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.^[1] 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.^[2]

References

^ Rena, Ravinder (2006). Financial Institutions in Eritrea. New Africa Press. ISBN 0-9802534-8-9.
^ "Historical Development of Money and Banking in Eritrea from the Axumite Kingdom to the Present, Department of Business and Economics, Eritrea Institute of Technology, Mai Nefhi, Asmara, The State of Eritrea, by Rena, Ravinder, 15 May 2006" (PDF).

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[1] Rena, Ravinder (2006). Financial Institutions in Eritrea. New Africa Press. ISBN 0-9802534-8-9.

[2] "Historical Development of Money and Banking in Eritrea from the Axumite Kingdom to the Present, Department of Business and Economics, Eritrea Institute of Technology, Mai Nefhi, Asmara, The State of Eritrea, by Rena, Ravinder, 15 May 2006" (PDF).

[1]

[2]

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Currency: Eritrean nakfa
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History

See also

References