The National Bank of Ethiopia (NBE) has drafted a directive which sets priorities and establishes the “first come, first served” rule which should be observed by banks when allotting foreign currency, according to The Reporter.
The National Bank of Ethiopia have awarded Oberthur Technologies, a French currency printing company, printing contract of five Birr notes worth three billion Ethiopian Birr, Fortune reported.
The Central Bank selected the company three weeks ago, out of five companies which participated in the bid. The German-based, Gieseck & Devrient; Switzerland’s, Swiss Crane; the Swedish, EnSKEDE and the UK’s, De La Rue, responded to the tender, along with Oberthur Technologies.
The National Bank of Ethiopia has signed a 3.4 million US dollar contract with Indian company Polaris Financial Technology ltd
for the replacement of its CORE Banking technology.
Polaris, locally represented by Ernst and Young, won the contract over Mysis which had originally supplied the National bank with the software it has been using for the previous 15 year.
The new software purchased by the central bank is a solution known as Intellect which specialized in the management of banking specific operations such as the administration of national foreign currency reserves, gold reserves and the settlement and payment of the government accounts as well as the issue of currency and interfacing with the National Payment System.
The National Bank of Ethiopia (NBE) has started reviewing possible frameworks for a Central Bank Digital Currency (CBDC) as part of its broader consideration of future digital payment systems.
National Bank of Ethiopia (NBE) will launch implementing check standardization system as of January 1, 2016, Capital reported.
