Requirements for Persons with Significant Influence in a Bank Directives No. SBB 79-2021 (2nd Replacement)

National Bank of Ethiopia

Licensing and Supervision of Banking Business

Requirements for Persons with Significant Influence in a Bank Directives No. SBB/79/2021 (2nd Replacement)

Whereas, ensuring sound practices, stability and long-term institutional success in financial system in general and the banking sector in particular is crucial.

Whereas, public confidence in the financial system depends, among other things, on whether financial institutions including banks are owned, directed and managed by persons who are fit and proper;

Whereas, it is necessary to enhance effectiveness and soundness of governance of banks;

Whereas, there is a need to ensure that the National Bank of Ethiopia exercises its
responsibilities to assess whether banks are soundly and prudently managed and directed;

Now, therefore, in accordance with articles 4(1g&h), 14(4a) and 65 (2) of Banking Business Proclamation No.592/2008 as amended by Proclamation No. 1159/2019, the National Bank of Ethiopia hereby issues these Directives.

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