Regulatory Alerts2023-04-25
Added · Updated
Licensing and Supervision of the Business of Micro-Financing Institutions Directive No. MFI/07/96: Branches
Licensed micro-financing institutions may open new branches, subsidiaries, or offices without prior approval from the National Bank of Ethiopia, provided they submit written notification of the address, commencement date, and local economic conditions within fifteen days of opening. Closure of branch offices requires prior approval from the National Bank of Ethiopia, with applications submitted by the board of directors at least three months before the intended closure. These directives entered into force on the 21st day of October 1996.
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