National Bank of Ethiopia

The National Bank of Ethiopia (English National Bank of Ethiopia, abbreviation NBE) is the central bank of the African country Ethiopia and is located in the capital Addis Ababa.

The National Bank of Ethiopia was founded on 15 February 1906 as the first bank in the kingdom of Abyssinia by Emperor Menelik II. It was then called the State Bank of Ethiopia and was a private bank. On 15 April 1943, the State Bank of Ethiopia was officially to the Ethiopian Central Bank.

It was renamed in 1963 by proclamation in the National Bank of Ethiopia in January 1964 and took its business to. Prior to the proclamation, the Bank was active both as a commercial bank and a central bank. The proclamation increased the reserves of the institution and led to extensive administrative autonomy and legal autonomy.

After the proclamation of the National Bank were the following tasks:

• Regulate, the availability and interest of money and credit;
• Managing the foreign exchange reserves of the country;
• Licensing of banks, administration of the reserves of commercial banks and provide them with loans;

The National Bank has been completely re-organized in 1994 and now trades in the currency Birr.