The National Bank of Ethiopia (NBE) lifted the loan freezing placed since August 2021.
Executives of commercial banks have been given an instruction to resume loan services to all customers.
It is recalled that in a circular addressed to all banks on Friday, October 1, 2021, NBE has issued further exemptions for the following five loan categories.
1. loans to buyers of bank’s foreclosed properties availed for the purpose of ensuring loan recovery
2. inter-bank loan buyout transactions
3. bank staff emergency loans
4. housing loans approved/committed to be provided for employees of companies for the purpose of buying or constructing residential houses (only for committed or approved requests); and
5. loans approved for sesame producers found in Gondar area for the purpose of ensuring timely harvesting of same.
Today, Senior Executives of commercial banks have been given an instruction to resume loan services to all customers in all categories.
(The Reporter)
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