Regulatory Alerts2018-09-26
Added · Updated
Limits on Board Remuneration and Number of Employees Who Sit on a Bank Board (as Amended) Directive No. SBB/67/2018
The directive limits annual board compensation for directors of banks operating in Ethiopia to 150,000 Birr and monthly allowances to 10,000 Birr, prohibiting any other financial remuneration or benefits. It further prohibits any bank employee, whether permanent or contractual, from sitting on the board of any bank. This directive repeals and replaces Directive No. SBB/63/2016 and entered into force on August 29, 2018.
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