Regulatory Alerts2023-04-25
Added · Updated
Legal Tender Protection (Amendment) Directive No. CMD/02/2021
The National Bank of Ethiopia amends the Legal Tender Protection Directive to reduce the banknote hoarding limit for natural persons to Birr 100,000 and for juridical persons to Birr 200,000. Any excessive hoarding in violation of these limits is subject to confiscation under Proclamation No. 591/2008. Holders must reduce excessive banknote holdings to the new limits within three calendar days of the directive's effective date. The directive enters into force on March 10, 2021.
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