If foreign banks offer the same service lines as local banks, local banks will face difficulties. Apart from that, NBE officials said all the laws and restrictions applied to local banks will apply to foreign banks. The NBE protects local banks’ interests, and local banks, in turn, protect shareholders’ interests. Do you think the state’s crowding of the financial sector has diminished and more bank loans are going to the private sector now? The private sector never ran the economy.

Source: Ethiopian News January 14, 2023 07:17 UTC