Photo Gallery | 96197 Views | May 06,2019
Nov 21 , 2019
The National Bank of Ethiopia (NBE) ended the mandatory bond that private banks were obliged to purchase from the state-owned Development Bank of Ethiopia (DBE) today.
In place since 2011, the directive from the central bank was designed to redirect deposits mobilised by private banks, amounting to 27pc of their loans and advances. Forced to earn five percent interest on deposits on which they pay seven percent, this has remained a source of resentment to many bankers.
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