Fortune News | Apr 10,2021
Aug 12 , 2021
The National Bank of Ethiopia (NBE) has ordered commercial banks to suspend all collateral-based loans, an unexpected measure communicated to executives through text message on August 11, 2021.
The suspension includes the disbursement of loans that have already been approved.
The text messages did not specify how long the suspension is to last. Neither are officials at the central bank forthcoming to explain the rationale behind their abrupt measure. The decision was made to curtail "economic sabotage," according to senior government officials.
Private commercial banks disbursed loans totalling 121.2 billion Br in the 2019/20 fiscal year while collecting 93 billion Br in repayment over the same period.
PUBLISHED ON
Aug 12,2021 [ VOL
22 , NO
1111]
Fortune News | Apr 10,2021
Fortune News | Oct 30,2021
Fortune News | Oct 24,2020
Fortune News | Nov 30,2019
Featured | Jul 13,2019
Radar | Oct 09,2021
Radar | Oct 30,2021
Fortune News | Dec 05,2020
Radar | Jan 03,2021
Sponsored Contents | Jul 24,2022
Feb 24 , 2024 . By MUNIR SHEMSU
Abel Yeshitila, a real estate developer with a 12-year track record, finds himself unable to sell homes in his latest venture. Despite slash...
Feb 10 , 2024 . By MUNIR SHEMSU
In his last week's address to Parliament, Prime Minister Abiy Ahmed (PhD) painted a picture of an economy...
Jan 7 , 2024
In the realm of international finance and diplomacy, few cities hold the distinction that Addis Abeba doe...
Sep 30 , 2023 . By AKSAH ITALO
On a chilly morning outside Ke'Geberew Market, Yeshi Chane, a 35-year-old mother cradling her seven-month-old baby, stands amidst the throng...
May 2 , 2024
For successive generations of Ethiopia's tax authorities, the chore of tax collection...
Apr 27 , 2024
The Prosperity Party (PP) - Prosperitians - is charting a course through treacherous...
Apr 20 , 2024
In a departure from its traditionally opaque practices, the National Bank of Ethiopia...
Apr 13 , 2024
In the hushed corridors of the legislative house on Lorenzo Te'azaz Road (Arat Kilo)...