The Ethiopian House of Peoples’ Representatives (HPR), approved draft proclamations on banking, customs, and provisions of compensation for evading fraud during its second urgent session. Prior to approving the proclamations, the House thoroughly discussed the issues brought forward by the respective Standing Committees.

The banking proclamation, which has been approved unanimously, aims to encourage foreign nationals of Ethiopian descent to take part in and contribute to Ethiopia's socio-economic development. The new proclamation is also expected to put forth the opportunity to further modernize the Ethiopian banking sector.

The customs proclamation, which also was unanimously approved, is set to avoid the bottlenecks of the customs administration and accelerate simple and time-efficient service delivery for customers. It will also scrap economic mischief done in abusing duty-free privileges and enhance the follow-up mechanism for smooth services, it was learned.

The proclamation on the provision of compensation for persons relocated from their land to be put under public use for the greater utility which was approved despite 5 abstentions and 5 against votes. This new proclamation will enable displaced people to relocate to their area and get a proportional replacement of land, compensation and rehabilitation fund.

Source: ENA