Designing a Comprehensive Framework for Personal Data Protection in Ethiopian Commercial Banks in Alignment with Eu Gdpr
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Date
2024-12
Authors
Maereg Seyoum
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Publisher
Addis Ababa University
Abstract
Data protection is a vital issue for commercial banks, especially since they manage large volumes of sensitive customer data. This research investigates the data protection practices of Ethiopian commercial banks, assesses their compliance with international standards like the EU General Data Protection Regulation (GDPR), and highlights deficiencies in their current methods. Utilizing a mixed-methods research approach, data was gathered through surveys, interviews, and validation sessions with stakeholders, including bank staff, management, and regulators. The results indicate considerable shortcomings in data governance, compliance protocols, and risk management strategies, emphasizing the necessity for a customized framework to tackle these issues. Consequently, this study introduces a comprehensive Personal Data Protection Framework aimed at improving data governance, legal adherence, risk management, data minimization, and security protocols. This framework aligns with GDPR principles while being flexible enough to fit the specific regulatory and operational environment of Ethiopian commercial banks.
By adopting this framework, banks can enhance their data protection practices, build customer trust, and ensure compliance with international standards. The findings of this study go beyond academic contributions, providing actionable insights for banks, regulators, and policymakers to bolster data protection within the banking industry. The research concludes with suggestions for future research, including cross-industry analyses such as telecom and medicals institutions, the incorporation of emerging technologies; AI and ML, and long-term evaluations of the framework's effectiveness.
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Keywords
Personal Data, Data Protection, GDPR Compliance, Ethiopian Commercial Banks, GDPR Privacy Framework, Regulatory Compliance, Data Protection Framework, Emerging Technologies in Data Protection