SBB/26/01 Establishment of Special Account for Effecting Payments for Coffee Purchase From the Coffee Auction Center

The National Bank of Ethiopia has issued Directive No. SBB/26/2001, effective March 1, 2001, to establish a special account for coffee exporters to make payments to coffee sellers, aiming to prevent issuing cheques without sufficient cover and promote a reliable payment system. This directive requires commercial banks to open a special coffee auction account for coffee exporters, which can only be used to pay coffee sellers for purchases made at the Coffee Auction Center.