The House of Peoples’ Representatives (Ethiopian Parliament), in its second urgent session today, has approved draft proclamations of banking. The unanimously approved banking proclamation will encourage Ethiopian descent with foreign nationality to take part and contribute their role in the country’s socio-economic development. In a related development the Parliament has also approved a proclamation on customs and provision of compensation for evading land. The new customs proclamation unanimously approved today will avoid the bottlenecks of the customs administration and accelerate simple and time efficient service delivery for customers. The newly approved proclamation enables people to relocate from their land to get proportional replacement of land, compensation and rehabilitation fund.

Source: Ethiopian News March 20, 2026 22:14 UTC