Regulatory Alerts2004-05-25
Added · Updated
Directive No. SBB/35/2004 Amendment of Penalty for Non-Compliance with the Directives of National Bank of Ethiopia
Directive No. SBB/35/2004 repeals Directive No. SBB/20/96 and establishes a penalty of Birr 10,000 for each violation by any bank that fails to comply with the Directives of the National Bank of Ethiopia, excluding Directive No. SBB/14/96. The National Bank of Ethiopia retains the authority to take additional measures beyond the specified penalty and may waive the penalty on reasonable grounds. These directives enter into force on March 1, 2004.
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