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Eritrea: Government accelerates banking system liberalisation

Eritrea is accelerating its banking system liberalisation plan. Indeed, the National Bank has extended the possibility of paying by cheque to private individuals who, until now, were limited to holding commercial current accounts. A sign of modernization that could have positive fallout also on foreign businesses operating in that country or interested in doing so. The measure is part of the government’s more general plan to make the Eritrean banking system more competitive.