AmendmentInvestment

Licensing and Credit Information Fees of Capital Goods Finance Companies (Directive No. 950/2022)

National Bank Of Ethiopia950/2022

Summary

This directive establishes new licensing and credit information fees for capital goods finance companies in Ethiopia and repeals specific articles from previous directives.

Who's affected

Capital goods finance companies seeking new licenses, renewals, replacements, branch licenses, or credit information from the National Bank of Ethiopia.

Action required

Capital goods finance companies must pay the specified fees for licenses, renewals, replacements, and credit information requests as detailed in the directive.

Key points

5
  • New fees are introduced for licensing and credit information services for capital goods finance companies.
  • Article 9 of Directive No. 284/2020 and Sub-article 10.1 of Directive No. CRB/02/2019 are repealed.
  • The directive specifies fees for new licenses, renewals, replacements, and branch licenses.
    • Show 2 more
    • Fees for credit information depend on the loan amount requested.
    • The directive is effective from October 5, 2022.

Requirements

5
  • Companies applying for a new capital goods finance business license must pay an investigation/application fee of Birr 50,000 and a licensing fee of Birr 100,000.
  • Companies applying for renewal or replacement of their business license must pay a renewal fee of Birr 100,000.
  • Business licenses must be renewed annually between August 1 and October 31.
    • Show 2 more
    • Companies applying for a branch license or its replacement must pay a licensing fee of Birr 4,000 per branch.
    • Fees for credit information requests are tiered based on the amount of aggregate loans and advances requested.

Rights and permissions

1
  • Companies have the right to obtain credit information from the National Bank of Ethiopia upon payment of the prescribed fees.

Restrictions

2
  • Companies must adhere to the fee structure for various licensing and credit information services.
  • License renewal must occur within a specific annual window.

Objectives

2
  • To improve the National Bank of Ethiopia's service quality and satisfy its customers.
  • To revise existing fees and introduce new ones for services provided to capital goods finance companies.

Organizations

1
  • National Bank of Ethiopia

Legal references

4
  • Capital Goods Leasing Business Proclamation No. 103/1998
  • Capital Goods Leasing Business (Amendment) Proclamation No. 807/2013
  • Requirements for Licensing of Capital Goods Finance Business Directives No. 284/2020
    • Show 1 more
    • Establishment and operation of Credit Reference bureau Directives No. CRB/02/2019
Original sourcehttps://justice.gov.et/en/directives/licensing-and-credit-information-fees-of-capital-goods-finance-companies-directive-no-950-2022/
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