Whereas, Foreign Nationals of Ethiopian Origin have been allowed to invest in the Ethiopian banking sector;

Whereas, there is a need to put in place implementation modality for allowing Foreign Nationals of Ethiopian Origin to invest in a bank;

Now, therefore, in accordance with article 9(4) of Banking (Amended) Business Proclamation No.592/2008 as amended by Banking Business (Amendment) 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.