Legal Regulation of Banking Activities in Ethiopia

The article analyzes the formation and development of legal regulation of banking activities in Ethiopia. Special attention is paid to the recent reforms in the legal regulation of Ethiopia’s banking sector. The article concludes that in carrying out banking regulation and supervision, the National Bank of Ethiopia places particular emphasis on the stability of banks and the protection of depositors’ rights. Recent banking reforms have opened the door for foreign investors to participate in Ethiopia’s banking sector. Significant market-oriented changes have taken place in the area of currency regulation. Free economic zones are being established and developed in Ethiopia. A distinctive feature of the development of banking activities in Ethiopia is that Islamic banking has a strong influence on it.

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