Commercial banks urged Officials of the National Bank of Ethiopia (NBE) to amend the mandatory rule, which demands financial institutions invest one percent of their outstanding credit on a bond issued to support the Development Bank of Ethiopia (DBE).
https://www.thereporterethiopia.com/article/banks-call-amendment-mandatory-bond
The issue of mandatory bond purchases recently issued by NBE faces a challenge from all banks. With their peculiar nature, the matter becomes much serious for full-fledged interest free banks. Such kind of issues can also be converted to opportunity to shape up the future of interest free banking/finance in the country. This can only be possible when we try to bring a solution for the problem at hand. We should not leave the matter only to NBE. We should try showing alternative Sharia compliant mechanisms to them. As you well know, one of the major objectives of EIFFPA is to guide policy makers on effective ways of practicing IFF in a way to benefit the economic development of the country. Hence, lets share our ideas on the subject on this channel.