Regulatory Alerts2024-02-29
National Bank of Ethiopia Public Notice on Draft Insurance Directives
The National Bank of Ethiopia has published draft directives establishing new governance requirements for significant influence and external auditors in insurance companies. Pursuant to Proclamation No. 746/2012 and related amendments, the regulator invites stakeholders to review the proposed rules and submit written feedback within twenty days of publication. Comments may be submitted electronically via email or by postal mail to the Insurance Supervision Directorate at P.O. Box 5550.
Public Notice Pursuant to the power vested in it under articles 4(1g&h), 15(4a) 28(1), 29(1) 30(2), 31(1), and 64(2) of Proclamation No. 746/2012 as amended by Proclamation NO.1163/2019 and in line with relevant articles of Proclamation No. 1183/2020, a Proclamation to Provide for Federal Administrative Procedure, the National Bank has drafted and posted directive on “Requirements for Persons with Significant Influence in an Insurance Company” and on “External Auditor”. Accordingly, the National Bank of Ethiopia hereby invites any interested/concerned person to comment on the draft directives within 20 days commencing from the date on which this notice is posted on its website and send the feedback at belayzewude@gmail.com or via the Post Office to Insurance Supervision Directorate at the P.O. Box No. 5550.