The Council of Ministers has proposed a draft amendment to the National Bank of Ethiopia (NBE) to address limitations in the current legislation. The amendment aims to support development initiatives, promote national prosperity, and align with evolving international financial practices. The Council also reviewed a draft bill concerning the operation of banks. During the same year, the National Bank stated that it was preparing to invite international financial institutions into the Ethiopian financial sector. This bill would establish regulations for the entry of foreign banks into the Ethiopian financial system.

Source: Ethiopian News June 16, 2024 11:21 UTC