Mission, Vision, Values - National Bank

Mission, Vision, Values

The vision, mission and goals of the National Bank of Ethiopia has emanated from the overall vision of the government which is “to see a country, wherein democracy and good governance are prevailed upon the mutual consent and involvement of its people, wherein social justice is reigned, and wherein poverty reduced and income of the citizens reach to a middle economic level"

VISION OF THE BANK

To be one of the strongest and most reputable central banks in Africa.

MISSION OF THE BANK

To maintain price and exchange rate stability, to foster a sound financial system and undertake such other functions as are conducive to the economic growth of Ethiopia.

VALUES OF THE BANK

Core value

Promoting financial and monetary discipline
Agricultural and Industrial Development Bank (AIDB)

1.Integrity
2.Neatness and good appearance
3.Punctuality
4.Team work sprit

Operational Values

1.Commitment to Excellence Service
2.Confidentiality
3.Continuous Improvement
4.Transparency
5.Accountability

Organizational Strategic Values

Pursuit of Excellence and Professionalism

GOALS OF THE BANK

Goal 1: Carry out extensive and sound institutional transformation tasks.
Goal 2: Maintain price and exchange rate stability.
Goal 3: Maintain adequate international reserves.
Goal 4: Improve the soundness of the financial system.
Goal 5: Play a decisive role in economic research and policy advice to the Government.
Goal 6: Create efficient Payment System.
Goal 7: Improve the currency management of the Bank.

OBJECTIVES OF THE BANK

Sample Text Objectives of Goal 1

1.Identify and conduct Quick wins I activities on continuous basis.
2.Implement BPR studies conducted and ensure their sustainability.
3.Review and update the SPM document of the Bank every two years.
4.In 2005/06, devise a result based scheme that measures the performance evaluation of the work units and individual employees.
5.Identify and have adequate change agents.
6.Improve service delivery of the Bank.
7.Strength IT service and enhance computerization process of the Bank.
8.Enhance the capacity of the Bank.

Objectives of Goal 2

1.Contain annual core inflation (non-food inflation) within a single digit.
2.Maintain the exchange rate of Birr close to the equilibrium exchange rate.
3.Contain the premium between the official and parallel market exchange rate to the level below 1.5 percent.
4.Maintain the premium of respective buying and selling rates of the USD between the NBE and commercial banks below 2 percent.

Objectives of Goal 3

1.Ensure that the international reserves of the country is not less than three and half months of imports of goods and non-factor services.
2.Manage the country’s Foreign Exchange Reserve efficiently and effectively.
3.Ensure and manage the effective use of the country’s Foreign Exchange.

Objectives of Goal 4

1.Ensure the average level of NPLs of commercial banks is reduced to below 15 percent.
2.Conduct effective on site inspection of banks.
3.Conduct effective on site inspection of insurance companies.
4.Conduct effective on site inspection of micro finance institutions.
5.Issue seven new directives within the SPM period.
6.Amend the existing directives/policies.
7.Ensure systematic risk management framework for each bank.
8.Introduce CAMEL rating of banks.

Objectives of Goal 5

1.Finalize the Ethiopian macro econometric model and start its application
2.Strengthen the Bank’s research and policy advisory capabilities and the dissemination of its findings in terms of published research papers and policy discussion forums by 100% each from 4 and 2 to 8 and 4 respectively.

Objectives of Goal 6

1.Create a National Payment System framework.
2.Conduct structural reforms on the existing payment systems.

Objectives of Goal 7

1.Ensure the availability and distribution of the Birr notes and coins.
2.Ensure the automatic provision of Birr notes exchange services
3.Increase the daily note sorting and verification capacity of the bank from the existing Birr 650,000 pcs per day by 60%.
4.Increase the note destruction capacity of the Bank from the existing Birr 700,000 pcs per day by 30%.
5.Assess counterfeiting situations.

Vision of the bank to one of the Strongest and

most Reputable Central Bank in Africa

The National Bank of Ethiopia was established in 1963 by proclamation 206 of 1963 and began operation in January 1964. Prior to this proclamation, the Bank used to carry out dual activities, i.e. commercial banking and central banking.

P.O.Box: 5550
Tel: +251 115 517 430
E-mail:nbeinfo@nbe.gov.et
Fax: +251 115 514 588