Radar | Apr 01,2024
Aug 12 , 2021
The National Bank of Ethiopia (NBE) has ordered commercial banks to suspend all collateral-based loans, an unexpected measure communicated to executives through text message on August 11, 2021.
The suspension includes the disbursement of loans that have already been approved.
The text messages did not specify how long the suspension is to last. Neither are officials at the central bank forthcoming to explain the rationale behind their abrupt measure. The decision was made to curtail "economic sabotage," according to senior government officials.
Private commercial banks disbursed loans totalling 121.2 billion Br in the 2019/20 fiscal year while collecting 93 billion Br in repayment over the same period.
PUBLISHED ON
Aug 12,2021 [ VOL
22 , NO
1111]
Radar | Apr 01,2024
Agenda | Aug 27,2022
Radar | Jun 05,2021
Fortune News | Sep 27,2020
Fortune News | Jan 05,2020
Agenda | Feb 01,2020
Agenda | Oct 30,2021
Radar | Jun 12,2021
Fortune News | Oct 15,2022
Fortune News | Feb 23,2019
Feb 24 , 2024 . By MUNIR SHEMSU
Abel Yeshitila, a real estate developer with a 12-year track record, finds himself unable to sell homes in his latest venture. Despite slash...
Feb 10 , 2024 . By MUNIR SHEMSU
In his last week's address to Parliament, Prime Minister Abiy Ahmed (PhD) painted a picture of an economy...
Jan 7 , 2024
In the realm of international finance and diplomacy, few cities hold the distinction that Addis Abeba doe...
Sep 30 , 2023 . By AKSAH ITALO
On a chilly morning outside Ke'Geberew Market, Yeshi Chane, a 35-year-old mother cradling her seven-month-old baby, stands amidst the throng...
Apr 20 , 2024
In a departure from its traditionally opaque practices, the National Bank of Ethiopia...
Apr 13 , 2024
In the hushed corridors of the legislative house on Lorenzo Te'azaz Road (Arat Kilo)...
Apr 6 , 2024
In a rather unsettling turn of events, the state-owned Commercial Bank of Ethiopia (C...
Mar 30 , 2024
Ethiopian authorities find themselves at a crossroads in the shadow of a global econo...