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CBE, Agency Ink Data Integration Agreement

July 18 , 2021

The state-owned Commercial Bank of Ethiopia (CBE) and the Federal Document Authentication and Registration Agency have signed a memorandum of understanding to enable data integration for quicker access to legal documents. Officials at the Bank disclosed that the move was necessitated by issues with forged power of attorney documents, which require lengthy procedures to verify and correct. The new digital system will enable the CBE to access the necessary information using a QR code. The system will work even if network systems are down and the service is free. Though the CBE is the first to officially adopt the system, integration has been completed with 17 other banks and the Agency is currently awaiting agreements, according to Muluken Amare, director-general of the Agency.


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