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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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banca Nazionale Del Lavoro
Banca Nazionale del Lavoro S.p.A. (BNL) is an Italian bank headquartered in Rome. It is Italy's sixth largest bank and has been a subsidiary of BNP Paribas since 2006. History Founded in 1913 as Istituto Nazionale di Credito per la Cooperazione, it was nationalized in 1929. It was re-privatized and listed on the Milan Stock Exchange in 1998, before being acquired by French banking group BNP Paribas in 2006. Banca Nazionale del Lavoro began Argentine operations in 1960, ultimately opening 91 branches, before selling its operation there to HSBC Bank Argentina in 2006. In 2016 the company opened a contemporary all glass building for their headquarter: BNL BNP Paribas headquarters. Scandals The bank was involved in a major political scandal (dubbed Iraqgate by the media) when it was revealed in 1989 that the Atlanta, Georgia, branch of the bank was making unauthorized loans of more than US$4.5 billion to Iraq. Many of the loans that the branch made were guaranteed by the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eritrean Investment And Development Bank
The Eritrean Investment and Development Bank (EIDB) is a bank in Eritrea. It was established on 28 October 1996. It did not effectively begin operations until 1998 from its single office in Asmara, Eritrea. The bank was fully financed by the Ministry of Finance, and thus the financial institution is a property of the Eritrean government. The Eritrean Investment and Development Bank is the smallest of Eritrean government-owned banks. It typically finances development projects by funneling funds from various other organizations, including the Bank of Eritrea and the World Bank. See also *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 sit ... References Banks of Eritrea Companies of Eritrea Government of Eritrea Banks established in 1996 Organisations based in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regions Of Eritrea
The regions of Eritrea are the primary geographical divisions through which Eritrea is administered. Six in total, they include the Central, Anseba, Gash-Barka, Southern, Northern Red Sea and Southern Red Sea regions. At the time of independence in 1993 Eritrea was arranged into ten provinces. These provinces were similar to the nine provinces operating during the colonial period. In 1996, these were consolidated into six regions (''zobas''). Gash-Barka Region was the largest and the most densely populated region and is called the "bread-basket". The People's Front for Democracy and Justice or PFDJ (originally Eritrean People's Liberation Front) rules the country and its regions as a single-party totalitarian government. The regional and local elections are conducted on a periodic basis on a restricted framework. All men and women of any ethnic or religious background are eligible to vote. No parties or groups other than PFDJ are allowed to contest and the elections are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Bank Of Eritrea
The Commercial Bank of Eritrea is the only banking institution in Eritrea with full retail commercial banking services. It is a government-owned bank, with 17 branches throughout the country. The Bank has arrangements with Citibank for international money transfer, as well as with Deutsche Bank. History When Eritrea achieved its independence in 1991, it took over the Eritrean branches of the Commercial Bank of Ethiopia. The Eritrean government formally chartered the Commercial Bank of Eritrea in 1994. See also * 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 sit ... References Banks of Eritrea Companies of Eritrea Banks established in 1991 1994 establishments in Eritrea {{Africa-bank-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Bank Of Ethiopia
The Commercial Bank of Ethiopia (CBE) is the largest commercial bank in Ethiopia. As of June 2021, it had about 1.1 trillion birr in assets and held approximately 67% of deposits and about 53% of all bank loans in the country. The bank has around 22,908 employees, who staff its headquarters and its over 1000+ branches positioned in the main cities and regional towns. The latter include 120 branches in the national capital Addis Ababa. With the opening of a branch in the Gechi in the Illubabor Zone, CBE's banking network has reached online 783 branches. The bank has reached 1284 branches as of 10 August 2018. The bank also operates two branches in South Sudan. It is contemplating re-opening a branch in Djibouti, and opening branches in Dubai and Washington, DC, all to serve the Ethiopian diaspora. The bank is pioneer to introduce modern banking to Ethiopia and credited for playing a catalytic role in the economic progress and development of the country. It is also the firs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barclays Bank
Barclays () is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. Barclays traces its origins to the goldsmith banking business established in the City of London in 1690. James Barclay became a partner in the business in 1736. In 1896, twelve banks in London and the English provinces, including Goslings Bank, Backhouse's Bank and Gurney, Peckover and Company, united as a joint-stock bank under the name Barclays and Co. Over the following decades, Barclays expanded to become a nationwide bank. In 1967, Barclays deployed the world's first cash dispenser. Barclays has made numerous corporate acquisitions, including of London, Provincial and South Western Bank in 1918, British Linen Bank in 1919, Mercantile Credit in 1975, the Woolwich in 2000 and the North American operations of Lehman Brothers in 2008. Barclays has a pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keren, Eritrea
Keren ( Tigrinya and Tigre: ), historically known as Sanhit,Shinn, David & al. "Hewitt Treaty" in the ''Historical Dictionary of Ethiopia''p. 214 is the second-largest city in Eritrea. It is situated around northwest of Asmara at an elevation of above sea-level. The city sprawls on a wide basin surrounded by granitic mountains on all sides. It serves as the capital of the Anseba Region, and is home to a number of ethnic groups including the Bilen people, Tigre people and Tigrinya people. History Keren grew around the Eritrean Railway to Asmara. The railway was later dismantled because of the war, although there are plans to rebuild it. It is an important commercial centre and was the scene of regular battles in both World War II and the Eritrean War of Independence. Keren was the site of a key battle between Italian and British troops in February – March 1941. Demographics As of 2016, Keren has a population of around 120,000 inhabitants. Residents belon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banco Di Roma
Banco di Roma was an Italian bank based in Rome, Lazio region. It was established on 9 March 1880. Along with Credito Italiano and Banca Commerciale Italiana they were considered as bank of national interests. In 1991 the bank was merged with Banco di Santo Spirito and Cassa di Risparmio di Roma to form Banca di Roma, a predecessor of Capitalia (which was acquired by UniCredit UniCredit S.p.A. is an international banking group headquartered in Milan. It is Italy's only systemically important bank (according to the list provided by the Financial Stability Board in 2022) and the world's 34th largest by assets. It was fo ... in 2007). Banco di Roma also owned a reported 30% stake in a Belgian bank in 1989. The Belgian subsidiary, Banco di Roma (Belgio) S.A., was acquired by Monte dei Paschi di Siena (MPS) in 1992. Banco di Roma also sold subsidiary Banco di Perugia to Banca Toscana, a subsidiary of MPS in 1990. References Banks established in 1880 Italian companie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mengistu Haile Mariam
Mengistu Haile Mariam ( am, መንግሥቱ ኀይለ ማሪያም, pronunciation: ; born 21 May 1937) is an Ethiopian politician and former army officer who was the head of state of Ethiopia from 1977 to 1991 and General Secretary of the Workers' Party of Ethiopia from 1984 to 1991. He was the chairman of the Derg, the socialist military junta that governed Ethiopia, from 1977 to 1987, and the president of the People's Democratic Republic of Ethiopia (PDRE) from 1987 to 1991. The Derg took power in the Ethiopian Revolution following the overthrow of Emperor Haile Selassie I in 1974, marking the end of the Solomonic dynasty which had ruled Ethiopia since the 13th century. Mengistu purged rivals for power from the Derg and made himself dictator of Ethiopia, attempting to modernize the feudal economy of Ethiopia through Marxist-Leninist-inspired policies such as nationalization and land redistribution. His bloody consolidation of power in 1977–78 is known as the Ethiopia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banco Di Napoli
Banco di Napoli S.p.A., among the oldest banks in the world, was an Italian banking subsidiary of Intesa Sanpaolo group, as one of the 6 retail brands other than "Intesa Sanpaolo". It was acquired by the Italian banking group Sanpaolo IMI (the predecessor of Intesa Sanpaolo) in 2002 and ceased being an independent bank. In February 2018, Intesa Sanpaolo announced their new business plan, which would retire Banco di Napoli and other brands; the legal person of Banco di Napoli would be absorbed into Intesa Sanpaolo S.p.A. History The Banco of Naples is one of the most important and oldest historic banks, as its origins date back to the so-called public benches of charitable institutions, which arose in Naples between the sixteenth and seventeenth centuries, especially at a mount of piety founded in 1539 on a pledge to lend without interest, which in 1584 opened a case of deposits, recognised by a proclamation of the viceroy of Naples in the same year. According to some scholars i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banca Per L'Africa Orientale
(BAO) was an early attempt to establish modern banking in the Horn of Africa at a time when Eritrea and Italian Somaliland were Italian colonies. It closed in 1923. History During early WW1, the Italian government wanted the creation of a local bank in the Italian colonies of eastern Africa. It was the first tentative to create a modern banking system in all colonial Africa. In 1914 the central "Bank of Italy" started to operate in Asmara and promoted the creation of private banks — like the "BAO" — in the Italian colonies. The (BIS) was a leading Italian bank that indirectly supported the BAO, but BSI failed in 1921, leading to the failure of the BAO a few years later. *1917 -BIS promoted the formation of the ''Banca per l’Africa Orientale'' as a joint stock company in Rome. *1918 - BAO commenced operations with head office in Massawa and a branch in Mogadishu that was the first bank in Somalia. *1923 - BAO was liquidated following problems at the bank and the failure ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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