Directive FXD/14/2000 on Transfer of Freight Expenses for Goods Transported by Trucks Owned by Djibouti Nationals

NATIONAL BANK OF ETHIOPIA
TRANSFER OF FREIGHT EXPENSES FOR GOODS TRANSPORTED BY TRUCKS OWNED BY DJIBOUTI NATIONALS TO AND FROM DJIBOUTI DIRECTIVE NO. FXD/14/2000 Issuing Authority These Directives are issued by the National Bank of Ethiopia (hereinafter the "Bank") pursuant to the authority vested in it by Article 39(2) of the Monetary and Banking Proclamation No. 83/1994. Definitions For the purpose of these Directives unless the context requires otherwise; "Freight Expenses" shall mean cost of inland freight for transporting gods from Djibouti to Ethiopia and vice versa by trucks owned by Djibouti Nationals. "Transit and Forwarding Agents" shall mean a company which has a valid license to engage in the business of transit and forwarding of goods in Ethiopia. "Truck Way Bill" shall mean a valid document issued by truck owners of Djibouti nationality as prescribed by the Ethiopian Road transport Authority. "Suppliers Invoice" shall mean an invoice issued by the foreign supplier of goods. "Customs Declaration" shall mean a valid document issued by the Ethiopian Customs Authority. "Truck voyage Permit" shall mean a permit given for the voyage of the truck by the Ethiopian Road Transport Authority. " Djibouti National" shall mean a person who has a Djiboutian nationality by birth.

Approval of Foreign Exchange by Commercial Banks to Cover Truck Freight Expenses Commercial Banks shall avail foreign exchange to cover freight expenses for goods transported by trucks owned by Djibouti nationals to and from Djbouti upon submission of the following documents by licensed Transit and Forwarding Agents in Ethiopia. For Imports Two copies of import transit and freight expenses application forms duly completed, signed and sealed. A copy of import permit issued by Commercial Banks and/or the National Bank of Ethiopia. Truck Way Bill. A copy of suppliers invoice Customs Declaration or Notice of Goods Arrival Original Truck voyage permit issued by the Ethiopian Road Transport Authority. Copy of the document evidencing Djiboutian Nationality. For Exports A copy of Export permit issued by Commercial Banks and/or the National Bank of Ethiopia Two copies of export transit and freight expenses application forms duly completed signed and sealed. Customs declaration or notice of goods departure. Original invoice issued by transit and forwarding agents in Ethiopia. Truck Way Bill. Truck voyage permit issued by Ethiopian Road Transport Authority. Copy of the document evidencing Djiboutian Nationality.

Submission of Returns
Commercial Banks are required to send to the National Bank of Ethiopia, at the end of each week, a copy of the approved foreign exchange applications with the documents listed herein above. Penalties The National Bank of Ethiopia may impose penalty on authorized Commercial Banks for violation of the provisions of these Directives in accordance with Proclamation No. 83/94. Effective Date These Directives shall enter into force as of June 1, 2000. TEKLEWOLD ATNAFU GOVERNOR