Whereas, capital goods finance companies’ branch office opening, relocation, and closure activities necessitate sound and prudent practices to ensure the safety and soundness of the companies;

Now, therefore, pursuant to the power vested in it under sub-article 4(4(a)) and 18 (4) of Capital Goods Leasing Business Proclamation No. 103/1998 as Amended by Proclamation No. 807/2013, the National Bank of Ethiopia has issued this Directive.