Directive No. SBB/13/1996

NAMING OF OFFICERS

1. Issuing Authority

These directives are issued by the National Bank of Ethiopia pursuant to the

authority vested in it by Article 41 of the Monetary and Banking Proclamation

No. 83/1994 and by article 36 of the Licensing and Supervision of Banking

Business Proclamation No. 84/1994.

2. Designation

Unless a General Manager, Chief Executive or Principal Officer of a bank is

member of the Board of Directors of the bank, it is prohibited to designate him as a Managing director.

3. Effective date

These Directives shall enter into force as of 8th day of April 1996