WHEREAS, it is necessary to maintain price stability and ensure sound financial system for the rapid economic growth of Ethiopia; WHEREAS, it is necessary to redefine the powers and functions of the National Bank of Ethiopia to enhance its regulatory competence in line with the contemporary developments in the financial sector; WHEREAS, it is deemed necessary to enhance the credibility, accountability, transparency and governance of the National Bank of Ethiopia in line with international best practice; NOW, THEREFORE, in accordance with Article 55 (1) of the Constitution of the Federal Democratic Republic of Ethiopia, it is hereby proclaimed as follows: