Tag Archives: Banking Regulation

Eritrea: A Prudent Remedy

The ultimate objective of the mandatory financial regulations is to strengthen the national economy and thereby secure the interests and rights of the population at large

Nip in the bud or Heavy Handed? Government has taken temporary stoppage of commercial activities for 450 business enterprises in Asmara for failing to conduct their business affairs in accordance with the new mandatory financial regulations.


All substantive commercial transactions must adhere to relevant Bank regulations. This is not only normative but it has also been stipulated in publicly announced, explicit, regulations.

As it will be recalled, the old Nakfa Currency Notes in circulation were redeemed and new Nakfa Currency Notes introduced two years ago; in December 2015. Continue reading Eritrea: A Prudent Remedy