Regulatory Alerts2026-05-25
Foreign Exchange Directive No. FXD/05/2026 – Amendment to Foreign Exchange Directive No. FXD/01/2024
The National Bank of Ethiopia issued Foreign Exchange Directive No. FXD/05/2026 to decentralize foreign exchange administration and streamline import processes. The directive authorizes commercial banks to approve letters of credit on acceptance, cash against documents on acceptance, and pre-shipment orders for institutions holding foreign currency or retention accounts without prior National Bank approval. These amendments take effect on May 25, 2026, thereby enhancing operational efficiency and business confidence in Ethiopia's foreign exchange reforms.
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