National Bank of Ethiopia Bank Corporate Governance Directives No. SBB-71-2019

Licensing and Supervision of Banking Business

Bank Corporate Governance Directives No. SBB/71/2019 (1st Replacement)

Whereas, corporate governance plays a vital role in maintaining the safety and soundness of financial system in general and banking sector in particular;

Whereas, corporate governance gives way to balanced risk taking and enhances business prudence, prosperity and corporate accountability with ultimate objective of realizing long term shareholders’ value, as well as customers’ and other stakeholders’ interest;

Whereas, the National Bank of Ethiopia should ensure whether banks are soundly and prudently managed and directed; Now, therefore, in accordance with articles 3( l )(a), 14 (4b-d), and 59(2) of Banking Business Proclamation No. 592/2008, the National Bank of Ethiopia hereby issues these directives.

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