Ethiopia: Implemented National Payment System (Amendment) (Proclamation No. 1282/2023) including licensing and authorisation requirements

On 3 February 2023, the National Payment System (Amendment) Proclamation No. 1282/2023 entered into force after being signed by the president and published in the official gazette on the same day. It amended the National Payment System Proclamation No. 718/2011. According to the amended Article 5, no entity other than the National Bank of Ethiopia (NBE) can operate as a payment system operator or issuer of payment instruments without obtaining a licence or authorisation from the NBE. Applicants for licences must undergo thorough inquiries and meet specific criteria, including technical standards, financial status, and consumer interests, to ensure the integrity and reliability of the national payment system.