Whereas, microfinance institutions’ branch and sub-branch office opening, relocation, and closure activities necessitate sound and prudent practices to ensure the safety and soundness of the institutions;

Now, therefore, pursuant to the power vested in it under article 6 (5) and article 34 (2) of Micro financing Business Proclamation No. 626/2009 (as amended by Microfinance Business Proclamation No. 1164/2019), the National Bank of Ethiopia has issued this Directive.