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The new governor of the National Bank, Mamo Mehretu, is discussing with the heads of financial institutions

The new governor of the National Bank, Mamo Mehretu, is discussing with the heads of financial institutions.

It was stated that the discussion focused on how the bank can work in connection and coordination with the financial institutions.

Ato Mamo mentioned that the National Bank will work to bring about change in the improvement of technology and data centers by increasing the knowledge of the employees.

It was also pointed out that he will focus on supporting institutions that have faced challenges in various regions to start services, opening the bank to foreign investment, and improving payment and banking system regulations.

He emphasized that the National Bank is working independently of the government's interference to make Ethiopia's financial system better.

It was raised in the forum that banks are expected to be competitive when foreign banks enter the country by empowering and enriching themselves with technology.

He pointed out that the financial sector is healthy and in terms of accessibility, there will be further work to be done. He also stated that regulatory work on insurance and non-banking financial institutions will continue.

He also pointed out that the works done in terms of financial inclusion and digital financing are promising.

He said that in the future, the bank will focus on stable price conditions, establishing foreign exchange rates and establishing a healthy financial system.

By Habtamu T/ Selase and Fikremikael Zeede