Whereas, Foreign Nationals of Ethiopian Origin or Organizations have been allowed to invest inthe payment instrument issuance and payment system operator businesses in Ethiopia;

Whereas, there is a need to put in place implementation modality for investment by Foreign Nationals of Ethiopian Origin or Organizations in payment instrument issuance and payment operator businesses in Ethiopia;

Now, therefore, in accordance with article 4/2a and article 37/2 of National Payment System Proclamation No.718/2011 and articles 9 (1&2) and 58 of Banking Business (as amended) Proclamation no.1159/2019 and articles 20 (2) and 27 (2) of the National Bank of Ethiopia Establishment (as Amended) Proclamation No. 591/2008, the National Bank of Ethiopia has issued this Directive.