Ethiopia: Central Bank 'Manifesto' Puzzles Industry

The draft guideline is intended to discipline rogues in the industry but it will do little to end the ForEx shortage.

The financial industry is bewildered with a new central bank "manifesto" authorities are calling a "guideline" setting out detailed prescriptions on how to restore good governance and fight rent seeking behaviours in banks, insurance companies and microfinance institutions. They have instructed senior executives of these entities to submit action plans on how to ensure good corporate governance and the clean conduct of business.

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