The National Bank of Ethiopia issued an amended directive raising the maximum amount of foreign exchange cash overseas travelers can obtain from authorized foreign exchange dealers, Fortune reported.
The amended foreign exchange directive become become effective as of as of October 4, 2013.
The National Bank of Ethiopia (NBE) has formally re-licensed the Representative Office of Standard Bank, marking the first such approval issued under the country’s newly revised Banking Business Proclamation.
The National Bank of Ethiopia is considering amendment to its "Mobile and Agent Banking Services" directive enacted in January 2013, Fortune reported.
The directive opened the door for banks and micro-finance institutions to provide transaction-based mobile and agent banking services.
Ethiopia’s central bank, National Bank of Ethiopia (NBE) disclosed it has rescheduled the start of the long waited secondary capital market. The plan was initially to establish the market by July 2017.
The National Bank of Ethiopia (NBE) says foreign investors can now fully repatriate dividends and other eligible payments, removing a long-standing constraint on Foreign Direct Investment (FDI).
