Financial Laws
The National Bank of Ethiopia is the central bank
established by the government to maintain price and exchange rate
stability and also foster a sound financial system including
undertaking other function as are conducive to the economic growth
of Ethiopia. Its establishment proclamation, Monetary and Banking
Proclamation No. 83/1994 prescribes the Bank’s powers and
duties. These are:
- Coin, print and
issue legal tender currency;
- Regulate the
supply, availability of money and credit and applicable
interest and other charges;
- Implement exchange
rate policy, allocate foreign exchange, manage and administer
the international reserves of Ethiopia;
- License, supervise
and regulate banks;
- Set limits on gold
and foreign exchange assets which banks and other financial
institutions authorized to deal in foreign exchange can hold
in deposits;
- Set limits on the
foreign exchange position and on the terms and the amount of
external indebtedness of banks and other financial
institutions;
- Make short and long
terms refinancing facilities available to banks and other
financial institutions;
- Accept deposits of
any kind from foreign sources;
- Promote and
encourage the dissemination of banking and insurance services
through out the country;
-
Prepare periodic economic studies, together with
forecasts of the balance of payments, money supply, price and
other relevant statistical indicators of the Ethiopian economy
useful for analysis and for the formulation and determination
by the Bank of monetary, saving and exchange policies;
- Act
as banker, fiscal agent and financial advisor to the
government;
- Exercise
such other powers, perform such other functions and carry out
such other activities as central banks customarily perform.
Hence, the bank may issue directives which are
necessary for the attainment of the purposes for which it is
established and for the proper implementation of this
proclamation. Pursuant to the foresaid reason the Bank regularly
issues Directives. You can find full text of active directives of
the Bank categorized in their respective field of governance.
Directives
Supervision
of Insurance Business (use
Acrobat reader)
Supervision of
Banking Business(use
Acrobat reader)
Supervision of Micro-Financing Institutions(use
Acrobat reader)
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