transporting goods under the FOB term.

Who's affectedImporters, carriers, government agencies, private enterprises, and commercial banks involved in international trade.
ActionImporters and carriers should review the directive to understand their obligations and restrictions regarding FOB purchasing and related transportation services.
Ministry of Transport and Logistics · 858/2021View source
InvestmentNew

Limitations on Investment of Banks (Directive No. 1016/2024)

This directive establishes limitations on the investment and financing activities of banks operating in Ethiopia to ensure sound and prudent practices, manage risks, and encourage investment in capital market service providers while safeguarding the core banking business.

Who's affectedAll banks operating in Ethiopia, including private and state-owned entities licensed by the National Bank.
ActionBanks must review their investment policies to comply with the new limitations and ensure they have procedures in place for reporting equity investments to the National Bank.
National Bank Of Ethiopia · 1016/2024View source
TradeAmendment

Transparency in Foreign Currency Allocation and Foreign Exchange Management (As Amended) (Directive No. 861/2021)

This directive amends existing regulations on foreign currency allocation and management to ensure transparency, efficiency, and sound practices, detailing priorities for imports, responsibilities of banks and their management, internal audit procedures, prohibitions, and penalties. It replaces Directive No. 53/2020.

Who's affectedBanks operating in Ethiopia, including their boards, executive management, and employees involved in foreign exchange transactions, as well as importers and other entities involved in foreign currency exchange.
ActionBanks must review and update their internal foreign exchange management guidelines and procedures to comply with the requirements of this amended directive. Importers should ensure they adhere to the new allocation priorities and deposit requirements.
National Bank Of Ethiopia · 861/2021View source
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