WHEREAS, it needs to provide for a legal regime that brings the activities of micro financing institutions within Ethiopia’s monetary and financial policies;
WHEREAS, the monetary and banking laws in force do not provide for micro financing institutions catering’ for the credit needs of peasant farmers and others engaged in small scale production and service activities;
WHEREAS, it has become necessary to legislate on the licensing and supervision of the business of micro financing institutions;
NOW, THEREFORE, in accordance with Article 55(1) of the Constitution of the Federal Democratic Republic of Ethiopia, it is hereby proclaimed as follows:
