The National Bank of Ethiopia (NBE) is the central agency with the mandate of regulating the financial sector and, among others, foreign exchange. The NBE formulates and implements exchange rate policies. As part of this mandate, the NBE issues regular directives and circulars with the aim of regulating the foreign exchange regime. This legal update will provide you with a short summary of the relevant directives of the NBE that amended existing directives in connection with foreign exchange regulation in Ethiopia from the period August 2016 – December 2017.
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The year 2016- 2017 saw lots of legislative activities from the Federal House of Representatives (HoPR) and the Council of Ministers (COM). A total of 114 proclamations and regulations were collectively enacted by the COM and HoPR. In this issue of our legal update, we will summarize the key legislations that were passed in this period with particular focus on commericial matters. We also have the full list of legislations available for download.