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Council Passes Bill Allowing Ethiopian Natives to Invest in Banking

A highly anticipated bill allowing Ethiopian natives of foreign nationalities to invest in the banking sector has been approved by the Council of Ministers today.

It will be tabled to parliament for legislators to vote on the amendments of an existing law regulating the financial sector. If passed, it will also allow banks to mobilize resources from external sources for domestic borrowing.

The bill was one of three tabled to the Council today, along with three decrees, according to the press secretariat of the Prime Minister's Office.

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