Regulatory Alerts2013-03-25
Added · Updated
Requirements for Licensing and Renewal of Banking Business Directives No. SBB/56/2013
The National Bank of Ethiopia establishes requirements for obtaining and renewing banking business licenses, replacing Articles 1-3 and 6-12 of Directives No. SBB/39/2006. Applicants must submit specific documentation including a business plan, paid-up capital evidence, and propriety test results, while licensed banks must maintain comprehensive operational policies and physical security standards. License renewal is mandatory annually between July 1 and September 30, accompanied by a renewal fee of 6,000 birr, whereas new licensing involves an investigation fee of 3,000 birr and a licensing fee of 6,000 birr. These directives entered into force on March 1, 2013.
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