Ethiopia: Financial Consumer Protection (Directive No. FCP/01/2020) including non-discrimination requirements

On 25 February 2021, the Financial Consumer Protection Directive No. FCP/01/2020 entered into force. The directive mandates that financial services providers must treat all financial consumers equitably, respectfully, honestly, and fairly throughout their relationship. They shall not discriminate against any financial consumer or security provider based on personal characteristics or affiliations unless required or permitted by law. Additionally, providers must give special attention and priority to the particular needs and difficulties faced by vulnerable, socially, and economically marginalized consumer groups, such as inexperienced consumers and the physically disabled.