The long-standing saga that has held foreign nationals of Ethiopian origin who are shareholders in financial institutions in limbo for about two years was resolved after the National Bank of Ethiopia issued a guideline effective from 28 October 2016.
The guideline instructs financial institutions to pay dividends up until 30 June 2016, buy their own shares at par value, keep them in temporary asset account, sell them back in auction and transfer any proceeds above par values to the treasury.
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