cbe

USD
56.8022
57.9382
,
GBP
67.5744
68.9259
,
EUR
60.4375
61.6463
,
CHF
59.5391
60.7299
,
SEK
4.695
4.7889
,
NOK
4.6818
4.7754
,
DKK
7.3318
7.4784
,
DJF
0.3181
0.3245
,
JPY
0.3324
0.339
,
CAD
37.2237
37.9682
,
SAR
13.7039
13.978
,
AED
13.9956
14.2755
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
33.0232
33.6837
,
SDR
,
ZAR
,
CNY
7.1006
7.2426
,
KWD
175.9743
179.4938

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

GBP
67.5744
68.9259
,
CHF
59.5391
60.7299
,
EUR
60.4375
61.6463
,
USD
56.8022
57.9382
,
CAD
37.2237
37.9682
,
AED
13.9956
14.2755
,
SAR
13.7039
13.978
,
SEK
4.695
4.7889
,
NOK
4.6818
4.7754

abay

USD
56.5376
57.6684
,
EUR
61.7956
63.0315
,
GBP
72.289
73.7348
,
CHF
64.3716
65.659
,
AUD
37.3657
38.113
,
AED
15.3911
15.6989
,
CNY
7.8594
8.0166
,
DKK
8.2877
8.4535
,
DJF
0.3166
0.3229
,
INR
0.6826
0.6963
,
JPY
0.3821
0.3897
,
KES
0.4082
0.4164
,
NOK
5.3785
5.4861
,
SAR
15.0739
15.3754
,
ZAR
3.0306
3.0912
,
SEK
5.5156
5.6259
,
SDR
78.118
79.6804

zemen

CAD
41.1592
41.9824
,
EUR
60.3636
61.5709
,
GBP
70.6939
72.1078
,
SEK
5.1874
5.2911
,
USD
56.7914
57.9272

buna

nib

GBP
67.5744
68.9259
,
EUR
60.4375
61.6463
,
CHF
59.5391
60.7299
,
USD
56.8022
57.9382
,
CAD
37.2237
37.9682
,
AED
13.9956
14.2755
,
SAR
13.7039
13.978

berhan

wegagen

USD
56.704
57.8381
,
GBP
68.416
69.7843
,
EURO
61.4501
62.6791
,
CAD
37.8361
38.5928
,
AUD
33.7923
34.4681
,
CHF
59.9428
61.1417
,
SEK
4.8272
4.9237
,
NOK
4.7926
4.8885
,
DKK
7.4566
7.6057
,
DJF
0.2862
0.324
,
INR
0.6803
0.6939
,
KSH
0.4345
0.4432
,
JPY
0.3389
0.3457
,
SAR
13.6809
13.9545
,
AED
13.9722
14.2516
,
ZAR
3.1723
3.2357
,
CNY
7.0934
7.2353
,
KWD
176.0871
179.6088

dgb

enat

USD
56.8022
57.9382
,
GBP
70.7585
72.1737
,
CHF
62.3446
63.5915
,
SEK
5.1879
5.2917
,
NOK
5.1733
5.2768
,
DKK
8.1014
8.2634
,
KES
0.4271
0.4356
,
JPY
0.3673
0.3746
,
DJF
0.3181
0.3245
,
CAD
41.1312
41.9538
,
AUD
36.4897
37.2195
,
SAR
15.1424
15.4452
,
AED
15.4648
15.7741
,
ZAR
2.9861
3.0458
,
CNY
7.846
8.0029

addis

nbe

dashen

USD
56.8022
57.9382
,
GBP
67.5744
68.9259
,
CHF
59.5391
60.729882
,
SEK
4.695
4.7889
,
NOK
4.6818
4.775436
,
DKK
7.3318
7.478436
,
JPY
0.3324
0.339048
,
CAD
37.2237
37.9682
,
SAR
13.7039
13.977978
,
AED
13.9956
14.275512
,
EUR
60.4375
61.6463
,
DJF
0
0
,
INR
0
0
,
KES
0
0
,
AUD
33.0232
33.6837
,
ZAR
0
0
,
CNY
7.1006
7.2426
,
KWD
175.9743
179.4938
,
AED

oromia

USD
55.4509
56.5599
,
EUR
58.7724
59.9478
,
GBP
64.394
65.6819
,
SAR
13.3775
13.6451
,
CHF
59.3141
60.5004
,
AED
13.662
13.9352

lion

USD
56.7914
57.9272
,
GBP
67.5127
68.863
,
EUR
60.3636
61.5709

coop

USD
56.7329
57.8676
,
GBP
71.9543
73.3934
,
EUR
61.6516
62.8846
,
SAR
15.1247
15.4272
,
AED
15.4472
15.7561

gadaa

USD
56.7914
57.9272
,
GBP
67.5127
68.863
,
EUR
60.3636
61.5709
,
AED
13.9945
14.2744
,
SAR
13.7012
13.9752
,
CHF
59.3909
60.5787

hijra

EUR
61.5525
62.7836
,
USD
56.0843
57.206
,
GBP
71.5355
72.9662
,
AED
15.2681
15.5735
,
CAD
41.9322
42.7708
,
SAR
14.9478
15.2468

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.