Regulatory Alerts2018-09-15
Added · Updated
Third Amendment of Branch Opening Directive No. SBB/66/2018
This Directive establishes requirements for banks operating in Ethiopia to obtain authorization for opening, relocating, closing, upgrading, or downgrading branches and sub-branches. It mandates a fee of birr 3000 for each such action and requires banks to commence operations within six months of authorization. Sub-branches are prohibited from conducting international banking, trade finance, or processing loans and advances. The National Bank of Ethiopia must provide a written response within half a day of receiving a complete application, and this Directive repeals the Second Amendment of Branch Opening Directive No. SBB/58/2014.
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