Regulatory Alerts2001-05-09
Added · Updated
Directive No. FXD/18/2001 – Amendment to Directive No. FXD/07/1998
The National Bank of Ethiopia amends Article 8 of Directive No. FXD/07/1998 to require ex-post price verification for export items where verifiable international prices are available. The directive annexes a specific list of export commodities, including seeds, pulses, oil seeds, spices, cereals, hides, and cotton, for which these verifications must be conducted. The National Bank of Ethiopia reserves the right to communicate any additions or reductions to this list to commercial banks in writing. This amendment enters into force on May 09, 2001.
DIRECTIVE NO. FXD/18/2001 Amendment to Directive No. FXD/07/1998 Issuing Authority These Directive are issued by the National Bank of Ethiopia (herein after "NBE") pursuant to the authority vested in it by Article 39(1) and (2) of the Monetary and Banking Proclamation No. 83/1994. Amendments Under Directive No. FXD/07/1998, issued with the title "to Transfer NBE's Foreign Exchange Functions to Commercial Banks", Article 8 is hereby amended to read as: The NBE shall undertake ex-port price verification of export items in the following way. The following statement are added under sub-article 2 of Article 8. Ex-post verifications shall be conducted for the list of exportable commodities for which verifiable international prices are available. The list of export products for which international price information is available are annexed herewith which forms part and parcel of the amendment issued (see list attached hereto). Any addition or reduction to the list, provided in the Annex attached, shall be communicated to commercial banks in written by the NBE from time to time. Effective Date These Directive amendment shall enter into forces as of May 09, 2001. ALEMSEGED ASSEFA May 09, 2001 VICE GOVERNOR NATIONAL BANK OF ETHIOPIA
Annex to Directive No. FXD/18/2001, Issued in Connection with the Ex-port Price Verifications of Export Commodities by NBE Export products for which international prices list are readily available. NO. Export Commodity No. Export Commodity
- Seeds and Pulses 4.6 Pepper (black) 1.1 Lentils 1.2 Millet 4.7 Pepper (white) 1.3 Haricot beans 1.4 Soyabean 4.8 Turmeric 1.5 Chick peas
- Cereals
Oil seeds 5.1 Corn/maize 5.2 Wheat 2.1 Rape seeds/Canola 5.3 Sorghum 2.2 Sesame seeds 6. Hides and skins 2.3 Sun flower seeds 6.1 Wet blue goat skins 6.2 Goat kid skin 2.3 Linseed/Flax 6.3 Prickled sheep skins 6.4 Wet blue sheep skins 3. Waxes and Gums 6.5 Crust sheep skins 6.6 Wet blue hide 3.1 Bees was 6.7 Crust bovine hide 3.2 Gum Arabic 7. Honey 4. Spices 4.1 Chilies 8. Cotton 4.2 Cinnamon 4.3 Cumin seed 9. White sugar 4.4 Garlic 4.5 Ginger 10. Te a