MFAD/001/2025 – DEMATERIALIZATION OF GOVERNMENT AND NBE SECURITIES DIRECTIVE

The National Bank of Ethiopia has issued a directive (MFAD/001/2025) to dematerialize government and National Bank of Ethiopia (NBE) securities, transitioning from physical paper-based securities to an electronic book-entry form held in a Central Security Depository (CSD). The directive outlines the scope, responsibilities, and procedures for dematerialization, including registration, account management, reconciliation, and data migration, as well as penalties for non-compliance and prohibited practices.