Micro-Financing Business Proclamation (No. 626/2009).

This Act provides rules for the micro-financing business in Ethiopia and for the licensing of institutions providing micro-financing. The main purpose of a micro-financing institutions shall be to collect deposits and extend credit to rural and urban farmers and people engaged in other similar activities as well as micro and small scale rural and urban entrepreneurs, the maximum amount of which may be determined by the National Bank. The Property Mortgaged or Pledged with Banks Proclamation No. 97/1998 and Business Mortgage Proclamation No. 98/1998 shall be applicable with respect to property mortgaged or pledged with micro-financing institutions.