Whereas, no one shall obtain any kind of benefit from an illegal act and it becomes necessary to establish a legal framework that prevents and suppresses the detrimental effect of the economic crimes on the economy of the country;

Whereas, it is essential to ensure the promulgation of comprehensive asset recovery laws for all kinds of crimes generating proceeds that cover asset identification, investigation, freezing, seizure, confiscation and management, as the existing laws outlined in different proclamations lack sufficient provisions to adequately address the fundamental legal and practical issues;

Whereas, it becomes necessary to issue the law as unexplained asset has a negative impact on the country’s tax system, foreign currency, financial flow, foreign direct investment, and the existing legal framework lacks the possibility of preventing and suppressing unexplained wealth as the applicability is only limited to public servants and public organization employees;

Whereas, it is necessary to establish a legal framework that not only aligns with the standards set forth in international agreements ratified by Ethiopia on asset recovery and management but also facilitates the practical implementation of these standards;

Now, therefore, in accordance with Article 55 (1) of the Constitution of the Federal Democratic Republic of Ethiopia, it is hereby proclaimed as follows.