NATIONAL BANK OF ETHIOPIA

አዲስ አበባ / ADDIS ABABA

Requirements for Undertaking Account Based Transactions and Ensuring of Regulatory Limits (Amendment)

Directive No. FIS/05/2022

Whereas, it has become necessary to amend the Requirements for Undertaking Account Based Transactions and Ensuring of Regulatory Limits Directive No. FIS/04/2021;

Now, therefore, in accordance with article 60 and article 66(2) of the Banking Business Proclamation No. 592/208 (as amended by Proclamation No. 1159/2019), article 24 and article 34(2) of the Microfinancing Business Proclamation No. 626/2009 (as amended by Proclamation No. 1164/2019), and article 4(2) and article 37(2) of the National Payment System Proclamation No. 718/2011, the National Bank of Ethiopia has issued this Directive.

1. Short Title

This Directive may be cited as “Requirements for Undertaking Account Based Transactions and Ensuring of Regulatory Limits (Amendment) Directive No. FIS/ 05/2022.”

2. Amendment

Requirements for Undertaking Account Based Transactions and Ensuring of Regulatory Limits Directive No. FIS/04/2021 is hereby amended as follows:

1. Article 6 of the Directive is deleted and Article 7-12, are renumbered as Article 6-11, respectively.

2. Article 10(2) of the Directive (as renumbered) is deleted and replaced by the following new sub-article (2):
   “10.2 Birr 50,000 (Fifty Thousand Birr) for violations of each of Article 4.3, 5.1, 5.2, 5.4, 5.5, 5.8, 6 and 7 (as renumbered) of the Directive”

3) Effective Date

This Directive shall enter into force as of the 5th day of January 2022.

Yinager Dessie (PhD)
Governor

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