Regulatory Alerts2024-07-29
Foreign Exchange Market Operation Code of Conduct
The National Bank of Ethiopia has revised and expanded its Foreign Exchange Market Operation Code of Conduct to apply comprehensively to all authorized banks, licensed foreign exchange bureaus, and retail market participants. Aligning with 45 principles of the Global FX Code, the updated framework mandates strict ethical and professional conduct, robust governance structures, fair order execution, accurate information sharing, and comprehensive risk management. These requirements aim to strengthen market integrity, enhance transparency, and ensure the foreign exchange sector remains resilient against dynamic economic shifts and emerging financial risks.
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