Call to Relinquish Shareholdings of Foreign Nationals of Ethiopian Origin

The National Bank of Ethiopia Guideline No FIS/01/2016 issued on November 01, 2016 requires all foreign National of Ethiopian Origin, who are Shareholders of the Bank to relinquish their shareholdings and return their Share Certificates to the Bank against payment of the par-value of the paid up shares and the dividends accounted thereof until June 30, 2016.

Therefore, all Foreign National Shareholders of Nib International Bank, who had been Ethiopian national before acquiring a Foreign Nationality, are kindly advised to return your share certificates to the Bank within the next 60 consecutive days starting from November 8th, 2016 and collect the value of the paid-up shares and dividend accounted thereof until June 30, 2016 in Ethiopia Birr.

Those shares whose value was paid by Shareholder of Foreign National of Ethiopian Origin without receiving share certificates in return shall be deemed surrendered to the Bank, effective from deadline set above.

All share certificates held by Shareholders of Foreign Nationals of Ethiopian Origin not surrendered after the deadline shall be deemed cancelled. However, holder of such cancelled shares may collect at anytime the par-value of the share investment and its dividend due until 30th June, 2016.

Notwithstanding the above statements, a Foreign National of Ethiopian Origin who continues to hold a share in Nib International Bank by intentionally disguising the change of holder Ethiopian Nationality by any means may not be entitled to receive the par-value reimbursement of this paid up shares and the dividend accrued thereof.

 

For any further information

Please contact through the following address,

Accounts and Finance Department

Nib International Bank S.C

5th Floor of DembleCity CenterBuilding

Tel-251-115-541-126

Addis Ababa