Ethiopia Directs Banks to Use Customs Prices for Letters of Credit and Import PermitsEthiopia Directs Banks to Use Customs Prices for Letters of Credit and Import PermitsAddis Ababa, January 25, 2026 (FMC) — National Bank of Ethiopia (NBE) has directed all banks to apply Ethiopian Customs Commission indicative prices when opening Letters of Credit and issuing import permits for selected imported items, effective January 27, 2026. In a press release issued today, Ethiopia’s central bank said the measure aims to strengthen consistency and ensure data integrity in import-related foreign exchange transactions. The central bank noted that following the implementation of the consolidated Foreign Exchange Directive No. The directive also repealed the previous “minimum price” requirement, assigning banks the responsibility to conduct proper price verification when opening Letters of Credit and processing import permits. During implementation, Ethiopia’s central bank observed that prices used in Letters of Credit by most banks differed significantly from the reference prices applied by the Ethiopian Customs Commission.

Source: Ethiopian News January 25, 2026 10:46 UTC