The National Bank of Ethiopia (NBE), the regulatory organ of financial institutions in Ethiopia, is set to introduce a standardized cheque with enhanced security using Magnetic Ink Character Recognition (MICR) starting from early January 2014.
The National Bank of Ethiopia (NBE) has unveiled plans to modernize the government treasury bill (T-bill) system, aiming to make these financial instruments more accessible to citizens and investors. This initiative is part of the NBE’s ongoing efforts to enhance transparency, efficiency, and competitiveness within Ethiopia’s financial markets.
The Governor of the National Bank of Ethiopia (NBE), Mamo Mihretu, announced that the government would continue to take firm legal measures against illegal entities operating in the parallel foreign exchange market, particularly those whose activities distort normal market operations.
National Bank of Ethiopia has inked an agreement with Afreximbank, the continental import-export bank, to collaborate on trade and investment, as well as job creation and poverty reduction.
The National bank of Ethiopia is to hire a consultant to support its plans to prepare a regulatory framework for the launch of 
mobile and agent banking services in the country.
The technology is expected to be helpful but it prudent to be careful in regards to security issues before implementing a new system said an official with the Banking Supervision Directorate of the NBE.
The central bank will be hiring a consultant with a view towards such security concerns and to enable it to create a document that will enable the bank to supervise the use of the new services said the source.
