A standard check: NBE unveils new banking system

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National Bank of Ethiopia’s (NBE) long awaited check standardization will be effective as of January 1, 2016. The new system will ensure that bank checks across the country are uniform, enhancing financial security.

According to the NBE, standardized checks are to be used by all financial firms in the country starting from this New Year. The financial regulatory body had initially aimed to introduce the system in 2013, but several issues have delayed implementation by three years.

NBE is expected officially announce the start of standardized checks at a ceremony to be held on Thursday December 31 at Hilton Hotel.