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Micro-Financing Business Proclamation (No. 626/2009).

Country/Territory
Ethiopia
Document type
Legislation
Date
2009
Source
FAO, FAOLEX
Original source
Federal Negarit Gazeta No. 33, 15th year, 12 May 2009, pp. 4703-4723.
Subject
Agricultural & rural development, Land & soil
Keyword
Agricultural development Credit Financial agricultural measures Business/industry/corporations Smallholders/peasants
Geographical area
Africa, Eastern Africa, Landlocked Developing Nations, Least Developed Countries, Sahel
Abstract

This Act provides rules for the micro-financing business in Ethiopia and for the licensing of institutions providing micro-financing. The main purpose of a micro-financing institutions shall be to collect deposits and extend credit to rural and urban farmers and people engaged in other similar activities as well as micro and small scale rural and urban entrepreneurs, the maximum amount of which may be determined by the National Bank. The Property Mortgaged or Pledged with Banks Proclamation No. 97/1998 and Business Mortgage Proclamation No. 98/1998 shall be applicable with respect to property mortgaged or pledged with micro-financing institutions.

Full text
English

References - Legislation

Amended by

Micro-finance Business (Amendment) Proclamation No. 1164-2019

Legislation | Ethiopia | 2019

Keyword: Agricultural development, Credit, Financial agricultural measures, Business/industry/corporations, Smallholders/peasants

Source: FAO, FAOLEX