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Housing And Commerce Bank
The Housing and Commerce Bank (HCB) is a bank in Asmara, Eritrea. The company has focused on financing various apartment complexes throughout Eritrea, most notably in Asmara and Massawa. It has also extended loans to local companies involved in the Wefri Warsay Yika'alo. History The organisation was founded in 1994 after independence of Eritrea, under the name ''Housing Bank of Eritrea''. In the process it took over the previous Asmara branch of the Ethiopian Housing and Savings Bank, a savings bank set up with the assistance of Cassa di Risparmio delle Provincie Lombarde. HCB's original mission was to provide services to mitigate the acute housing shortage after the Eritrean War for Independence. The firm's name was changed in 1996 when the majority shareholder, the People's Front for Democracy and Justice The People's Front for Democracy and Justice (, PFDJ) is the founding, ruling, and sole legal political party of the State of Eritrea. The successor to the Marxist– ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of Bank regulation, regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure accounting liquidity, liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asmara
Asmara ( ), or Asmera (), is the capital and most populous city of Eritrea, in the country's Central Region (Eritrea), Central Region. It sits at an elevation of , making it the List of capital cities by altitude, sixth highest capital in the world by altitude and the second highest capital in Africa. The city is located at the tip of an escarpment that is both the northwestern edge of the Eritrean Highlands and the Great Rift Valley, Ethiopia, Great Rift Valley in neighbouring Ethiopia. In 2017, the city was declared as a World Heritage Site, UNESCO World Heritage Site for its well-preserved modernist architecture. According to local traditions, the city was founded after four separate villages unified to live together peacefully after long periods of conflict. Asmara had long been overshadowed by nearby Debarwa, the residence of the ''Ethiopian aristocratic and court titles#Important regional offices, Bahr Negash'' or the governor of the coastal province, however it still existe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eritrea
Eritrea, officially the State of Eritrea, is a country in the Horn of Africa region of East Africa, with its capital and largest city being Asmara. It is bordered by Ethiopia in the Eritrea–Ethiopia border, south, Sudan in the west, and Djibouti in the southeast. The northeastern and eastern parts of Eritrea have an extensive coastline along the Red Sea. The nation has a total area of approximately , and includes the Dahlak Archipelago and several of the Hanish Islands. Hominid remains found in Eritrea have been dated to 1 million years old and anthropological research indicates that the area may contain significant records related to the evolution of humans. The Kingdom of Aksum, covering much of modern-day Eritrea and Tigray Region, northern Ethiopia, was established during the first or second century AD.Henze, Paul B. (2005) ''Layers of Time: A History of Ethiopia'', . It adopted Eritrean Orthodox Church, Christianity around the middle of the fourth century. Beginning in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Massawa
Massawa or Mitsiwa ( ) is a port city in the Northern Red Sea Region, Northern Red Sea region of Eritrea, located on the Red Sea at the northern end of the Gulf of Zula beside the Dahlak Archipelago. It has been a historically important port for many centuries. Massawa has been ruled or occupied by a succession of polities during its history, including the Sultanate of Dahlak, Dahlak Sultanate, the Ottoman Empire, the Khedivate of Egypt, Khedive of Egypt and the Kingdom of Italy. Massawa was the capital of the Italian Italian Eritrea, Colony of Eritrea until the seat of the colonial government was moved to Asmara in 1897. Massawa has an average temperature of nearly , which is one of the highest experienced in the world, and is "one of the hottest marine coastal areas in the world." History The historical Massawa lies on the islands Basé (with the historical centre) and Taulud (or Tawalut, Tawlud), connected with each other and with the coast by dams. Massawa seems to have eme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wefri Warsay Yika'alo
The Wefri Warsay Yika'alo (WWY) or Warsay Yika'alo Program of Eritrea is an ambitious project of post-war recovery. It is similar to other economic recovery programs and is often compared to the Marshall Plan The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative enacted in 1948 to provide foreign aid to Western Europe. The United States transferred $13.3 billion (equivalent to $ in ) in economic recovery pr .... 1, 2, 3 The program is a series of sponsored investments managed by the Eritrean government in economic, education, health and transportation related infrastructure. These investments are typically made by a mixture of grants and loans from international organizations and from the Government of Eritrea. The transfer of skills is an important component of this program. Detractors of the program are concerned with the work schedule and conditions of the participants. Transportation infrastructure * Asmara-Ghinda-Massawa c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethiopian Housing And Savings Bank
Ethiopians are the native inhabitants of Ethiopia, as well as the global diaspora of Ethiopia. Ethiopians constitute several component ethnic groups, many of which are closely related to ethnic groups in neighboring Eritrea and other parts of the Horn of Africa. The first documented use of the name "Ethiopia" from Greek name , was in the 4th century during the reign of Aksumite king Ezana. There were three ethnolinguistic groups in the Kingdom of Aksum; Semitic, Cushitic, and Nilo-Saharan (ancestors of the modern-day Kunama and Nara). The Kingdom of Aksum remained a geopolitically influential entity until the decline of its capital — also named Axum — beginning in the 7th century. Nevertheless, the core Aksumite civilization was preserved and continued into the successive Zagwe dynasty. By this time, new ethnic groups emerged – the Tigrayans and Amharas. During the Solomonic period, the latter established major political and cultural influence in the Horn of Africa. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cariplo
Cassa di Risparmio delle Provincie Lombarde, known in shorthand as Cariplo SpA, was an Italian bank founded in 1823. On 2 January 1998, it merged with Banco Ambrosiano Veneto to form Banca Intesa. Cariplo SpA became a short-lived sub-holding company of Intesa in late 1990s, and was fully absorbed circa 2000. History The bank was formed on 12 June 1823 by the count Giovanni Pietro Porro, in Kingdom of Lombardy–Venetia, decades before the unification of Italy. Situated in industrialized Northern Italy, the Lombard firm had become one of the major bank in Italy. In 1926 the bank absorbed Cassa di Risparmio di Voghera and Cassa di Risparmio di Novara in 1928. In December 1991, due to Legge Amato, the bank, as società per azioni, and Fondazione Cariplo were formed to separate ownership, charity and daily banking operation. The bank also started its own expansion strategy 1990s, which acquired shares of the saving banks of Alessandria, Carrara and Spezia to form Carinord ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eritrean War For Independence
The Eritrean War of Independence was an War, armed conflict and insurgency aimed at achieving self-determination and independence for Eritrea from Ethiopian rule. Starting in 1961, Eritrean insurgents engaged in guerrilla warfare to liberate Eritrea Province from the control of the Ethiopian Empire under Haile Selassie and later the Derg under Mengistu Haile Mariam, Mengistu. Their efforts ultimately succeeded in 1991 with the fall of the Derg regime. Eritrea was an Italian Eritrea, Italian colony from the 1880s until the Italians were defeated by the Allies in World War II in 1941. Afterward, Eritrea briefly became a Italian Eritrea#British Military Administration and the end of the colony, British protectorate until 1951. The United Nations convened after the war to decide Eritrea's future, eventually voting in favor of a federation between Eritrea and Ethiopia. As a result, Eritrea became a constituent state of the Federation of Ethiopia and Eritrea. The federation was int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
People's Front For Democracy And Justice
The People's Front for Democracy and Justice (, PFDJ) is the founding, ruling, and sole legal political party of the State of Eritrea. The successor to the Marxist–Leninist Eritrean People's Liberation Front (EPLF), the PFDJ regards itself as a left-wing nationalist party, though it holds itself open to nationalists of any political affiliation. The leader of the party and current President of Eritrea is Isaias Afwerki. The PFDJ has been described as totalitarian, and under its rule Eritrea reached the status of the least electorally democratic country in Africa according to V-Dem Democracy indices in 2023. Creation The Eritrean People's Liberation Front (EPLF), later (from 1994) People's Front for Democracy and Justice, formed from the secessionist movement that successfully fought for the creation of an independent Eritrean nation out of the northernmost province of Ethiopia in 1993. The historical region of Eritrea had joined Ethiopia as an autonomous unit in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Eritrea
Modern banking in Eritrea started with the arrival of the Italian colonizers. However, from 1974 on (due to the nationalization decided by the Ethiopian Government of Mengistu Haile Mariam), the banking sector became a government monopoly. This situation continued after Eritrea achieved its independence. The Bank of Eritrea is the central bank of Eritrea. At present there are three commercial banks in operation in Eritrea - The Commercial Bank, The Housing and Commercial Bank, and the Eritrean Investment and Development Bank. All banks with the exception of the Housing and Commercial Bank are under state ownership, while the Housing and Commercial Banks is owned by the ruling party, the PFDJ. History In 1914, the Italian government authorized the Banca d'Italia, the Italian central bank, to operate under special regime and therefore to carry out in the colonies operations not allowed in Italy, including commercial banking. Banca d'Italia then established its first two branches in A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In Eritrea ...
This is a list of commercial banks in Eritrea, as reported in 2021. List of commercial banks * Commercial Bank of Eritrea, state-owned * Eritrean Investment and Development Bank, state-owned * Housing and Commerce Bank, owned by the People's Front for Democracy and Justice See also * Bank of Eritrea * Banking in Eritrea * List of banks in Africa * List of companies based in Eritrea References {{Economy of Eritrea Banks Eritrea Eritrea Eritrea, officially the State of Eritrea, is a country in the Horn of Africa region of East Africa, with its capital and largest city being Asmara. It is bordered by Ethiopia in the Eritrea–Ethiopia border, south, Sudan in the west, and Dj ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Eritrea
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
