Regulatory Alerts2023-04-25
Added · Updated
Interest Rate Directives No. NBE/INT/12/2017
The National Bank of Ethiopia establishes a minimum interest rate of 7.0 percent per annum for savings and time deposits, while demand deposit and lending rates are freely determined by each bank. Banks must set these rates in writing based on explicit criteria, submit them to the regulator within five working days, and ensure non-discriminatory application among depositor categories. The directives repeal all prior interest rate directives and take effect on October 11, 2017.
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