NBE Rejects Global Bank's President-Nominee Amid Liquidity Probe
Ethiopia's central bank blocked Global Bank's nominee for president, ruling the candidate fails NBE requirements — as a probe into hundreds of millions of birr in irregular withdrawals continues.
The National Bank of Ethiopia (NBE) has rejected Global Bank's nominee for the position of bank president, ruling that the candidate "does not fulfil the requirements stipulated under NBE laws."
In a letter to Global Bank's board, the central bank's head of licensing, Gemechis Dugasa, directed the board to put forward a different candidate for the top job.
The move comes amid a liquidity investigation at the bank. The bank's former president, Tesfaye Boru (PhD), was suspended in the wake of a probe into hundreds of millions of birr in irregular withdrawals reportedly tied to a single time-deposit account.
The rejection underscores the tighter grip the NBE — under Governor Eyob Tekalign (PhD) — is keeping on governance and fit-and-proper standards across Ethiopia's fast-growing private banking sector.
Source: reporting by The Reporter Ethiopia. BinaSmart summarises verified public business news for Ethiopia — buildings, banking, construction and technology — in Amharic and English.
🏢 ህንፃ አለዎት?
BinaSmart — ሙሉ የህንፃ አስተዳደር ሲስተም በ24 ሰዓት።