cbe

USD
55.2124
56.3166
,
GBP
64.4967
65.7866
,
EUR
58.7184
59.8928
,
CHF
57.9363
59.095
,
SEK
4.5316
4.6222
,
NOK
4.6506
4.7436
,
DKK
7.1279
7.2705
,
DJF
0.3092
0.3154
,
JPY
0.3362
0.3429
,
CAD
37.1227
37.8652
,
SAR
13.3203
13.5867
,
AED
13.6031
13.8752
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
32.1139
32.7562
,
SDR
,
ZAR
,
CNY
6.8347
6.9714
,
KWD
170.5482
173.9592

awash

EUR
56.5106
57.6408
,
GBP
64.5257
65.8162
,
JPY
0.4037
0.4118
,
CHF
57.4629
58.6122
,
SAR
14.1527
14.4358

abyssinia

abay

USD
55.2124
56.3166
,
EUR
58.7184
59.8928
,
GBP
67.5358
68.8865
,
CHF
60.6663
61.8796
,
AUD
35.485
36.1947
,
AED
15.0311
15.3317
,
CNY
7.5522
7.7032
,
DKK
7.8761
8.0336
,
DJF
0.3092
0.3154
,
INR
0.664
0.6773
,
JPY
0.3715
0.3789
,
KES
0.3737
0.3812
,
NOK
5.1388
5.2416
,
SAR
14.7186
15.013
,
ZAR
2.946
3.0049
,
SEK
5.0073
5.1074
,
SDR
72.654
74.1071

zemen

CAD
41.0196
41.84
,
EUR
58.7184
59.8928
,
GBP
67.5358
68.8865
,
SEK
5.0073
5.1074
,
USD
55.2124
56.3166

buna

USD
54.778
55.8736
,
EUR
60.4201
61.6285
,
GBP
67.3216
68.668
,
AED
13.4962
13.7661
,
SAR
13.2148
13.4791
,
CAD
37.5106
38.2608
,
CNY
6.9339
7.0726
,
USD
7.3374
7.4841
,
EUR
4.7259
4.8204
,
GBP
60.0815
61.2831
,
AED
0.3485
0.3555
,
SAR
4.8953
4.9932
,
CAD
170.2997
173.7057
,
CNY
33.2543
33.9194

nib

GBP
64.4967
65.7866
,
EUR
58.7184
59.8928
,
CHF
57.9363
59.095
,
USD
55.2124
56.3166
,
CAD
37.1227
37.8652
,
AED
13.6031
13.8752
,
SAR
13.3203
13.5867

berhan

wegagen

USD
55.1843
56.288
,
GBP
65.3387
66.6455
,
EURO
59.0472
60.2281
,
CAD
37.1702
37.9136
,
AUD
32.2574
32.9025
,
CHF
58.7918
59.9676
,
SEK
4.4943
4.5842
,
NOK
4.6479
4.7409
,
DKK
7.1688
7.3122
,
DJF
0.3093
0.3155
,
INR
0.6629
0.6762
,
KSH
0.3749
0.3824
,
JPY
0.3382
0.345
,
SAR
13.3139
13.5802
,
AED
13.5955
13.8674
,
ZAR
3.1723
3.2357
,
CNY
6.8493
6.9863
,
KWD
170.6195
174.0319

dgb

USD
55.2124
56.3166
,
GBP
67.5358
68.8865
,
EUR
58.7184
59.8928
,
CHF
60.6663
61.8796
,
CAD
41.0196
41.84
,
AUD
35.485
36.1947
,
SEK
5.0073
5.1074
,
NOK
5.1388
5.2416
,
DKK
7.8761
8.0336
,
DJF
0.3092
0.3154
,
INR
0.664
0.6773
,
KSH
0.3737
0.3812
,
JPY
0.3715
0.3789
,
SAR
14.7186
15.013
,
AED
15.0311
15.3317
,
ZAR
2.946
3.0049
,
CNY
7.5522
7.7032
,
KWD
178.5845
182.1562

enat

USD
53.1422
54.205
,
GBP
62.1342
63.3769
,
CHF
0
0
,
SEK
0
0
,
NOK
0
0
,
DKK
0
0
,
KES
0
0
,
JPY
0
0
,
DJF
0
0
,
CAD
0
0
,
AUD
0
0
,
SAR
0
0
,
AED
0
0
,
ZAR
0
0
,
CNY
0
0

addis

nbe

KWD
126.8085
129.34467
,
CNH
5.6258
5.738316
,
ZAR
2.6751
2.728602
,
AED
9.9063
10.104426
,
SDR
57.7908
58.946616
,
EUR
48.4016
49.369632
,
CAD
28.7765
29.35203
,
AUD
28.3265
28.89303
,
JPY
0.3389
0.345678
,
SAR
9.7001
9.894102
,
INR
0.5525
0.56355
,
DJF
0.2234
0.227868
,
KES
0.3664
0.373728
,
DKK
5.8896
6.007392
,
NOK
4.2714
4.356828
,
SEK
4.3114
4.397628
,
CHF
41.5822
42.413844
,
GBP
53.539
54.60978

dashen

USD
55.2124
56.3166
,
GBP
64.4967
65.7866
,
CHF
57.9363
59.095
,
SEK
4.5316
4.6222
,
NOK
4.6506
4.7436
,
DKK
7.1279
7.2705
,
JPY
0.3362
0.3429
,
CAD
37.1227
37.8652
,
SAR
13.3203
13.5867
,
AED
13.6031
13.8752
,
EUR
58.7184
59.8928
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY
,
AED

oromia

USD
53.3285
54.3951
,
EUR
56.7522
57.8872
,
GBP
64.2235
65.508
,
SAR
14.185
14.4687
,
CHF
57.398
58.546
,
AED
14.5198
14.8102

lion

USD
55.2124
56.3166
,
GBP
64.4967
65.7866
,
EUR
58.7184
59.8928

coop

USD
55.208
56.3122
,
GBP
67.6574
69.0105
,
EUR
58.8131
59.9894
,
SAR
14.7182
15.0126
,
AED
15.0291
15.3297

gadaa

hijra

EUR
59.0833
60.265
,
USD
54.2297
55.3143
,
GBP
64.8713
66.1687
,
AED
13.3629
13.6302
,
KWD
168.8489
172.2259
,
SAR
13.3629
13.3481

5 foreign banks will be granted licenses to workin Ethiopia.

 

national bank

 

National Bank announced that about five foreign Banks would be licensed to enter the country and provide Banking services, the Bank stressed that Ethiopian local Banks should prepare themselves for the coming change and review their previous strategies.

National Bank of Ethiopia Financial Institutions Sector Deputy Governor, Mr. Solomon Sadha during his meeting with EPD; disclosed that along with strengthening local financial institutions, National Bank is making efforts to bring foreign banks into the country.

Mr. Solomon expressed that their bureau is taking fast action on revising the previous decree and collecting inputs from donors to support the process, most of which is getting completed and will be presented to the public in a few months.

Following this amendment plans are being made to grant licenses to three to five foreign banks in the next five years.

 

Foreign Banks Entrance and its Effect on Indigenous Banks

 

According to the Deputy Governor; building the capacity of local financial institutions very essential so that foreign banks wouldn’t bring a negative effect and drive local banks out of the market, and they indicated that there is a set procedure for this.

Mr.Solomon explained that the institutions should spend two percent of their regular budget on capacity building, which started many years ago and will still be monitored accordingly.

Since the reform, previous procedures might not be implemented as usual said the Deputy Governor, many new things require budget allocation and widely invested work.

“In particular, It is necessary to think from now on who; should work with whom, who will contribute with whom. The banks need to think about how to work in coordination with foreign institutions, how to share capital, knowledge, and technology, and learn from other Banks’ experience.”

Especially it is appropriate to know the leadership and procedures of the board, the way and system of technology use, management, legal frameworks, and human resources management as well.
The Deputy Governor stated that financial institutions should increase their capital to enter this business and revise their previously designed strategies to meet the standards; all matters that take these and other circumstances into consideration should be handled carefully.

In general, Mr. Solomon, in his meeting with the EPD emphasized that banks should build capacity and build their future on technology, even more, make their center of focus on technology growth by learning from other institutions’ experience on the sector.