cbe

USD
124.0086
126.4888
,
GBP
152.3866
155.4343
,
EUR
128.3365
130.9032
,
CHF
134.1436
136.8265
,
SEK
11.0023
11.2223
,
NOK
10.7134
10.9276
,
DKK
16.8993
17.2373
,
DJF
,
JPY
0.7759
0.7914
,
CAD
84.628
86.3206
,
SAR
33.0073
33.6675
,
AED
33.7659
34.4412
,
INR
,
KES
,
AUD
75.3049
76.811
,
ZAR
,
CNY
16.6728
17.0063
,
KWD
394.889
402.7867

awash

USD
124.9998
127.4998
,
GBP
153.3074
156.3735
,
EUR
135.5371
138.2478
,
JPY
0.7393
0.7541
,
SAR
30.0824
30.684
,
AED
30.7258
31.3403
,
CAD
81.5563
83.1874
,
CHF
135.5787
138.2903
,
NOK
10.1355
10.3382
,
DKK
16.4011
16.7291
,
SEK
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

abyssinia

USD
124.9695
127.4689
,
GBP
155.2371
158.3418
,
EUR
134.6304
137.323
,
AED
34.0275
34.7081
,
CHF
137.9507
140.7097
,
SEK
11.465
11.6943
,
NOK
11.1531
11.3762
,
CAD
87.2631
89.0084
,
SAR
33.3208
33.9872
,
CNY
17.1515
17.4945

abay

USD
125.2046
127.7087
,
GBP
155.9298
159.0484
,
EUR
129.9373
132.5361
,
AED
34.085
34.7667
,
ZAR
6.788
6.9238
,
SAR
33.3817
34.0493
,
JPY
0.8156
0.8319
,
CHF
137.4213
140.1698
,
AUD
78.6034
80.1755
,
CNY
17.13
17.4726

zemen

CAD
87.5705
89.3219
,
EUR
135.439
138.1478
,
GBP
156.3973
159.5252
,
SEK
11.5817
11.8133
,
USD
125.208
127.7122

buna

USD
125.0186
127.519
,
EUR
135.1011
137.8031
,
GBP
153.5302
156.6008
,
AED
33.3801
34.0477
,
SAR
32.6651
33.3184
,
CAD
85.5051
87.2152
,
AUD
64.239
65.5238
,
JPY
0.6597
0.6729

nib

USD
124.6005
127.0925
,
GBP
153.6191
156.6915
,
EUR
129.4954
132.0853
,
CHF
137.0215
139.7619
,
CAD
86.5973
88.3292
,
AED
33.9234
34.6018
,
SAR
33.2113
33.8755

berhan

USD
125.0167
127.517
,
EUR
135.4641
138.1734
,
GBP
157.2925
160.4384
,
CAD
87.1682
88.9116
,
AED
34.0348
34.7155
,
CNY
17.1075
17.4497

wegagen

dgb

USD
124.9495
127.4485
,
EUR
134.7765
137.4721
,
GBP
153.4114
156.4796
,
CHF
130.8214
133.4378
,
SAR
29.9468
30.5457
,
AED
36.7329
37.4675
,
CAD
79.1617
80.7449

enat

USD
125.3568
127.8639
,
EUR
135.9508
138.6698
,
GBP
155.5562
158.6673

ahadu

USD
125.0001
127.5001
,
GBP
154.3672
157.4545
,
EUR
135.5371
138.2478
,
CAD
58.8603
61.8033
,
SAR
21.7111
22.7967
,
AED
22.1751
23.2839

addis

EUR
135.3703
138.0777
,
GBP
155.388
158.4958
,
USD
125.055
127.5561
,
CHF
137.7713
140.5267
,
JPY
0.7998
0.8158

dashen

USD
125.0915
127.5933
,
EUR
135.6368
138.3496
,
GBP
153.784
156.8597
,
CAD
81.8096
83.4457
,
AED
30.8208
31.4372
,
SAR
30.1758
30.7794
,
CNY
15.6809
15.9945

oromia

USD
125.0562
127.5573
,
GBP
155.745
158.8599
,
EUR
129.8208
132.4173
,
CHF
137.0779
139.8195
,
SAR
33.3465
34.0134
,
AED
34.0456
34.7265

lion

USD
125.0988
127.6008
,
GBP
155.2902
158.396
,
EUR
133.6835
136.3572

developmentbank

USD
124.983
127.4827
,
GBP
154.504
157.5941
,
EUR
128.97
131.5494
,
CHF
136.9977
139.7377
,
SEK
11.446
11.6749
,
NOK
11.1308
11.3534
,
DKK
17.2929
17.6388
,
DJF
0.7
0.714
,
JPY
0.8212
0.8376
,
CAD
87.1447
88.8876
,
SAR
33.327
33.9936
,
AED
34.0256
34.7062
,
INR
1.4392
1.468
,
KES
0.9659
0.9852
,
AUD
78.3893
79.9571
,
SDR
162.8528
166.1099
,
ZAR
6.765
6.9003
,
CNY
17.1029
17.445
,
KWD
404.495
412.5849

coop

USD
124.8894
127.3872
,
GBP
138.0252
140.7857
,
EUR
135.1129
137.8152
,
AED
32.994
33.6538
,
SAR
32.2674
32.9128

gadaa

USD
125.9402
128.459
,
GBP
157.65
160.803
,
EUR
137.1637
139.907
,
AED
30.607
31.2191
,
SAR
29.9522
30.5512
,
CHF
127.1777
129.7213

hijra

USD
126.5
129
,
EUR
133.8
136.5
,
GBP
153.9
157
,
SAR
33.8
34.5
,
AED
34.5
35.2

amhara

USD
124.9
127.398
,
GBP
155.4755
158.585
,
EUR
128.8468
131.4238
,
CAD
86.893
88.6309
,
AED
34.0077
34.6878
,
SAR
33.2756
33.9411

tsehay

USD
125.9729
128.4923
,
GBP
154.0817
157.1634
,
EUR
130.0158
132.6161
,
CAD
86.9537
88.6927
,
SAR
33.3311
33.9977
,
AED
34.0606
34.7419
,
AED

tsedey

USD
125.3753
127.8828
,
EUR
129.3748
131.9623
,
GBP
154.989
158.0888
,
AED
34.1325
34.8151
,
CHF
137.4277
140.1763
,
SEK
11.4819
11.7115
,
NOK
11.1657
11.389
,
DKK
17.3472
17.6942
,
DJF
0.7022
0.7162
,
INR
1.4438
1.4726
,
JPY
0.8238
0.8402
,
CAD
87.4183
89.1667
,
SAR
33.4316
34.1003
,
ZAR
6.7862
6.9219
,
CNY
17.1566
17.4997
,
KWD
405.7647
413.88
,
KES
0.9689
0.9883

siinqee

USD
124.9905
127.4903
,
EUR
137.9979
140.7579
,
GBP
159.6549
162.848
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
32.7831
33.4388

hibret

USD
124.91
127.4082
,
EUR
136.1399
138.8627
,
GBP
153.0143
156.0746
,
CHF
136.9177
139.656

gohbetoch

USD
125.4705
127.9799
,
EUR
129.5533
132.1444
,
GBP
151.1518
154.1748
,
AED
31.0391
31.6599

nbe

JPY
0.8181
0.8263
,
KWD
406.656
410.7225
,
CNY
17.183
17.3549
,
ZAR
6.809
6.8771
,
XDR
163.5968
165.2328
,
EUR
130.3399
131.6433
,
AED
34.1906
34.5326
,
SAR
33.4851
33.8199
,
AUD
78.847
79.6354
,
CAD
87.8638
88.7424
,
USD
125.5925
126.6171
,
KES
0.9698
0.9989
,
INR
1.445
1.4595
,
DJF
0.7034
0.7245
,
DKK
17.4754
17.6502
,
NOK
11.1555
11.2671
,
SEK
11.5525
11.668
,
CHF
137.8471
139.2256
,
GBP
156.4129
157.977

binance

USDT
146.45
145.8

finance minister to strengthen the required criteria to establish Banks  

 

 

finance minister

 

 

The Ethiopian finance minister has announced that the criteria which are required during the establishment and launching of new Banks in Ethiopia will face some changes and add more strengthening policies to grow the sector, the Minister Ato. Ahmed Shide Explained that the change is in consideration because Ethiopia is having a high numbered of upcoming new Banks The minister made it clear that most of the Banks are joining the market holding a very similar vision and work practice and within the upcoming change of regulation Banks which share a similar purpose shall consider to merge and work for there sustainable existence on the sector.

 

He also advised banks to think about mergers, since the requirements for establishing a bank in Ethiopia are getting wider and stronger, banks with the same purpose should prepare to merge and work, said Finance Minister Ahmed Shide.

 

The finance minister Mr. Ahmed, in his appearance and honor speech he gave at the inauguration program of Ramis Bank ( the fourth bank established to provide completely interest-free banking services in Ethiopia.) made a bold point and explained that the requirements for establishing banks are getting stronger and the government is opening up the financial sector to foreign companies, and the local Banks should be ready for the competition that awaits them.

The Minister stated that for banks to strengthen themselves, one option is for banks with similar objectives to work together and strengthen each other’s aim.

 

What is the current finance minister’s requirement on Bank establishment?

 

Currently, the main requirement for establishing a bank in Ethiopia is the amount of capital. According to the National Bank of Ethiopia law issued a year ago, the paid-up capital required to establish a bank was decided to be five billion Ethiopian birr.

 

The Deputy Governor of the National Bank of Ethiopia Mr. Solomon who was also present at the opening ceremony stated that even if progress is being made in Ethiopia’s interest-free banking service, only 40 percent of the total deposits collected are used for loans, which is a sign that more work needs to be done.

 

According to the Deputy Governor, in the eleventh month of the financial year, the total amount of deposits collected through a window and completely interest-free banks reached 171 billion birr. However, he mentioned that only 40 percent, or 68.8 billion birr was transferred to consumers in the form of loans. The number of interest-free depositors reached 15.60 million.

 

“Only 40 percent was used for loans. We see that 60 percent of this is not provided in the form of finance,” said Mr. Solomon, which still has a long way to go in terms of accessibility, so we need more work in terms of financial knowledge, customer protection, and legal framework.

He pointed out that the National Bank has started various activities, believing that it is necessary to study and implement financial options to fill this gap.

 

Mr. Solomon reminded me that the number of users who took loans from institutions that provide interest-free banking services is only 39.9 thousand. In general, this indicates that banks that offer interest-free services are not lending as many deposits as they have collected.

 

Apart from the banks that are currently providing the service at the window level, nine macro-finance and insurance companies are providing interest-free banking services at the window level, so the number of those providing services in this sector has reached 2, likewise, four insurance companies provide interest-free insurance services in Ethiopia. which has given 48.41 million birr worth of interest-free insurance services only in the previous week

 

Thus, it is said that interest-free banking services and interest-free insurance services have a long way to go in terms of accessibility.

 

According to Mr. Solomon, there is progress in Ethiopia’s interest-free banking service, but only 40 percent of the total deposits are used for loans, which shows that more work needs to be done. In this regard, there is still a lot to be done, but the National Bank of Ethiopia is working to fill this gap.

 

In particular, the deputy governor replayed the given comments regarding the frame work not being enough stating that the framework is under correction and that the national bank is working on the legal framework.

 

Regarding Ramis Bank, Mr.Ahmed, finance minister remained that Ramis Bank which is one of the banks established to provide completely interest-free banking services, shall not only stand its vision only on the country level but on being one of the best servers in East Africa.

 

The Minister of Finance Ato Ahmed stated that the country’s access to finance is growing from time to time and stated that various reforms have been implemented to increase financial inclusion.

 

Among them, he cited as an example the introduction of an independent Shariah-based interest-free banking service. He said that banks that were established to provide interest-free banking services have shown many benefits to the people who were unable to come to the bank because of their faith.

 

In addition to answering the question that has been asked for ages, the launch of this service was also a matter of rights, and the results obtained