The National Bank of Ethiopia (NBE, c ：የኢትዮጵያ ብሔራዊ ባንክ， Oromo: Baankii Biyyooleessa Itoophiyaa) is the central bank of Ethiopia, headquartered in Addis Ababa, the capital of the country. The current president is Mamo Mihretu. The bank promotes financial inclusion and is a member of the Alliance for Financial Inclusion (AFI).

History

Photo taken in 1934

Photo taken in 1934

The National Bank of Ethiopia originated from the Bank of Abyssinia, which was established on February 15, 1906 by the then King Menelik II. At first it was a private bank. Its shares can be traded in Addis Ababa, New York, Paris, London and Vienna. Later branches were opened in Harar (1906), Dre Dawa (1908), Gore (1912), Desi (1920) and other places. The Esso-Djibouti railway was one of the first projects to provide financing for the bank. A transit office was established in Djibouti in 1920.

In 1931, King Haile Selassie I made changes to the banking system. The Abyssinian Bank was liquidated and replaced by the Bank of Ethiopia, which was wholly owned by the state. The original management, staff and premises of the Abyssinian Bank were transferred to the Ethiopian Bank to provide the country with central and commercial banking services. In 1935, Ethiopia was invaded by Italy, and the Ethiopian Bank was closed down.

On April 15, 1943, the State Bank of Ethiopia resumed operations and continued to provide central and commercial banking services. By January 1964, under Proclamation 206 of 1963, and with the assistance of Special Envoy Earl Latham of the United States Department of State, it was changed to its current name to focus on the functions of the Central Bank.

Headquarters Addis Ababa, Ethiopia Coordinates 9 ° 01 ′ 02 ′ N 38 ° 45 ′ 02 ′ E Established February 15, 1906, 118 years ago Owner 100% State Governor Mamo Mihretu Central Bank Ethiopia Currency Ethiopian Birr ETB (ISO 4217) Bank Interest Rate 8.00% Reserve Interest 3.00% Website nbe.gov.et