Regulatory Alerts1995-05-22
Added · Updated
SIB/8/1995 – Amendment of Opening of Branches
Directive No. SIB/8/1995 amends Directive No. SIB/2/1994 by establishing a thirty-calendar-day deadline for the National Bank of Ethiopia to issue a written response to branch opening applications. It also sets a fee of Birr 500.00 for each licensed branch. These provisions entered into force on May 22, 1995.
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
- 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.
- 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.
የኢትዮጵያ ብሔራዊ ባንክ NATIONAL BANK OF ETHIOPIA
PAGE 2
- 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