SIB/8/1995 – Amendment of Opening of Branches

የኢትዮጵያ ብሔራዊ ባንክ
NATIONAL BANK OF ETHIOPIA
ADDIS ABABA

TELEGRAPHIC ADDRESS
NATION BANK
TELEX 21020
CODES USED
PETERSON 3rd & 4th ED.
BENTLEY'S 2nd PHRASE
A. B. C. 6th EDITION

POSTAL ADDRESS:
P. O. BOX 5550
ADDIS ABABA

LICENSING AND SUPERVISION OF
INSURANCE BUSINESS

AMMENDMENT OF OPENING
OF BRANCHES

DIRECTIVE NO. SIB/8/1995

1. ISSUING AUTHORITY

These Directives ammending Directive No. SIB/2/1994 are issued by the National Bank of Ethiopia pursuant to the authority vested in it by Article 41 of the Monetary and Banking Proclamation No. 83/1994 and by Article 25 of the Licensing and Supervision of Insurance Business Proclamation No. 86/1994.

2. AMMENDMENT

The National Bank of Ethiopia Licensing and Supervision of Insurance Business Directive No. SIB/2/1994 is hereby ammended as follows.

"4. Duty of the Bank.

The Bank shall give a written response to the applicant within thirty calendar days from the date of receipt of the application and feasibility study under Article 3 hereof.

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የኢትዮጵያ ብሔራዊ ባንክ
NATIONAL BANK OF ETHIOPIA

5. Fee

An insurer licensed to open a branch shall pay Birr 500.00 (Five hundred Birr) for each licensed branch."

These Directives shall enter into force as of 22nd day of May 1995.

Leikun Berhanu
GOVERNOR
NATIONAL BANK OF ETHIOPIA