In the Pursuit of prompting transparency and protecting the interests of consumers, the NBE is mandate oversee and take intervention measures through

1. Supervision and Regulation of Financial Consumer Protection;
2. Offering Financial Consumers’ Complaints Handling Services; and
3. Promoting Financial consumer education

Financial Consumer Protection refers to the laws, regulations, Supervisions and other measures generally designed to ensure fair and responsible treatment of financial consumers in their uptake and use of financial products and services and their dealings with financial services providers.  

• Build consumers’ trust and confidence in the financial system;
• Ensure that Financial Consumers’ interests are maintained;
• Ensure that financial consumers are treated fairly at all stages of their relationship with financial institutions;
• Promote transparency of financial services so that Financial Consumers made an informed decision;
• Build professional market conduct in the Financial Sector; and
• Enhance financial literacy level of adults, households and MSMEs to improve uptake of financial services.

• Aggressive Selling;
• Misleading Advertising;
• Abusive Loan Collection;
• Unsuitable Products;
• Undue Charges/Debit;                         loss of consumers’                    Financial Exclusion
• Data misuse;                                          trust and confidence on          Financial instability
• Ineffective Disclosure;                          financial system                        Weaken innovation
• Failure of transactions;
• Unfair Terms & conditions;
• Poor transparency; and
• Other misconducts …etc.

Market conduct is based on similar principles as prudential supervision; but requires a totally different mind-set. While the ultimate objectives both types of supervision is promote the interest of consumers and build confidence in the financial system, the application of supervisory approach focuses on consumers in the cases of the former while the latter one focus on the safety of financial institutions

Some of the differences b/n MC Supervision and prudential supervision are listed below:

Under the current financial consumer protection directives of the NBE, the following are financial consumers.

• Individuals
• MSMEs
• Companies and
• Other legal persons

However due the magnitude of power imbalance and bargaining power between financial institutions and their customers  ,the focus of NBE rests with individuals and MSMEs.

Consumers’ Rights:

Consumers are entitled to the following fundamental rights when using financial service providers’ products and services: 

1. Right for information or to be informed;
2. Right to choose;
3. Right to be treated fairly;
4. Right to privacy of their information or data;
5. Right to consumer education; and
6. Right to have redress.

Consumers’ Responsibilities:

In terms of consumer responsibilities, they should, at a minimum fulfil the following duties:

1. Duty of Knowledge and Understanding;
2. Duty to Meet Financial Obligations;
3. Duty to Protect Financial Instruments and Information;
4. Duty to Provide Accurate and Up-to-date Information; and
5. Duty to Report Unethical Practices, Fraud and Error.

a) Contact your financial service providers first

It is important that you first make your complaint to your financial services provider and give them the opportunity to resolve the matter with you.  The NBE will only be able to review your complaint if the matter remains unresolved within 10 business days after your financial services provider has had an opportunity to resolve it with you.

b) file your complaints to the FCPED if

• you are not satisfied with the decisions given by the concerned financial service provider; or
• has not received response from the concerned financial service within 10 business days after of submitting your complaints to the FSP

c) Present and submit the following information and documents

Duly completed application form as indicated in the Annex of this manual (contact information and a statement from the complainant about the nature of their complaint, what they believe they have lost, and what they seek form the FSP to resolve their complaint

• Final written response from their FSP regarding the complaint
• All correspondence between the complainant and the FSP regarding the complaint (letters, emails, texts, etc.)
• Records of any phone calls (date, time, number called, notes from the conversation)
• Bank/Account statements (if applicable)
• Any product or service agreements
• The NBE may reject or may not accept cases from complainants.

The following channels can be used to file  your complaints to NBE’s Financial Consumer Protection and Education Directorate?

• Email to NBE’s FCPED at: compliantoffice@nbe.gov.et
• Phone call at
• in person application to NBE’s FCPED
• Send your case POBOX Number 5550
• others channels specified by the NBE

• The documents or information specified in FAQ 2 above are not submitted or refused to submit
• The case is under court process or has already resolved by courts
• Have been resolved by the NBE so far
• If the case is outside made of the NBE

1. Mobile money
2. Mobile Banking
3. ATM transitions
4. Savings account
5. Credit or Consumer loan
6. Credit card account
7. Fixed-term deposit account
8. Lease agreement
9. Any other NBE-approved financial product or service

• Service downtime
• Transaction failures
• Closure of account
• Dispute on payment out
• Abusive loan enforcement or debt collection
• Excessive fees and charges or charges which have not disclosed in advance
• Mis-selling of financial services
• Fraud in connection with customers’ account
• Any other similar issue in relation financial products and services

In theory these three terms involve different meaning, although in practice they are used Synonymously. While financial Education is a tool to increase consumers financial literacy, financial literacy is the level of aptitude in understanding personal finance. On the other hand, financial capability is broader than financial literacy and it encompasses knowledge, skill, attitude and behaviours in relation to financial service providers and financial services.

• Empower prospective and existing financial consumers to:
  • wisely manage their personal finance;
  • understand key financial concepts, types of financial service providers, financial services and products, terms and conditions, and their right and responsibility;
  • identify unfair terms, financial scams, fraudulent activities
  • be financially resilient during financial crisis;
  • build financial security;
  • make informed financial decision;
  • improve their financial wellbeing;
  • have confidence and trust in the financial system;
  • support innovation and competition;
• Enhance Consumer protection;
• promote financial stability and soundness;
• enhance financial inclusion;
• foster sustainable economic development and reduce poverty.

The NBE is mandated to promote, coordinate, track progresses, monitor an evaluate financial education initiatives and programs through National Financial Education Strategy. The National Bank of Ethiopia has a mission to improve the financial literacy and capability of adults, households and enterprises through financial education, to enable them make informed financial decisions.

1. NBE’s Directive no. FCP/01/2020;
2. Financial literacy module (both English and Amharic version);
3. World Banks Diagnostic Survey on Consumer Protection
4. NBE’s Digital Financial Literacy Guideline
5. Formats and procedures for complaint lodging and handling and so on.
6. Short videos on Financial Literacy and Consumer Protection.
7. Financial education reporting templates

You can access NBE’s resources and publication with regard to consumer protection and financial literacy through the following link or click here