Regulatory Alerts2023-12-14
Added · Updated
Statutory Deposit Directive No. SIB/50/2020
All insurance and reinsurance companies must deposit and maintain with the National Bank of Ethiopia an amount equal to 15% of their paid-up capital in cash or government securities for each main class of insurance business. This requirement applies to both general and long-term insurance operations. The directive entered into force on August 4, 2020.