Browsing by Author "Addis Wolde"
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Item Legality of Circulars as Regulatory Instruments in Ethiopia: the Case of National Bank of Ethiopia (NBE)(Addis Ababa, Ethiopia, 2020) Addis Wolde; Solomon AbayThe Legality of Circulars as Regulatory Instruments in Ethiopia: the Case of National Bank of Ethiopia (NBE). Addis Wolde Bonger Addis Ababa University, 2020 The main objective of this study is to examine the legality of circulars as employed particularly by the National Bank of Ethiopia (NBE). Particular emphasis is made on their consistency with existing regulation in the financial market regulation legislative hierarchy. Apart from a subject matter legislative analysis of circulars in light of existing hierarchies beginning with the constitution and down through proclamations and regulations to directives issued in the sector‟s regulation. A conceptual framework is provided ahead of analysis to enable examination of the use of circulars as regulatory instruments by NBE against acceptable standards of legality of administrative regulatory tools. Analysis is provided by taking into consideration, apart from subject matter analysis of laws, also the reflections of the randomly selected actors in the business community with a view to showcase qualitative empirical considerations in the study. Key words: Legality of Legislations, Delegated Legislation, Financial Market Regulation, National Bank of Ethiopia, Circulars, Directives