AmendmentInvestment

Licensing, Credit Information and Examination Fees on Banks (Directive No. 952/2022)

National Bank Of Ethiopia952/2022

Summary

This directive revises and introduces new fees for banking services provided by the National Bank of Ethiopia, covering licensing, credit information, and examination.

Who's affected

All banks operating in Ethiopia, including those seeking new licenses, renewals, replacements, or operating branches.

Action required

Banks must pay the new fees for licensing, renewals, replacements, branch licenses, examinations, and credit information as specified in the directive.

Key points

5
  • New and revised fees are introduced for banking services.
  • Fees vary for new licenses, renewals, replacements, and branch licenses.
  • Annual examination fees are tiered based on bank size (big, medium, small).
    • Show 2 more
    • Fees for credit information are dependent on the aggregate loan amounts requested.
    • This directive repeals specific articles from previous directives.

Requirements

6
  • Banks applying for a new license must pay an investigation fee of Birr 100,000 and a licensing fee of Birr 300,000.
  • Banks applying for license renewal must pay an annual renewal fee of Birr 200,000.
  • Banks applying for license replacement must pay a fee of Birr 50,000 per application.
    • Show 3 more
    • Banks applying for branch or sub-branch licenses must pay a fee of Birr 5,000 per license.
    • Banks must pay annual examination fees based on their size: Birr 1,000,000 for big banks, Birr 750,000 for medium banks, and Birr 500,000 for small banks.
    • Banks applying for credit information will pay fees based on the aggregate requested loans and advances, with specific rates for amounts up to Birr 100,000, between Birr 100,001 and Birr 1,000,000, and above Birr 1,000,000.

Rights and permissions

2
  • Banks have the right to apply for new licenses, renewals, replacements, and credit information.
  • Banks have the right to obtain banking business licenses.

Restrictions

2
  • Fees are imposed on various banking services provided by the National Bank.
  • The directive specifies different fees based on the type of application (new, renewal, replacement), license type (branch, sub-branch), bank size, and the amount of credit information requested.

Objectives

2
  • To improve the National Bank of Ethiopia's service quality.
  • To revise existing fees and introduce new fees for services provided to banks.

Organizations

1
  • National Bank of Ethiopia

Legal references

5
  • Banking Business Proclamation No. 592/2008
  • Banking Business (Amended) Proclamation No.1159/2019
  • Requirements for Licensing and Renewal of Banking Business Directive No.601/2021
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    • Third Amendment of Branch Opening Directive No.604/2021
    • Directives for the Establishment and Operation of Credit Reference Bureau Directive No.CRB/02/2019
Original sourcehttps://justice.gov.et/en/directives/licensing-credit-information-and-examination-fees-on-banks-directive-no-952-2022/
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