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: