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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:

  1. Coin, print and issue legal tender currency;
  2. Regulate the supply, availability of money and credit and applicable interest and other charges;
  3. Implement exchange rate policy, allocate foreign exchange, manage and administer the international reserves of Ethiopia;
  4. License, supervise and regulate banks;
  5. Set limits on gold and foreign exchange assets which banks and other financial institutions authorized to deal in foreign exchange can hold in deposits;
  6. Set limits on the foreign exchange position and on the terms and the amount of external indebtedness of banks and other financial institutions;
  7. Make short and long terms refinancing facilities available to banks and other financial institutions;
  8. Accept deposits of any kind from foreign sources;
  9. Promote and encourage the dissemination of banking and insurance services through out the country;
  10. 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;
  11.  Act as banker, fiscal agent and financial advisor to the government;
  12.  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.

 

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