National Bank of Ethiopia
The National Bank of Ethiopia ( English National Bank of Ethiopia , abbreviation NBE ) is the central bank of the African country Ethiopia and is located in the capital Addis Ababa .
The National Bank of Ethiopia was founded on February 15, 1906 as the first bank in the Abyssinian Empire by Emperor Menelik II . It was then called the State Bank of Ethiopia and was a private bank. On April 15, 1943, the State Bank of Ethiopia officially became the Ethiopian Central Bank.
It was renamed the National Bank of Ethiopia by proclamation in 1963 and began operating in January 1964. Before the proclamation, the bank was both a commercial bank and a central bank. The proclamation increased the institution's reserves and led to extensive administrative and legal independence.
After the proclamation, the National Bank was given the following tasks:
- Regulate the supply, availability and interest of money and credit;
- Managing the country's foreign exchange reserves ;
- Licensing banks, managing the reserves of commercial banks and providing them with credit;
The National Bank was completely reorganized in 1994 and now trades in the Birr currency .
literature
- Arnaldo Mauri: The Early Development of Banking in Ethiopia . International Review of Economics. Springer, Vol. 50, No. 4, 2003, pp. 523-543, ISSN 1865-1704
- Arnaldo Mauri: The re-establishment of the national monetary and banking system in Ethiopia, 1941-1963 . The South African Journal of Economic History, Vol. 24, No. 2, 2009, pp. 82-130