Regulatory Alerts2023-04-25
Added · Updated
Directive No. MFI/1/1996 Licensing and Supervision of Micro-Financing Institutions
The National Bank of Ethiopia mandates a minimum paid-up capital of Birr 200,000 for applicants seeking a license to conduct micro-financing business. The directive requires submission of specific documentation including evidence of capital, organizational charts, work plans, cash flow projections, and curricula vitae of proposed officers. It establishes fee structures comprising a Birr 250 investigation fee, a Birr 500 initial license fee, and a Birr 300 annual renewal fee. These directives entered into force on October 21, 1996.