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Legislators Pass Bills Reforming Financial Sector

June 15 , 2019

Parliament has legislated two bills that will enable the Ethiopian diaspora to invest in banking and banks, as well as consider movable assets as collateral. Attended by 310 members of the parliament, the session held on June 13, 2019, legislated the two bills with majority votes. The first proclamation, for movable assets, will enable low-income populations such as smallholder farmers, lower-scale entrepreneurs to secure loans for investment and job creation purposes. The second proclamation that allows foreign nationals of Ethiopian origin to invest in the banking sector aims at creating fertile ground for Ethiopian diaspora to take advantage of the comprehensive changes underway in their country of origin.


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