2023-04-25

Added 2026-06-03 · Updated 2026-08-04

Transparency in Foreign Currency Allocation and Foreign Exchange Management (as Amended) Directives No. FXD/77/2021

Banks must allocate at least 50% of total foreign currency for imports to priority sectors, distributed as 15% for first priority, 45% for second, and 40% for third, surrendering any shortfall to the National Bank monthly or semi-annually. The directives prohibit allocating exporter funds to import business outside specified procedures, require a 30% cash upfront for Letters of Credit, and mandate a 50% blocked deposit for non-priority importers. Non-compliant banks face a USD 5,000 fine per violation, while non-compliant importers may be blacklisted for six months to two years. These rules replace Directive No. FXD/67/2020 and entered into force on December 1, 2021.

Ethiopia

National Bank of Ethiopia

Follow NBE

Show thumbnailShow full textSourceAdd to collection

Show thumbnail