Federal Democratic Republic of Ethiopia - Proclamation No. 718-2011 - National Payment System


The national payment system is an essential component of the financial infrastructure of the country, whose safety, security and efficiency is critical to ensure financial stability, economic growth and financial inclusiveness. The Federal Democratic Republic of Ethiopia's Proclamation No. 718-2011 provides rules and regulations for the national payment system so as to ensure its safety, security and efficiency.

The proclamation covers the following topics:

1. Scope of Application
2. Powers and Duties of the National Bank, and Issuance of Authorization
3. Settlement, Netting and Finality
4. Electronic Fund Transfer
5. Regulation and Oversight
6. Service Charges
7. Settlement of Disputes
8. National Payment System Council
9. Protection for Acts Done in Good Faith
10. Infringements and Administrative Measures
11. Offenses and Penalties
12. Transitory Provisions
13. Power to Issue Regulation and Directive

Document Details

Document Type: 
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Date of Document: 
Monday, July 18, 2011
Document Authors: 
Federal Democratic Republic of Ethiopia
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