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Ethiopia: Parliament Approves Banking Proclamation, Allowing Foreign Banks to Enter Ethiopia's Financial Sector

Ethiopia's parliament has approved a banking proclamation that allows foreign banks to enter the financial sector.
The new proclamation aims to enhance competition in the banking sector.
Foreign banks will be allowed to establish wholly-owned subsidiaries in Ethiopia.
The decision is expected to attract foreign investment and improve financial services for consumers.

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Anadolu Ajansı

Ethiopia opens doors to foreign banks with new law

Approval comes after 6 months of deliberation after Council of Ministers passed draft version of proclamation - Anadolu Ajansı

3 months ago·Ankara, Türkiye

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allAfrica

Ethiopia: Parliament Approves Banking Proclamation, Allowing Foreign Banks to Enter Ethiopia's Financial Sector

Addis Abeba -- After years of anticipation, lawmakers have approved the long-awaited banking business proclamation, paving the way for foreign banks to enter Ethiopia's financial sector.

3 months ago·South Africa

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News Ghana

Ethiopian Parliament Approves Bill to Allow Foreign Banks

News Ghana, Latest Updates and Breaking News of Ghana, Xinhua, https://newsghana.com.gh/ethiopian-parliament-approves-bill-to-allow-foreign-banks/The Ethiopian House of Peoples’ Representatives (HoPR), the lower chamber of parliament, has passed a bill that allows foreign banks to operate in the country. During its regular session on Tuesday, the HoPR reviewed and passed the Banking Business Proclamation, marking a significant step toward openin…

3 months ago

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innovation-village.com

Ethiopia Lifts Banking Restrictions, Approves Foreign Bank Entry to Boost Economy & Financial Sector - Innovation Village | Technology, Product Reviews, Business

Ethiopia’s parliament has enacted a law permitting foreign banks to operate within its borders, marking a significant shift in the nation’s economic landscape. This legislation, passed on December 17, 2024, is a cornerstone of Prime Minister Abiy Ahmed’s broader strategy to liberalise Ethiopia’s economy and attract foreign investment. Key Provisions of the New Law The legislation outlines several avenues for foreign banks to enter the Ethiopian …

3 months ago

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thepaypers.com

Ethiopia passes law to Open Banking to foreign competition

Ethiopia's parliament has passed a legislation that allows foreign banks to operate in Africa, as part of its efforts to attract more overseas investment.

3 months ago

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The Citizen

Ethiopia Parliament gives nod for entry of foreign banks

Ethiopia’s Parliament has approved a bill allowing foreign banks to establish operations in the country, paving the way for the long-awaited expansion of regional lenders

3 months ago·Dar es Salaam, Tanzania, United Republic of

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