Ethiopia - Apply for Licensing and Supervision of Banking Business (Asset Classification and Provisioning)

Advertisement

Procedure

Apply In-Person:

1. To Apply for Licensing and Supervision of Banking Business (Asset Classification and Provisioning), the applicant has to approach National Bank of Ethiopia contact link
2. Applicant has to get the form from the respective officer.
3. Applicant has to fill-in all the necessary details in the application form.
4. Make sure that the applicant has to attach the documents mentioned in the “Required Documents” section of this page.
5. Applicant has to attach the photocopies along with the application form.
6. Submit the completed form and the necessary documents to the officer.
7. The applicant has to pay the Investigation fee of Birr 300 and Licensing fee of Birr 250.
8. The authority officer will review the application and process the application.
9. Once the process is completed, the license is given to the applicant within the stipulated processing period of time.

Advertisement

Required Documents

• Evidence for paid up capital which includes certificate of deposit in a blocked subscription account and evidence for valuation of contribution in kind
• Names and occupation
• Feasibility study document
• Projection of financial statements for first three years of operation showing major categories of loans by economic sectors and liabilities.
• Disclosure of the identity of shareholders who have acquired more than ten percent of capital stock, indicating their names, nationality, number and value of shares held.
• Separate cost of vault, equipment, furniture and fixture purchased or leased
• Authenticated ownership certificate
• Description of any purchase or proposed purchase goods and service
• Proposal of insurance coverage and extent of such coverage
• Curriculum vitae
• Duly completed application form

Office Locations & Contacts

National Bank of Ethiopia
P.O Box: 5550
Tel: +251 115 517 430
E-mail: [email protected]
Fax: +251 115 514 588
Contact details link
Location details link

Eligibility

• The applicant must above 30 years of age
• Members of board of directors shall have adequate managerial experience in business and or similar organization
• A minimum completion of high school education with ability to read and grasp reports, especially financial statement

Fees

• A company applying to undertake supervision banking business shall pay investigation fee of birr 300. That is to be paid at the time of lodging an application and pay the license fee of 250 birr.

Validity

• Validity of the license is for 1 year.

Documents to Use

Guidelines link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• Processing time of this procedure takes up to 30 days.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external 
websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicant must complete the application form before submitting. Incomplete applications will not be accepted.
• Applicant must provide genuine information while applying for this procedure.

Required Information

• Name
• Address
• Contact number
• Email
• Gender
• Age

Need for the Document

• The purpose of supervision of banking business licence, provides the service of analyse the capital of a bank consists of issued and fully paid in shares, legal reserves and other reserves and other reserves to be approved by the national bank of Ethiopia and the minimum capital requirement shall be applied to a bank on a consolidated basis, including subsidiaries and affiliates engaged in banking and financial activities.

Information which might help

Enter other information which might help

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

link

Others

More information which might help people.