• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home World

Parliament Passes Bill Allowing Foreign Banks To Operate In Ethiopia

OMMCOM NEWS by OMMCOM NEWS
December 18, 2024
in World
House of Peoples' Representatives

Addis Ababa: 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 opening Ethiopia’s banking sector to foreign investment, according to state-affiliated Fana Broadcasting Corporate.

The proclamation, adopted with a majority vote, aligns with the Ethiopian government’s prior policy decisions to liberalise the financial sector. It is expected to attract foreign banks and investors, bringing much-needed capital to the East African nation’s economy.

Mamo Mihretu, governor of the National Bank of Ethiopia (NBE), said the newly approved proclamation will enable the Ethiopian economy to remain stable, noting that the bill has clearly set out the NBE’s core objectives, including ensuring price stability and fostering a robust financial system.

Historically, Ethiopia’s banking sector has been closed to foreign banks, Xinhua news agency reported.

The move signals the end of decades of exclusivity for local financial institutions, paving the way for foreign competition and innovation.

Since taking office in 2018, Prime Minister Abiy Ahmed has consistently advocated for liberalising the financial sector as part of broader economic reforms aimed at attracting foreign investment and driving economic development.

Ethiopia recently floated its foreign exchange, marking another significant shift from the central bank’s strictly regulated interventions.

(IANS)

Tags: Addis AbabaEthiopiaParliament
ShareTweetSendSharePinShareSend
Previous Post

17.80 Lakh New Employees Enrolled Under ESIC In October, A 3 Pc Growth

Next Post

Free Treatment At All Hospitals: Kejriwal Launches ‘Sanjeevani Yojana’ For Delhi’s Senior Citizens

Related Posts

World

Iran To Pakistan, Washington’s Shadow Looms Across Theatres

June 26, 2025
World

EU Envoy Hopes Restoration Of Democratic Order In Bangladesh

June 26, 2025
World

NATO’s Defence Spending Increase Won’t Significantly Affect Russia’s Security: Lavrov

June 26, 2025
World

Agreement Signed On Establishing Special Tribunal For ‘Crime Of Aggression’ Against Ukraine

June 26, 2025
World

South Korea: Lee Nominates New Chief Of Constitutional Court

June 26, 2025
World

Six Killed In China Floods

June 26, 2025
Next Post
Sanjeevani Yojana

Free Treatment At All Hospitals: Kejriwal Launches ‘Sanjeevani Yojana’ For Delhi's Senior Citizens

Umar Khalid

Delhi Court Grants 7-Day Interim Bail To Umar Khalid In ‘Larger Conspiracy’ Case

Ravichandran Ashwin

Your Legacy Will Inspire One And All, Says Tendulkar On Ashwin’s Retirement

khimji
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.