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Money laundering

This tag is associated with 3 posts

PROCLAMATION No. 780-2013 A PROCLAMATION ON PREVENTION AND SUPPRESSION OF MONEY LAUNDERING AND FINANCING OF TERRORISM


PROCLAMATION No. 780/2013 A PROCLAMATION ON PREVENTION AND SUPPRESSION OF MONEY LAUNDERING AND FINANCING OF TERRORISM WHEREAS, money laundering and financing of terrorism not only threaten security but also compromise the stability, transparency soundness and efficiency of the financial system; WHEREAS, the effort to combat money laundering and financing of terrorism is being undertaken internationally … Continue reading

PROCLAMATION NO. 657/2009. A PROCLAMATION ON PREVENTION AND SUPPRESSION OF MONEY LAUNDERING AND THE FINANCING OF TERRORISM


Brief note This law compels banking and financial institutions and other persons referred to as ‘accountable persons’ to disclose information they obtained from their customers. This in effect significantly changes the law of secrecy in Ethiopia. Before the enactment of this law, Ethiopian civil and criminal law provides protection against the disclosure of confidential information … Continue reading

LICENSING AND SUPERVISION OF BANKING BUSINESS -Ethiopian National Bank Directives « Ethiopian Legal Breif


Directives No. SBB/46/2010 Customer Due Diligence of Banks WHEREAS, sound know your customer policies and procedures constitute an essential part of internal control and risk management aspects of banks; WHEREAS, there is a need to strengthen internal control and risk management systems of banks to prevent them from exposure to undue reputational, operational, legal and … Continue reading

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