National Bank of Ethiopia - Directives No. SBB-57-2014 - Corporate Governance for Banks, Insurers, & Micro Finance Institutions (MFIs)

Sound corporate governance plays a vital role in maintaining the safety and soundness of the financial system in general and banking, insurance, and micro-finance sectors in particular. It gives way to balanced risk taking and enhances business prudence, prosperity and corporate accountability with the ultimate objective of realizing long term shareholders value and other stakeholders interest. The National Bank of Ethiopia's (NBE) Directives No. SBB-57-2014 provides corporate governance guidelines to ensure banks, insurers, and micro finance institutions (MFIs) are soundly and prudently managed and directed.

The directives cover the following topics:

1. Scope of Application
2. Shareholders
3. Board Nomination Committee and Appointment
4. Board Size and Composition
5. Board Appointment
6. Board Qualifications and Trainings
7. Board Meetings
8. Responsibilities of the Board
9. Roles and Responsibilities of Chairperson and Secretary
10. Authority of Board
11. Senior Management Responsibilities
12. Disclosures
13. Prohibition

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National Bank of Ethiopia
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