What arethe three types of depository institutions in Ethiopia?

Commercial banks are the most common type of depository institution in Ethiopia. They offer a wide range of financial services, including checking and savings accounts, loans, and investment products. Commercial banks are regulated by the National Bank of Ethiopia (NBE).

2. Savings and credit cooperatives (SACCOs)

SACCOs are member-owned financial institutions that provide savings and loan services to their members. SACCOs are regulated by the Ministry of Cooperatives and Promotion of Enterprises.

3. Microfinance institutions (MFIs)

MFIs are financial institutions that provide financial services to poor and low-income people who are often excluded from the formal financial sector. MFIs are regulated by the NBE.