Whereas, the Schengen States of Europe have decided that foreigners plannsts to obtain entry visa of these states;

Whereas, the Bank is cognizant of the fact that free movement of Ethiopian nationals to Schengen States should not be hindered by the decision of the States;

Now, therefore, the Bank has issued these directives pursuant to the authority vested in it by Article 41 of the Monetary and Banking Proclamation No. 83/1994 and Article 8 of the Licensing and Supervision of Insurance Business Proclamation No. 86/1994.