Central Bank Grants Forex Bureau Permits to Five Non-Bank Operators
The National Bank of Ethiopia (NBE) has granted licenses to five private non-bank entities to operate in the foreign exchange market, in a groundbreaking move to liberalise a tightly regulated forex regime. This marks the first time such permissions have been extended beyond traditional banks, a potential turning point in addressing the acute foreign currency shortage.
The newly licensed operators - Dugda Fidelity Investment Plc, Ethio Independent Foreign Exchange Bureau, Global Independent Foreign Exchange Bureau, Robust Independent Foreign Exchange Bureau, and Yoga Forex Bureau - are expe...