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A local newspaper reported that 2.4 billion Ethiopian birr ($42 million) was lost. ... after the problem was discovered at the Commercial Bank of Ethiopia, local media reported. News of the glitch ...
The National Bank of Ethiopia (NBE; Amharic: የኢትዮጵያ ብሔራዊ ባንክ) is the central bank of Ethiopia. Its headquarters are in the capital city of Addis Ababa. Mamo Mihretu is the current governor of the bank. [2] The bank is active in promoting financial inclusion policy and is a member of the Alliance for Financial Inclusion ...
On 15 March 2024, the Commercial Bank of Ethiopia (CBE) encounter systemic glitch that occurred between 12 a.m. and 3 a.m in local time. CBE released five notes within less than 24 hours, describing the bank failure as a systemic problem in its branch level. [4] CBE President Abe Sano said that much of the money was withdrawn by students. [5]
Mamo Esmelealem Mihretu (Amharic: ማሞ እስመላለም ምህረቱ) is an Ethiopian economist and lawyer who is the governor of the National Bank of Ethiopia (NBE) since 2023. Mamo has worked with the World Bank as the Senior Private Sector Specialist at the World Bank Group (WBG) in Nairobi, Kenya from 2010 to 2018.
Ethiopia reached a separate debt-service suspension deal with China earlier in 2023. Ethiopia has been without an IMF program since its last lending arrangement with the fund expired in late 2022.
The National Bank of Ethiopia (NBE) in 2008. On 29 July 2024, the National Bank of Ethiopia (NBE) relaxed restrictions on the value of the Ethiopian birr to secure a loan of $10.7 billion from the International Monetary Fund (IMF) and World Bank. [1]
[2] [3] In 1963, a new banking law allows split into the National and Commercial Bank of Ethiopia. The law included other commercial banks to operate, including foreign banks operated 51% owned by Ethiopians. The biggest of these was the Addis Ababa Bank, owned by 40% owned by British owned Grindlays Bank, and had 26 branches by 1975.
National Bank of Ethiopia; References This page was last edited on 8 December 2024, at 02:42 (UTC). Text is available under the Creative Commons Attribution ...