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Ethiopian Federal Laws
Go to Laws Index
Title:
Banking Business
Proclamation No.:
592/2008
Jurisdiction:
Federal
Law Type:
Proclamation
Category:
Economic and Trade Regulation,Finance and Investment
Country:
Ethiopia 🇪🇹
Amended By / Repealed By:
Financial Reporting - Proclamation: 847/2014
Format:
PDF (
Amharic and English
)
Unit Price nUT 80001 nUT FEDERAL NEGARIT GAZETA OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA yZB MKR bT yw CONTENTS 592/2008 4200 xJ PROCLAMATION NO. A PROCLAMATION TO PROVIDE FOR BANKING BUSINESS WHEREAS, banks play an important role in economic development through mobilization of funds from within and outside the country and channeling such funds to various sectors of the economy; WHEREAS, banks occupy a central place in the payment and settlement system of the countrys economy; WHEREAS, the business of banking has a number of attributes which, if not managed properly, has the potential to generate financial system and macroeconomic instability; WHEREAS, the cost of financial system and macroeconomic instability to the general public and the Government is significant; WHEREAS, it is essential to ensure safety, soundness and stability of the banking system by having a comprehensive law for the licensing and supervision of the banking business; NOW, THEREFORE, in accordance with Article of the Constitution of the Federal Democratic Republic of Ethiopia, it is hereby proclaimed as follows: %7 qN 57. 2008
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