Key takeaways
- NBE published Directive EPD/01/2026 on November 9, covering interest-free open-market operations and standing facilities.
- The framework addresses central-bank liquidity management compatible with interest-free banking.
- Publication does not confirm issuance of Islamic Treasury bills or sovereign Sukuk.
Why it matters
- Interest-free institutions require alternatives to conventional interest-bearing monetary instruments.
- Analysis: A dedicated framework could broaden access to central-bank liquidity tools, subject to implementation.
- Treasury issuance requires separate structures and regulatory arrangements.
What to watch
- Operational notices, eligible instruments and implementation arrangements.
- Any separate official announcement on Islamic Treasury securities.
Source: National Bank of Ethiopia; The Africans Time | 9–10 November 2026 | Original source | Supporting report
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