National Bank of Ethiopia Profile

About Naitonal Bank of Ethiopia

Establishment: Founded in 1906 as the Bank of Abyssinia, later renamed the Bank of Ethiopia in 1931.

Central Bank Formation: In 1943, the State Bank of Ethiopia became the Central Bank.

Legislation: The National Bank of Ethiopia was officially established by Proclamation 206 of 1963.

Transformation: Underwent restructuring in 2008 with the enactment of Proclamation No. 591, strengthening regulatory and supervisory roles.

Modernization: Introduced financial innovations such as mobile banking, internet banking, and digital finance to enhance financial inclusion.

Liberalization: Government decision to liberalize the financial sector, allowing foreign investment in the banking industry.

Vision: Aims to be a trusted guardian of Ethiopia's monetary and financial systems.

Mission: Committed to maintaining price and external stability while ensuring a safe, modern, and inclusive financial system.

Roles and Functions: Administers monetary policy, issues banknotes and coins, acts as banker for the government, supervises the banking sector, manages exchange rates and reserves, and conducts economic research.

Mandates: Regulates interest rates, formulates and implements exchange rate policies, licenses and supervises financial institutions, provides refinancing facilities, and more.

Promotion of Services: Encourages the dissemination of banking and insurance services throughout Ethiopia.

International Representation: Represents Ethiopia in international monetary institutions and adheres to international agreements.

Stewardship: Executes customary central bank powers and activities.

Address and Contact Information

Head Office: Around Biherawi, Addis Ababa, Ethiopia

Phone: +251 115-175271

Email: compliantoffice@nbe.gov.et

Board of Directors

1. H.E. Ambassador Girma Birru – Chairman
2. H.E. Mamo E. Mihretu – Member
3. H.E. Dr. Fitsum Assefa – Member
4. H.E. Dr. Eyob Tekalign – Member
5. H.E. Yasmin Wohabrebbi – Member
6. Ato. Fikadu Digafe – Member
7. Ato. Gebreyesus Guntie – Secretary

Executive Management Team

1. H.E. Mamo E. Mihretu – Governor
2. Ato. Fikadu Digafe - V/Governor and Chief Economist
3. Ato. Solomon Desta- V/Governor, Financial Institutions Supervision
4. Ato. Eyob Gebreyesus - V/Governor, Corporate Service
5. Habtamu Workineh - Director, External Economic Analysis and International Relations Directorate
6. Zelalem Abera - Director, Procurement Service Management Directorate
7. Woyenshet Zeberga - Director, Monetary and Financial Analysis Directorate
8. Yenehassab Tadesse - Director, Foreign Exchange Monitoring and Reserve Management Directoriate
9. Zemzem Ahmed - Director, Economic Modeling and Statistical Analysis Directorate
10. Workabeba Bahiru - Director, Human Resources Management Directorate
11. Sintayehu Desalegn - Acting Director, Micro-Finance Institutions Supervision Directorate
12. Temesegen Zeleke - Director, Financial Inclusion Secretariat
13. Abebe Senbete - Director, Currency Management Directorate
14. Kassahun Yohanes - Acting Director, Ethiopian Institute of Financial Studies
15. Gebeyaw Takele - Director, Projects Management Office
16. Merema Kamil - Director, Corporate Finance Directorate
17. Frezer Ayalew - Director, Bank Supervision Directorate
18. Mesfin Getachew - Director, Legal Service Directorate
19. Befkadu Gashaw - Director, Domestic Economic Analysis and Publication Directorate
20. Wondimeneh Asrat - Director, Internal Audit and Risk Management Directorate
21. Eyasu Teshome - Director, Engineering, Property, and Transport Services Management Directorate
22. Muhidin Shifa - Acting Director, Financial Consumer Protection and Education Directorate
23. Wondewosen Tsegaw - Director, Information Systems Management Directorate
24. Belay Tulu - Director, Insurance Supervision Directorate
25. Solomon Damtew - Director, Payment and Settlement Systems Directorate

Annual Reports

Please visit https://nbe.gov.et/publications-statistics/statistics/annual-report/