FORTUNE+ VIDEO JOBS SPONSORED CONTENTS FORTUNE AUDIO TRADE AFRICA new

COVID-19 UPDATES: All the stories and commentaries on Coronavirus, in one place


Central Bank Increases Minimum Paid-Up Capital to 5b Br

April 15 , 2021

Commercial banks in business have four years to increase their paid-up capital to five billion Birr. Banks under formation that have already raised an equity of over 500 million Br from the public are required to comply in seven years.

A directive issued by the National Bank of Ethiopia (NBE) on April 12, 2021, has more than doubled the minimum capital threshold, revising the existing directive issued in 2008. It is the second amendment after the minimum capital requirement was increased two years ago to two billion Birr.

Whether in business or under formation, all banks are required to submit their action plans for capital increase to the central bank, the directive says. The cut date for the minimum capital requirement is set for June 30, 2026.

Put your comments here




Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

The Missed Opportunity for Effective CSR Regulation in Ethiopia

The terms corporate accountability, corporate ethics, corporate citizenship, corporat...

The Power and Poison of MMT

When Democratic Senator Joe Manchin announced that he would not support US President Joe Biden’s Build Back Better Act – effectively doo...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country’s most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or tw...

Editorial

Peace Process within Arm's Reach. Beware Spoilers!

January 15 , 2022

Foes and friends of Prime Minister Abiy Ahmed (PhD) agree that his administration is...

It`s Not Too Late to Thwart Economic Calamity

January 7 , 2022

There has not been much research to put a number on high costs wars inflict on Africa...

Ethiopia: May the New Year Usher Security, Opportunities!

January 1 , 2022

It is a norm to emphasise grand structural changes to address the myriad political pr...

Older Folks May Be Looking to Negotiate. They Need All Help They Can Get!

December 25 , 2021

In the words of Herbert Hoover, the 31st president of the United States, it is older...

Gallery

Parliament Approves New Cabinet Members

October 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

January 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

September 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

December 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

April 26 , 2019

Sunday With Eden

Prejudice's Externalisation of Self-Hate. Better to look Inside

I lived in Tanzania some time ago, working on a project. I met new people who came f...

Saddened One Moment, Triumphant Another, Physicians Dare to Care

There is a huge smile on every patient's face as the physicians at Saint Peter’s Sp...

Life Matters

Right Order Comes Down to Pen, Paper

In many high school and college movies, it is not hard to find characters doing part...

Price of Loyalty Shouldn't be Social Ill

I am often accused of taking sides with the underdog. Perhaps I feel they deserve it...

Drop us a message

Or see contact page