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🇪🇹 EthiopiaBusiness

Ethiopian banks may hold foreign investors’ assets

By , based on Addis Fortune

Ethiopian banks may hold foreign investors’ assets

Ethiopian commercial banks may serve as custodians for foreign portfolio investors without creating separate subsidiaries. Capital market regulators describe the measure as a temporary exemption from a directive by the National Bank of Ethiopia, according to Addis Fortune.

Capital market regulators describe the measure as a temporary exemption from a directive by the NBE, Ethiopia’s central bank, Addis Fortune reports. Commercial banks could thus provide custody for portfolio assets held by foreign investors without creating separate subsidiaries.

The measure comes as capital market authorities seek to regulate the custody of foreign investors’ assets, according to Addis Fortune.

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