The National Bank of Ethiopia (NBE) inaugurated its new centralized, online, real-time, electronic (CORE) banking system after months of delay, Fortune reported.
The NBE launched its new CORE banking system, called Quantum Intellect, replacing the previous Bank Master system, on Monday, November 18, 2013.
The National Bank of Ethiopia (NBE) issued a new circular on foreign exchange transactions numbered FEMRMD/0585/2024, effective August 3, 2024, which was aimed at increasing transparency in the foreign exchange market.
The National Bank of Ethiopia (NBE) announced it has lifted the limit it put on number of bank transfers allowed per week. NBE had restricted number of bank transfers allowed per week to just five per week for a year, since January 2021.
The National Bank of Ethiopia issued a directive limiting the amount of cash withdrawal allowed, effective May 19, 2020. As per the directive, individuals can withdraw a maximum of 200,000 birr per day and a million birr per month. Companies, however, can withdraw up to 300,000 birr per day and 2.5 million birr per month.
The National Bank of Ethiopia (NBE) has announced that starting December 1, 2024, all payment service providers in the country must adopt standardized QR codes for digital payments. This move aims to streamline the diverse QR codes in circulation, providing a unified system that aligns with NBE's guidelines.
