2020 V8 No2 8ef1d14ab6

21-28
2-5
30-42
6-13
43-45
14-20
46-48
በዚህ መጽሔት በቀረቡ መጣጥፎች

ውስጥ የተገለጹ ሃሳቦች የደራሲውን
ወይንም የፀሃፊውን እንጂ የባንኩን
አቋም አያንፀባርቁም::
Opinions expressed in the
articles of this magazine do
not necessarily reflect the
policy of the Bank.
የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 1

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MESSAGE FROM THE

PRESIDENT
I cannot hold back my excitement for re-joining We had to go through two rounds of interviews
the lovely and the true bankers’ community of my to join CBE—the first one on our FBE campus
birth place as a banker—the Commercial Bank and the second at the CBE HQ. I have some
of Ethiopia (CBE) after 11 years physical sepa- memories from both. In my first interview, the
ration. I remember, like it is today, the passion lead interviewer was Mr Assefa—the HR Man-
with which the Executive Vice President of the ager, asked me one last question—”what is your
CBE at that time introduced the Bank to us while ambition in the Bank?” I instantly responded—
we were yet to graduate gathering us all graduat- “my ambition is to climb up the long ladder
ing class students of Addis Ababa University on of the Bank very fast!” How far? Assefa asked
our FBE campus.Mr Habtesilasie had eloquently with charm! “Up to the top Supreme President”;
briefed us that CBE was the biggest institution I responded before he finished. Everybody
in the country that had a very tall growth ladder caught with surprise and congratulated me very
which we cannot finish climbing before we got blissfully with a firm confirmation that I would
old with a very wide span of control horizontally surely join the CBE!! My second interview was
which could give us tremendous alternatives of I think for formality as they had already made
choice to work in. His very professional state- their mind on the first. Nevertheless, I would
ments and visible passion had inspired and con- never forget the reception and encouragement of
vinced me to work only for the CBE despite over the interviewers one of them was Woy Melika—
sixty best offers of employment (due to very few the current veteran Chief—Finance. Then, at the
graduates in the market) at that time. I think I end of May, I was informed that I got employed
have made the right choice without bothering to at CBE—very earlier than we received our final
compare CBE with other alternatives that were semester exam results and received employment
trying to tempt unlike many of our friends who letter on June 25 to be effective and start work
opted but were struggling to choose. on July 1, 1998 GC, all before our graduation.
2 ሙዳየ ንዋይ I MUDAYE NEWAY

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I have started my job and new journey of life of CBE though I never asked for a promotion
from the campus at Mehal Ketema Branch as a nor looked into any vacancy. Rather each quick
Management Trainee. The Branch was full of promotions I used to be given had been adding
very senior staffs who were very suspicious of an extra burden on me to work even harder.
the Management Trainees called a “new blood”
at that time. Sometimes they attempt to prove I think my diligence and demonstrated maturity
that the management was recruiting university beyond my age had convinced the management
graduates who were not even able to write on of the time to nominate me in the several spe-
type writers and the like out of their innocent cial taskforces commissioned to undertake some
fear of the unknown. By the way, until then typ- studies for different system improvements of the
ing skill was mandatory to join the bank as a bank such as policy and procedure drafting and
Bank Clerk but we have joined the bank as Man- the big Business Process Reengineering (BPR)
agement Trainees which was a new initiative. project and the like though I was relatively ju-
Nevertheless, all those branch staffs were very nior. Those early engagements in such demand-
professional and do not afford to compromise ing tasks had given me a great opportunity to
any principles and banking ethics. They were my get a senior duty exposure and at the same time
other university to learn all banking operations demonstrate my ability. In the team work many
in only my six months of stay at the branch. One people like to contribute less during the work
thing I have learnt more than other things at that but try to show themselves to the boss on the
branch was how a cents difference in the books date of delivery. However, I was pleased to cov-
of accounts of the bank was significant. No one er even the share of the duties of my colleagues
was allowed to go home if there was a cents dif- but never wished to show my contribution. Nev-
ference until that was discovered. Everything ertheless, most of my colleagues usually obliged
was done manually but no one complains. They to acknowledge my extraordinary contribution
taught me that a cents difference may only be an in any task we perform together the case in point
iceberg of the big problem and cannot be taken was BPR. I was the most junior member of the
lightly until the real cause was discovered. BPR taskforce but at last had become the pre-
senter of the work to the executive management
That was how I began the journey of delivering as well as to the National Steering Committee
my miraculous promise of climbing the long of Ministers. Of course, my contribution in the
ladder very fast. I never dreamed but always felt taskforce was intended simply for the joint suc-
committed and responsible to fulfil my words. cess of the team as I usually do but never thought
I worked hard and endeavoured to always de- I would be nominated as the presenter of the fi-
liver the best. I always set the highest standard nal work. But I had delivered to the maximum of
of performance for myself. Hence, I was nev- my ability and demonstrated my potential to the
er influenced by some of my work colleagues audience when I was given the chance.
who usually defer their assignments or deliver
it incomplete. Nor was I discouraged by weak I strongly believe that though my hard works had
performance monitoring of some of my supervi- played its own critical part on sharpening my
sors. But I had to always work extremely hard to skills as well as to get the opportunity to engage
achieve the highest standard of performance— in such a project and to secure the confidence of
the hallmark of my philosophy and conviction my colleagues to be nominated as the present-
that I had set for myself, which were much more er of our work, the chance I got to demonstrate
than the expectation of my supervisors. I think my potential to the National Steering Commit-
that had resulted in a very fast and accelerated tee had played a great role in my extraordinary
promotion which was exceptional in the history promotion to become the President of the giant

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bank of the nation in only 7 years and 7 months of time and managed to put the CBE on its right
of my employment at the age of only 30years as track. I believe I was also able to reward my
a youngest President ever against all odds. most beloved engines of change—employees, in
different ways than one, but I never felt it was
At the time of my appointment, I was a very enough. I had no and still have no fitting words
young and most unexperienced President but to acknowledge and thank all employees of the
CBE was a giant Bank with extreme difficul- CBE as they were the reason for who I am today.
ties—unacceptable level of non-performing
assets, extremely outdated operational systems I have tried to briefly summarize how I joined
(processes, procedures, structures, etc), barely the CBE and forwarded some details on my short
used outdated technologies, deeply hurt and sad- career before I was appointed as a President with
dened employees, unbelievably confused man- a mere hope that you may benefit. I didn’t dare
agement staffs and unacceptably deteriorated to give you similar details for my three years’
customer service which all have jointly resulted service as the President of the CBE since that
in the massive migration of key customers. This was a public information that you could get and
contrast and mismatch (level of my leadership judge but I had mentioned the situation in which
experience and unthinkably difficult condition I had taken the leadership responsibility and the
of the Bank) was so big and visible to all our key factors for the achievements we all cherish.
stakeholders some of which had judged with I am extremely indebted to all employees of the
certainty that the CBE would go astray. Some of CBE since they were irreplaceable factors of my
the local media had also negatively broadcasted achievements with a miraculous glory of suc-
the news of my appointment as if it was a po- cesses as the young and unexperienced leader
litically influenced and professed that it was for that were given a huge responsibility of lead-
nothing but destined to the demise of the Bank ing and changing the Bank that was in serious
very soon. challenge that demanded immediate and dramat-
ic remedy. Honestly, had I had got a little less
Nevertheless, the most beloved and most profes- confidence and trust of employees of the CBE,
sional employees of the Bank had all surprising- I would have done nothing. That was why I fall
ly didn’t take any time to put their complete trust in deep love with all employees of the CBE and
in me and all stood with me in the endeavour couldn’t forget at all though physically separat-
to revive and start the renaissance of our Bank ed for over 11 years. That is why I couldn’t resist
without any condition. All the management to come back when I was asked to lead and re-
staffs had taken my directions and guidance vive the CBE again!
whole heartedly, and perfectly and passionate-
ly communicated my messages to their subor- Over the last decade, CBE has grown tremen-
dinates and worked day and night to realize our dously—its branches had reached over seven
dreams of CBE’s revival. Most unusually, the folds, its contributions, assets, liabilities, cap-
Labour Union had relentlessly supported all my ital, employees, customers, services, etc had
steps and the exceptional trust and confidence increased much more, it had acquired many
we have built between us had obliged the Union modern technologies and systems and invest-
Leaders to go even beyond their normal course ed a lot in its employees developments etc. It is
and worked as a key advocate of the changes in completely a different Bank from the one I took
the CBE on its own cost. The absolutely per- leadership (with barely no experience) 14 years
fect combination of these key internal factors of back and it has also enormously grown from
change had given me all the leverage and privi- where I left it 11 years ago. Its stakeholders ex-
lege to realize our dreams in a very short period pectations, however, had dramatically grown by

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unmatched pace and magnitude and had got ex- lence in your life and family management. Ex-
tremely complicated rendering its huge efforts ceeding customers’ expectations and securing
and contributions relatively insufficient. their pleasure shall be the ultimate measure of
the CBE’s achievements which will be realized
Hence, CBE still needs our wholehearted and only with a combined forces of the aforemen-
concerted efforts and wisdom to raise it to a tioned excellences. I want to revive the CBE and
higher level that matches its stakeholders dy- soon realize its greatness!! I would, therefore,
namic expectations for which we will have crit- leave no stone unturned to realize the dream of
ical assignments ahead of us that demand a very raising our Bank to its deserved height for which
strong commitment of all employees. I believe I I wish and trust all staff of the CBE will commit
have now acquired tremendous experience and and strive with me wholeheartedly. Beware that
exposure that is required to play the leadership I would take no steps or bring no changes if not
role fitting the challenges ahead of us. I trust all for this noble cause.
employees, the Labour Union and the Manage-
ment at all levels of the CBE will again join their I am thrilled to re-join the staff I love and re-
hands, to discharge what is expected of each, in spect the most and call upon all stakeholders of
a bid to achieve the envisaged excellence in all the CBE to join hands and ensure its renaissance
the CBE’s actions and services. To realize this and realize its vision of becoming a World Class
noble vision, I request all to do at least the same Commercial Bank.
as what you or your seniors had done for our
Bank 14 years ago, in response to my call to Dear all, protect yourself, your family, your
commit all their time, energy and wisdom for work colleagues, your customers and your so-
the renaissance of our Bank, amazingly when I ciety from COVID-19 by diligently complying
had no sufficient experience to lead the Bank or with all safety measures, without failure, under
to influence. any circumstances!! Plant trees, save your envi-
ronment and make your future greener!!
I would like to share with you a little secret
here that you all shall always set and strive for Cheers!!!
EXCELLENCE as your goal in all your deeds
but nothing short of that meets my expectation. Abie Sano
Excellence in customer service, excellence in President, the CBE
staff handling, excellence in protecting CBE’s
June 2020
properties and interests, excellence in perform-
ing plans and reporting, excellence in project
management and accomplishment, excellence
in compliance and risk management, and excel-
____________________________ ,, ____________________________

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... ............. . . . . . . . . . . . . . . . .......................................................................................... BUSINESS & ECONOMY ...................
Factors Influencing Customer Loyality in

The Banking Sector
by: Sentayehu Tesfaye
1. INTRODUCTION Banks must develop strategies that help in

enhancing their customers’ loyalty and establish-
In this modern day business customer loyalty is ing a lasting relationship. To do so, identifying
important for organizations since it has a signifi- the factors that significantly influence customer
cant role to play in retaining existing customers, loyalty is a prerequisite. Hence, this paper is pre-
acquiring new customers, enhancing profitabil- pared to create awareness and better understand-
ity and business growth, and maintaining coming on the factors that influence customer loyalty
petitive advantage. Shrestha (2014) stated that by assessing various literature and studies.
customer loyalty can be translated into profit
through various ways such as cross-selling and 2.The Concept of Customer
up-selling, gaining new customers by word Loyalty
of mouth, price insensitivity of loyal custom-
ers and cost reduction. Reichheld et al. (2000) Customer loyalty has been around since the late
also stated that if banks can increase their loyal 1800’s when grocery stores used to give out col-
customers by 5%, they can potentially increase lectable copper tokens that could be exchanged
profitability by up to 60%. Hence, customer loy- by their customers for items in-store. Similarly,
alty becomes a key factor for banks.

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... ............. BUSINESS . . . . . . .& . . .ECONOMY
. . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
the first trading stamp system which enabled The customer’s willingness to purchase again
customers to collect stamps and affixed them from the company, preferring the company, or
to booklets to be redeemed for store products recommending the company to others could be
was introduced in the 19th century. By the 20th indication to customers’ desire to remain in a
century, the American Airlines established a relationship with a company that demonstrates
practice of frequent-flier program in which they how much a customer is related to a company.
provided free flights and better treatment to woo True customer loyalty is created when the cus-
the flying public to stick with them. Hotel chains tomer becomes an advocate for an organisation,
rewarded customers with free hotel stays. And without incentive.
it wasn’t long before the credit card companies
jumped into the customer loyalty game. 3.Benefits of Customer Loyalty
for Banks
Though there is much debate and confusion
about what is meant by customer loyalty, the The benefits of having loyal customers for banks
most widely cited and comprehensive definition are tremendous. Some of the most important
has been formulated by Oliver (1997). He de- benefits that customer loyalty would bring for
scribed loyalty as a deeply held commitment to banks are mentioned below. Loyal customers:-
rebuy or re-patronize a preferred product/service
consistently in the future, thereby causing repet- ■ Believe that the products and services provid-
itive same-brand or same brand-set purchasing, ed by the bank are superior to those of the com-
despite situational influences and marketing ef- petitors. So, they will act as marketing agents
fort having the potential to cause switching be- and actively engage in positive word-of-mouth
haviour. This definition posits that loyalty has advertisement. In addition, they will encourage
both a behavioural component which suggests a their friends and relatives to patronize the bank
repurchase intention and attitudinal component to others. For instance, a study conducted by Za-
based on preferences and impression of the part- fin (www.zafin.com), which is a leading finan-
ner. cial technology provider, revealed that 70% of
loyal customers would recommend their bank to
Lau and Lee (1999) defined loyalty as build- friends and relatives;
ing and sustaining a trusted relationship with
customers that leads to the customers’ repeated ■ Prioritize the bank’s products and services
purchases of products or services over a given over others and are less willing to switch their
period. On the other hand, customer loyalty, bank. It means that they do not seek out compet-
according to Anderson and Jacobsen (2000), is itors and, when approached by competitors, are
the result of an organisation creating benefits for not interested;
customers so that they will maintain or increase
their purchases from the organisation. Bloemer ■ Help banks to enhance their customer base
et al. (1998) define loyalty in view of the bank- through acquiring new customers and retaining
ing sector as the biased (i.e. non-random) be- the existing ones;
havioural response (i.e. revisit), expressed over
time by some decision-making unit with respect ■ Are more likely to buy products and services
to one bank out of a set of banks, which is a again and again than new customers. According
function of psychological (decision-making and to www.finextra.com, customers who feel loyal
evaluative) process resulting in brand commit- to a bank are 72% more likely to purchase addi-
ment. tional banking product in the future;

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■ That already have a relationship with the bank ■ Are beneficial for banks to sustain and expand
and they trust the bank more than a new cus- their business amidst the competitive environ-
tomer, which gives a bank a great opportunity to ment and shore up profits. Kim and Cha (2002)
cross-sell and/or up sell products and services. It maintained that a small increase in loyal custom-
increases sales volume without much effort on ers can result in a substantial increase in profit-
acquiring new customers; ability. Furthermore, the longer a loyal customer
■ Are less price sensitive. According to www. stays with a bank, the more profitable it is to that
loyaltylion.com, loyal customers spend 67% bank.
more than new ones;
4. Factors Influencing Customer Loyalty
■ Are cost effective to serve and can easily solve
their issues by themselves or using self-service Several scholars in the field of marketing have
like knowledge base or FAQ since they are al- attempted to identify factors that may influence
ready familiar with the bank’s products and ser- customer loyalty in the banking sector.
vices;
4.1. Service Quality
■ Are more likely to share positive experiences In today’s society of intense competition, a bank’s
about the bank’s brands than new customers, as ability to deliver high service quality that result
in satisfing customers is key to sustainable com-
they have already established trust on the bank’s
petitive advantage and success. Most marketing
brands, which in turn help banks to improve
experts believe that service quality is among the
their brand image;
top strategies that are currently shaping the mar-
keting and business strategy of banks. Because
■ Provide opportunities to correct problems
banks compete in the marketplace with general-
and,if a problem arises, they will not use the ly undifferentiated products and services, quality
problem as a basis for compromising their rela- becomes a primary competitive strategy. Hence,
tionship with the bank. This occurs because the for banks to increase the number of customers
bank has been good to them in the past and ad- that they serve on regular basis, they should not
dresses issues when they arise; only provide good quality products but also be
willing to render higher quality services to satis-
■ Give honest and quality feedback about the fy their customers.
bank’s products and services that will help to
improve products and services, launch new Service quality refers to the results of compari-
products and services, measure customer expe- son that customers make their expectation about
rience and satisfaction, forecast accurately and the service and their perception of the way the
take better business decision; service has been performed (Gronroos, 2007). In
this sense the perception of high service quality
■ Help to increase Customer Lifetime Value results in a very high level of purchase intention,
(CLV), which is the net profit attributed to the which ensure that service quality has been found
overall relationship that the bank will maintain to have a profound input on customers‘ loyalty.
with a customer. The CLV helps to measure how In general, service quality literature indicate that
valuable the customers are to the bank now and quality of product and services is directly related
the projected value of all the bank’s interactions to customer satisfaction and leads to loyalty of
with them in the future; customer.

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. . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
4.2. Customer Satisfaction through the bank’s products and services. It is
Customer satisfaction is one of the key factors corporate image that relates directly to the prob-
in modern marketing and customer behaviour ability of preserving/retaining customers for a
analysis. Kotler (2000) defined satisfaction as a bank and is the crucial factor for setting up and
person’s feelings of pleasure or disappointment then upholding the loyal relationship with cus-
resulting from comparing a product’s perceived tomers (Ball et al., 2006). The assessment of ser-
performance (or outcome) in relation to his or vices provided to customers is the leading crite-
her expectations. According to Hansemark and rion that determines the corporate image, thus
Albinsson (2004), satisfaction is an overall cus- adding value to the products and being readily
tomer attitude towards a service provider, or an available in the minds of people for impression
emotional reaction to the difference between formation. It is believed that the greater the cor-
what customers anticipate and what they receive, porate image that a bank has among its custom-
regarding the fulfilment of some need or desire. ers, the greater customer loyalty it achieves.
Generally speaking, if a certain product or service
properly meets customers expectation, which in 4.4. Customer Trust
another way means customers are satisfied with In terms of services, trust is defined as the belief
the provided goods or services, the probability held by a customer that a service provider will
that they use the services again increases. Satis- provide the service that meets his/her needs (An-
fied customers can also act as a great influencer derson and Weitz, 1998). Similarly, trust is de-
to attract new customers. According to Eggert fined as a customer’s perception, opinions, emo-
and Ulaga (2002), customer satisfaction strongly tions, or feelings that occur when he/she thinks
predicts behavioural variables like customer loy- that the service provider can be relied upon to
alty, positive recommendations and intentions to act in his/her benefits.
purchase again from the same service provider.
On the other hand, dissatisfied customers will Trust is built when customers do not hesitate
most probably switch to a different brand; and to believe in a service provider’s or an organi-
this will lead to negative advertising. zation’s intentions and they think that the ser-
vice provider will not deliberately do anything
4.3. Corporate Image to harm them. Hence, trust is an important me-
Nguyen et al (2001) stated that corporate image diating factor between customer behaviour be-
portrays the general perception of people about fore and after purchasing a product which can
a particular firm by associating to the physical lead to long-term loyalty and strengthen the re-
and behavioural characteristics of that firm. lationship between the two parties (Singh and
Consumers of products or services of a firm use Sirdeshmukh, 2000). According to Garbarino
a variety of information during an interconnec- and Johnson (1999), customers who trust a bank
tion process, and as a result form their concrete are more than likely to be loyal to it. Reichheld
opinion about the firm. Hence, a fine corporate and Schefter (2000) point out that customer trust
image gives rise to customer loyalty and aids in is the precondition for customer loyalty.
maintaining that relationship with the custom-
ers, which in turn persuades them to buy the 4.5. Customer Commitment
products and services repeatedly. Commitment refers to a customer’s desire to
continue and maintain a long-term relationship
Corporate image is the sum total of people’s cog- with a service provider or the degree of custom-
nitions, that is ideas, beliefs, and notions about ers’ reliance on the benevolence and credibility
a bank resulting from the value being delivered to the services provided by an organization and

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its promotions (Pi & Huang, 2011). Rauyruen et behaviour. Kotler et al. (2011) also defines price
al (2007) further defines commitment as a psy- as the amount of money charged for a product or
chological sentiment of the mind through which a service; the sum of the values that consumers
an attitude concerning continuation of a relation- exchange for the benefits of having or using the
ship with a business partner is formed. Accord- product or service. Hence, price is an important
ing to Morgan et al, (1994), commitment stems factor in a customer’s purchase decision and can
from trust, shared values, and the belief that it either entice or repel him/her.
will be difficult to find partners that can offer the
same value. Thus, without high commitment of Perceived price is commonly defined as a con-
customers, it will not bring about customer loy- sumer’s overall assessment of the utility of a
alty. Besides, it can be predicted that if custom- product or service based on perceptions of what
ers are committed to use a bank’s services, they is received and what is given. Perceived price is
are likely to make the repeat purchase. essentially a qualitative estimate by the customer
regarding the competitive price for same product
4.6. Switching Cost or service. Yoo et al. (2000) states that perceived
As defined by Jones et al. (2002), a switching price is the expense compared to benefits of a
barrier is any factor that makes it difficult or product, and it affects customer’s attitude and
costly for customers to change their service pro- purchasing intention. Ryu & Han (2010) also
viders. Similarly, switching cost is defined as say that perceived price has an important effect
the cost of changing services in terms of time, on the connection between service quality and
monetary value, and psychological factor (Lai et customer satisfaction, which in turn influences
al., 2011). It is a brand loyalty determinant that customer loyalty.
can be defined as the technical, financial or psy-
chological factor which makes it difficult or ex- 5.Empirical Review
pensive for a customer to change brand (Selnes, Various scholars have verified the existence of
2007). Switching costs include not only eco- solid relationship between customer loyalty and
nomic costs but also search costs, transaction service quality, customer satisfaction, corporate
costs, learning costs, loyal customer discounts, image, trust, commitment, switching cost and
and emotional cost. For this reason, a switch- perceived price. The scholars also concluded
ing cost can be seen as a cost that deters cus- that these factors have significant and positive
tomers from demanding a rival bank’s brand or influence on customer loyalty in the banking
services (Aydin and Ozer, 2005). When the costs sector.
of switching are high for a customer, there is a
greater probability that he/she will remain loyal A study conducted by Amin et al. (2014), Nau-
in terms of repeat purchase behaviour, because reen and Sahiwal (2013) and Liuet et al. (2011)
of the risk or expense involved in switching and in the Iranian and Taiwanese banking sectors,
the accompanying decrease in the appeal of oth- respectively, proved that satisfaction has sig-
er alternatives (Kon, 2004). nificant and positive relationship with customer
loyalty, which means the greater the satisfaction,
4.7. Perceived Price/Value the greater customers loyalty to their respective
Cheng et al. (2011) explained that price is the banks.
money that is required to be paid by a custom-
er for the exchange of a product or service, and The findings of the research conducted by Ah-
customers will have price awareness of the prod- mad and Ahmad (2016) on the factors affecting
uct and service that will impact their purchase customer loyalty in banking sector in Pakistan

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. . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
revealed that service quality, customer satisfac- faction and enhance customer loyalty. Besides,
tion, trust and perceived value influence cus- in the recently revised three-year (2018/19 –
tomer loyalty. Similarly, a study conducted by 2020/21) Corporate Strategy, service quality and
Bareerah and Muhammad (2014) found the ex- increasing customer satisfaction have become
istence of a positive and significant relationship the strategic issues and objectives of the bank.
between customer loyalty and service quality, Thus, assessing the inter-relationships between
customer satisfaction, and corporate image. service quality, customer satisfaction and cus-
tomer loyalty from the bank’s point of view is
While assessing the influence of commitment necessary.
and trust on customer loyalty in the Malaysian
banking sector, Ndubisi (2007) stated that both The bank has certainly been conducting custom-
commitment and trust have significant impact on er satisfaction survey annually by focussing on
customer loyalty in the Malaysian banking sec- the five major service quality dimensions, name-
tor. ly reliability, responsiveness, assurance, empa-
thy, and tangibility. This research tries to relate
A study in Sub-Saharan Africa banking industry these dimensions with the identified factors in-
conclude that service quality, customer satisfac- fluencing customer loyalty after thoroughly ana-
tion, switching cost, customer trust, and custom- lysing their definitions.
er commitment have a significant and positive
influence on customer loyalty in banking indus- ■ Tangibility refers to the physical evidence or
try (Chacha, 2016). Similarly, a study conducted image of the bank’s service and is measured in
in Kenya evidenced that service quality, custom- terms of physical appearance of the bank’s facil-
er satisfaction, corporate image, customer trust ities, equipment, personnel, and communication
and perceived price significantly and positively materials.So, it is possible to associate tangibili-
influenced loyalty of banks customers (Isabella ty with corporate Image.
(2013), Teddy (2012) and Elkana (2010).
■ Reliability refers to the delivery of services as
6. Service Quality, Customer Satisfac promised and is measured in terms of the ability
tion and Customer Loyalty in CBE to perform the promised service dependably and
accurately. So, reliability is associated with per-
Ensuring service quality and customer satisfac- ceived Price/value.
tion have nowadays become strategic bank tools
that enhance customers loyalty since ■ Responsiveness emphasizes on the willing-
excellence in service quality and the resulting ness and readiness of bank employees to serve
level of customers satisfaction is constantly re- customers’ needs and requests and provide
lated to customers loyalty. Moreover, the greater prompt bank service to entice customers to con-
satisfaction those customers have with their ser- tinue and maintain a long-term relationship with
vice experience, the more they develop loyalty the bank. Thus, responsiveness is linked with
to the bank that provides quality services. customer commitment.
With this view, operational excellence in CBE’s ■ Assurance includes employees’ knowledge,
Corporate Strategy has been chosen to be the courtesy and ability to convey trust and confi-
customer value proposition with the intention dence to customers and all concerned parties.
to enhance service quality, which in turn sig- Hence, assurance almost matches with customer
nificantly contributes to higher customer satis- trust.

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■ Empathy refers to the level of caring and indi- From the data presented in the table, it is clear
vidual attention to customers’ concerns, under- that the service quality performance of the bank
standing the growing and ever-changing needs in terms of the service quality dimensions has
of customers, and having problem solving atti- a direct impact on the bank’s customers satis-
tudes directed towards customers through per- faction and customers loyalty. When the service
sonalized or customized service. So, it is pos- quality of the bank increases, the customer sat-
sible to associate empathy with switching cost. isfaction and customer loyalty of the bank also
The reasons behind associating the service qual- increases, and vice versa.
ity dimensions with factors influencing custom-
ers loyalty are to clearly show how service qual- This conclusion is also supported by a study
ity, customer satisfaction and customer loyalty conducted in the Indian and Pakistan banking
are interrelated with one another, and to assess sectors to assess the impact of service quality
the impact of service quality on customer satis- on customer satisfaction and customer loyalty
by focussing on the service quality dimensions
faction and customer loyalty. It is known that the (Anand and Selvaraj, 2012 and Hafeez and Mu-
bank has been conducting Customer Satisfaction hammad, 2012). Both studies concluded the
Survey every year with the primary objective of existence of significant association between all
measuring the satisfaction level of customers. In the service quality dimensions and the customer
order to address the stated objective of the study, satisfaction and customer loyalty. Therefore, it
the researcher assessed the five years (2014 – is imperative that the bank gives due attention
2018) Customer Satisfaction Survey reports to the service quality dimensions and their at-
of the bank. Table 1 below presents the results tributes, and take extra effort to improve its ser-
of Service Quality Dimensions and Customer vice quality in order to achieve higher customer
Satisfaction. Fortunately, for three years (2014 satisfaction and also significantly and positively
–2016), the Customer Satisfaction Survey also influence customers loyalty. If the bank provides
measured the bank’s customer loyalty, and the quality service, then customers will be satisfied
result is presented in table 1. and will become loyal as long as they are satis-
fied with the bank’s services.

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. . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
7.Conclusion and Recommendation customers satisfaction, corporate image,
customer trust and commitment and cus-
This study is conducted with the intention of tomers perceived value. Hence, the bank
enhancing awareness of the bank’s staff about and the staff should focus on improving
factors influencing customer loyalty in the bank- the quality of services being offered for
ing sector. After assessing various literature and better and greater customer satisfaction
studies, it identified that service quality, custom- and customer loyalty.
er satisfaction, corporate image, customers trust,
customers commitment, switching cost and per- iv. The bank should enhance services that
ceived price/value as the major factors that in- boost customers’ trust in the bank because
fluence customer loyalty in the banking sector. trust significantly affects loyalty.
Similarly, based on the empirical assessment,
these factors significantly and positively influ- v.The staff should demonstrate credibility
ence customers loyalty in the banking sector. It and integrity in order to maintain the trust
is also observed from the assessment that the in- of customers and improve customers loy-
terrelation of the factors in which, through pro- alty.
viding quality services, it is possible to achieve
customer satisfaction, enhance corporate image, vi. CBE should arrange training programs
build customer trust and commitment, increase for its staff in order to further enhance
switching cost/make difficult to customer to their awareness on factors influencing
switch to other banks and enhance customers customer loyalty and significance of the
perceived value. factors to enhance the customer base. The
training will also make the staff more ef-
The following recommendations will help the fective while dealing with customers.
bank to attain higher level of customer loyalty.
This, in turn, will help the Commercial Bank vii. The bank and the staff should make
of Ethiopia to achieve its strategic objectives of extra effort to improve service quality,
business growth and operational excellence. customer satisfaction, corporate image,
customer trust, customer commitment, and
i. The bank should anticipate in advance perceived value of customers, to make cus-
the needs and expectations of its custom- tomers reluctant to switch from CBE and
ers’ in order to provide services in a better attain higher level of customer loyalty.
way and meet their perceptions.
viii. It is advisable to conduct a survey
ii. CBE should make sure that the quality in the future with the objective to identify
of services and products that it offers to whether the stated factors have a signifi-
customers are good enough to enhance cant and positive influence on the bank’s
customers’ commitment to the bank. This customers loyalty.
should be ensured by the staff through de-
livering prompt services to customers by ix. Finally, CBE should also conduct Cus-
being responsive, assuring and empathic tomer Loyalty Survey in the future to iden-
when handling customers. tify whether it has loyal customers or not,
and to assess the attitudes and behaviours
iii. Through providing quality services to loyal customers reflect towards the bank’s
customers, the bank can enhance products, services, and/or brands.

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Human Capital Development in the Ethiopian

Banking Industry
By Teklay Tesfay, Seid Mohamed birhan, Bihon Kassa and Tesfay Aregawi
1. Introduction of commercial banks in Ethiopia in light of the

current global dynamics. To address the general
The banking industry is one of the most knowl- objective, the current practices of human capi-
edge intensive industries. Better skills can in- tal development in the Ethiopian banking sector,
crease employee’s value in the work place, and the readiness of Ethiopian commercial banks in
an employer with highly skilled employees gains terms of having qualified human capital that will
a significant competitive advantage. Taking into enable them to compete with foreign banks in
account the dynamics of the sector and the im- the event of financial liberalization as well as the
portance of human capital in the bank industry, key internal and external issues that affect the
there should be a human capital capable of fac- quality of human capital are assessed.
ing global and local competition.
The study was conducted by applying a
The banking sector in Ethiopia is improving cross-sectional research strategy wherein data
from time to time in terms of service provision, were collected at one point in time. The qualita-
outreach, capital, asset size, resource mobiliza- tive data were collected from both primary and
tion, credit disbursement and automation. Con- secondary sources.
sidering the possibility of financial sector lib-
eralization in the country, domestic banks are The target populations were private and gov-
expected to have, among other things, a human ernment-owned commercial banks, and the data
capital that is ready to face global competitive collection instrument was an in-depth interview.
challenges. The interviews were conducted with presidents,
vice presidents and directors of the banks with
The general objective of the study is to assess the the relevant knowledge about the issue under
overall human capital development endeavors

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. . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
investigation. In addition to the interviews, sec- 2.2 Review of theories advocating the rele-
ondary sources from NBE’s website and internal vance of human capital development
reports were also used in the analysis as a com-
plement. Human Capital Theory
2. Review of Related Human Capital Theory refers to the aggregate

Literature stock of competencies, knowledge, social, and
2.1. Introduction personal attributes embodied in the ability to
create intrinsic and measurable economic val-
Human capital is defined as “the sum of knowl- ue. According to this theory, a work force that is
edge, skills, experience and other relevant work- more educated and possessing the relevant skills
force attributes that reside in an organization’s makes it easier for a firm to adopt and implement
workforce and drive productivity, performance new technologies, which in other words means
and the achievement of strategic goals. (Mat- return on investment in employees education
thewman and Matignon 2004)” and training (Izushi and Haggins, 2004). Hu-
man capital theorists believe that education is an
Today, it is widely accepted that organizational investment since it enhances productivity. The
value is derived from a combination of material theory holds that competence, knowledge, abil-
assets, including equipment, finance, property ities and skills of an organization’s work force
and real estate. It also includes immaterial as- contribute to its competitive advantage.
sets such as brand, reputation, image, knowl-
edge, skills and expertise, and human capital in Resource Based View (RBV)
the form of workforce. In a knowledge-based
economy, human capital becomes increasingly Resource Based View (RBV) suggests that the
critical to business operations (Rastogi, 2000; method in which resources are applied within a
Agarwala, 2003). The term human capital en- firm can create a competitive advantage (Bar-
compasses the notion that there are investments ney, 1991; Mata, Fuerst, &Barney, 1995).This
in people (e.g. education, training, health); and theory suggests that an organization’s human
that these investments increase an individual’s capital management practices can contribute
productivity. significantly to sustaining competitive advan-
tage by creating specific knowledge, skills and
Qambar (2015) argued that employees who fo- culture within the firm that are difficult to im-
cus on their education and training will improve itate (Afiouni, 2007; Mataetal., 1995). In other
their knowledge and competence, leading to su- words, by creating resource diversity (increasing
perior contribution to the company in terms of knowledge and skills) and/or resource immobil-
efficiency in comparison to the ones with low- ity (a culture that people want to work in), sus-
er education. This results in the explanation for tainable competitive advantage can be created
higher incomes for their efforts in forming hu- and maintained.
man capital.
Growth Theory
When part of an organization possesses such
valuable and unique human capital, this consti- Endogenous Growth Theory (also called New
tutes the “human capital advantage” as described Growth Theory) holds that investment in hu-
by Boxall (1996). man capital, innovation, and knowledge are
significant contributors to economic growth.

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The theory also focuses on positive externali- embracing technological changes. The world is
ties and spillover effects of a knowledge-based changing rapidly, and for society to be relevant,
economy which will lead to economic develop- modern ways of doing things must be accepted
ment (Romer, 1994). The Endogenous Growth and be implemented.
Theory primarily holds that the long run growth
rate of an economy depends on policy measures. 3. Data Analysis and Presentation
For example, subsidies for research and devel- of Findings
opment or education increase the growth rate in
some endogenous growth models by increasing 3.1 Findings and Discussion
the incentive for innovation.
Guiding the Human Capital Development
A central proposition of New Growth Theory Endeavors through Strategy
is that, unlike land and capital, knowledge is
not subject to diminishing returns. According The interview result showed that some banks
to Cortright (2001), unlike physical objects, guide their capacity building efforts through an
knowledge and technology are characterized by HR strategy which they claim is aligned with
increasing returns, and these increasing returns the overall corporate strategy. However, there
drive the process of growth. The theory also ar- are banks that undertake their human capital de-
gues that innovation and new technologies don’t velopment endeavors without HR strategy. Fur-
occur simply by random chance. Rather, it de- thermore, the interview revealed that there is no
pends on the number of people seeking out new HR strategy that guides the banking industry as
innovations or technologies and how hard they a whole.
are looking for them. In addition, people also
have control over their knowledge capital, i.e. In Ethiopia, though issues of human capital de-
what to study, how hard to study. If the profit velopment might appear here and there in var-
incentive is great enough, people will choose to ious sectors, a comprehensive nationwide HR
grow human capital and look harder for new in- strategy is lacking or else the concerned minis-
novations. tries and private sector institutions are not aware
of its need. Furthermore, NBE or any other re-
Modernization Theory sponsible government body has not been able
to develop HR strategy for the banking sector.
Modernization Theory focuses on how educa- NBE only issued a directive requiring banks to
tion transforms an individual’s value, belief and allocate 2% of their working capital for capaci-
behavior. Modern values are being inculcated in ty building efforts. As a result, banks are using
people when they are exposed to modern institu- this budget haphazardly though this differs from
tions such as schools, social media, internet and bank to bank. Hence, it can be concluded that the
factories. McClelland’s (1961) research work human capital development task is not general-
gave birth to modernization theory. He opines ly guided by a well-thought HR strategy at na-
that certain societies are better and advanced tional, sectoral, and institutional levels, with the
because of their personality styles and cultural exception of few banks which mentioned that
differences. As a social psychologist, hetriesto they have developed HR strategy. An exception
explain why some societies are faster in social here is the work done by the Commercial Bank
and technological advancement. This theory of Ethiopia. CBE has developed its HR develop-
is trying to encourage societies to be open and ment strategy in collaboration with the Frankfurt
adapt to modern ways of doing things by way of School of Finance and Management.

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. . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
This strategy has been put in to effect in 2013
However, the most serious problem the inter-
and has been in operation since then.
viewees raised was the fact that the impact of the
training is not evaluated on a continuous basis.
Provision of Training and Education
This kind of evaluation is designed to determine
whether training has had the desired effect at in-
All the interviewed managers indicated that
dividual department and organizational levels.
there are two financial training institutions in
They further noted that organizations involved
the country. These include the Ethiopian Insti-
in the evaluation of training effectiveness are not
tute of Financial Studies (EIFS) owned and run
only responsible for what the employees learn
by the NBE and the Center of Excellence of the
but the need to see that the knowledge which
Commercial Bank of Ethiopia. The managers
the employee gained is being applied in work.
believed that the Center of Excellence owned
Training and regular evaluation would definitely
by CBE is modern and well furnished. However,
make an organization stand in the limelight in
some managers felt that the EIFS of the NBE
achieving its objectives.
needs to be further strengthened since it is not
currently having the required training ameni-
Employee Recruitment and Turnover
ties. According to the information obtained from
NBE, there were times when the institute had
When the bank managers were asked about their
been engaged in conducting diploma programs
recruitment practices, most of them indicated
in banking and insurance and short-term train-
that they hire high-performing fresh university
ings. Later, its well-furnished training facility
graduates based on their cumulative grade point
located at Akaki was handed over to Addis Aba-
average (CGPA). They further explained that
ba University. After long years, NBE is now in
they apply stringent selection procedures such
the process of taking over the training center.
as written examination and interviews to get
the most competent candidates from the pool of
The key informants revealed that they are using
applicants. Many of them claim that since the
the training opportunities provided by the ex-
banking industry is relatively the best payer in
isting institutions when they deem it necessary.
the country, they are able to attract better em-
However, they indicated that the trainings pro-
ployees. In addition to better pay, they assert that
vided by these institutions are mainly theoreti-
they also try their best to make the working envi-
cal. They do not expose trainees to the practical
ronment attractive and conducive to employees.
world. As a result, some are inclined to provide
in-house training to their employees. The three
As a result of this, almost all the managers in-
year report (2015-2017) the researchers obtained
terviewed believed that employee turnover is
from CBE’s Center of Excellence indicate that
low as compared to the rate customarily taken as
the participation of trainees from private banks
industry standard (5%). None of them reported
has been consistently declining.
an attrition rate that is even nearer to 5%. Not-
withstanding this, they all agreed that there is a
In addition to using the opportunities and facil-
“war for talents” among the banks themselves.
ities provided by these institutions, most banks
According to them, there is little or no attrition
claim that they also provide short-term training
from the banking industry to other industries in
to their employees using other alternatives local-
the country. The main factor that causes high at-
ly, and sometimes internationally. Most banks
trition in the banking industry, according to the
also mentioned that they provide domestic long-
interviewees, is the attractive salary and other
term scholarship opportunities to their employ-
benefit packages provided by individual banks.
ees on a competitive basis.

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The war is even worse when it comes to middle well as the reduction of risk and costs in areas
and top level managerial positions, as claimed such as relationships with suppliers and the de-
by some banks. This implies that in the banking velopment of new products and technologies.
sector instead of trying to develop their existing As can be evidenced from the interview result,
employees by making the necessary investment, commercial banks in Ethiopia are lagging be-
there is a tendency to snatch competent people hind in terms of forming effective partnerships
developed by other banks which may lead to un- with international firms so that they can reap the
healthy competition in the industry. benefits arising out of the relationships.
Efforts to Constantly Attract, Develop and Re- Preparations for Financial Liberalization
tain the Best Human Capital
All managers indicated that they are well aware
It can be discerned from the interview result that that the Government of Ethiopia will eventually
all the banks provide several incentives such liberalize the financial market and allow foreign
as competitive remuneration, free scholarship, banks to operate in the country sooner or later.
short-term training, conducive working environ- Especially, one manager gave three reasons why
ment and the like to their employees. Many of he thinks the liberalization measure is not too
them claimed that they have benefit packages far, namely: Ethiopia’s request for WTO acces-
and salary scales that are subject to revision pe- sion, the frequent shortage of foreign currency
riodically based on labor market conditions. the country is facing, and the strength of the de-
velopmental state to withstand global pressure.
Strategic Alliances with International Firms Owing to this reality, all the managers claimed
that they are making the necessary preparations
With the exception of the Commercial Bank of to face the global competition in terms of im-
Ethiopia, all the other banks interviewed have proving their financial base, using advanced
not yet forged partnerships with international technology products and developing human cap-
firms. CBE claimed that it has been working ital. Especially, in the former two aspects they
with both domestic and foreign firms in the area felt that they are in particular exerting maximum
of human capital development. Among the for- efforts to position themselves at competitive ad-
eign firms it works with are the Frankfurt School vantage. However, regarding the development
of Finance and Management, the Crown Agent of their human capital, despite the efforts they
(Great Britain), and KPMD which provides are already making they do not feel that they are
training on ICT. The company’s also work with comfortably prepared to meet the global chal-
domestic firms such as Ethiopian Air lines Avi- lenges.
ation Academy (customer service training) and
INSA (on information security). However, head of the Ethiopian Institute of Fi-
nancial Studies (EIFS) has acknowledged that
A strategic alliance or partnership is one of the some efforts are underway to develop the capac-
effective ways to gain competitive advantage ity of the workforce (especially the leaders) by
through sharing of knowledge and expertise. The taking in to account the possibility of financial
formation of strategic alliances has been seen as liberalization. The efforts are not limited to the
a response to globalization and increasing un- banking sector. They include the insurance and
certainty and complexity in the business envi- microfinance sectors. In connection to this, the
ronment. Strategic alliances involve the sharing head mentioned that this is done in partnership with
of knowledge and expertise between partners as the Center of Excellence of the Commercial Bank

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. . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
and sophisticated work systems.
of Ethiopia for the time being. In the meantime,
he disclosed that the EIFS is working to equip it- ■ NBE is not leading the banking sector proac-
self with the necessary training facilities and be- tively and strategically. The Director of the Bank
come full-fledged training institution. As part of Supervision Directorate admitted that NBE is
this effort, he indicated that HR strategy for the not in a position to lead the sector strategically,
institute has been developed with the help of the partly due to the fact that many competent and
Frankfurt School of Finance and Management. experienced employees are leaving the bank in
search of better salary. According to him, senior
4. Key Issues Affecting the Banks’ Human employees with many years of experience are
Capital Development Efforts leaving while the bank is straggling with the ju-
nior and inexperienced young professionals.
Internal Factors
■ The inactiveness of stakeholders such as the
■ Shareholders are generally interested in max- Bankers’ Association and the Ethiopian Micro-
imizing their short-term financial returns and do finance Institution. For instance, the manag-
not see the importance of making long-term in- ers complained that they do not know what the
vestment on human capital development. As a Bankers’ Association is doing. According to
result of this, boards of directors of the Banks them, it could have for example played a posi-
and the managements are compelled to give pri- tive role in mitigating the salary scale war (war
ority to return maximization while giving little for talents) that is going on among the banks.
attention to human capital development.
■ The biggest challenge identified by the man-
■ The mindset of bank leaders about human cap- agers is that the university graduates they hire
ital development is the other challenge. Leaders for entry level positions every year do not have
at all levels (especially as one move down the the necessary qualification in terms of knowl-
hierarchy) do not give the desired focus to hu- edge, skill, and attitude.
man capital development. They do not generally
assume that it is their responsibility. 5. Recommendations
■ The effectiveness of the training programs is The availability of skilled human capital is fun-
not periodically evaluated. Usually, evaluations damental in creating and sustaining competitive
are made on the number of training provided advantage in any industry. The continual devel-
without regard to their impact on the trainees opment in this regard requires positive and rein-
and their performances. forcing environment on the part of the employer.
Consequently, the following points are recom-
■ ‘’War’’ for talents among the banks is another mended based on the conclusions drawn earlier.
challenge. Almost all the banks are busy snatch-
ing qualified people from fellow banks, instead ■ HR strategies are needed both at the industry
of contributing their share in increasing the tal- and national levels, crafting long-term HR strat-
ent pool through training and development. egies at the level of individual banks is more
critical
External Factors
■ The issue of human capital strategy needs to
■ The absence of a bank that can be considered become an increasingly important topic on board
as a role model in terms of applying advanced agendas. It should also be clear to shareholders

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and the board alike that enhancing human capi- ment capabilities and innovation of employees
tal can have a number of beneficial effects, both in financial products and services.
direct and indirect, for the banks concerned and
also for the economy in general. ■ Furthermore, the NBE (or any other responsi-
ble body) may need to develop incentives to en-
■ It is also imperative to encourage private sec- courage collaboration between local educational
tor investment in local institutions to provide fi- institutions (TVETs and universities) and finan-
nancial education. cial institutions to promote financial education.
■ The regulatory body (NBE) might have to take ■ Conduct annual audits to ensure that financial
measures that encourage local financial institu- training institutes remain relevant to the devel-
tions (public and private) to invest in human cap- opment of the industry. In addition, the training
ital development as it has become one of the key programs provided by the institutions have to be
sources of competitive advantage. regularly evaluated to gauge their effectiveness
and impact.
■ Beyond the 2% requirement imposed, NBE
should look into some incentives to lure the ■ Banks in collaboration with NBE should try
banks into making more investment in human to forge strategic alliances with international
capital development. development partners and/or consultancy firms
for the development of human capital in the fi-
■ Upgrading existing financial training institu- nancial services industry.
tions and collaborating with leading financial
education institutions to accelerate the develop- ■ Standard certifications for key job roles in the
industry should be introduced.

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... ............. . . . . . . . . . . . . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
የሚንቀሳቀሱ ንብረቶችን በዋስትና

በማስያዝ ብድር የመስጠት የባንኮች

ኃላፊነትበገዙ አየለ መንግስቱ (ኤል ኤል ኤም)
መግቢያ የብድር አቅርቦት ውስኑነትም ባንኮች ብድርን

በሰፊው ላለማቅረባቸው ሌላው ምክንያት
በሀገራችን ነባራዊ ሁኔታ ባንኮችና አበዳሪ ነው፡፡
የገንዘብ ተቋማት ብድር ለማበደር እንደ
መያዣነት ከሚመርጧቸው ንብረቶች መካከል በኢፌዴሪ የህዝብ ተወካዮች ምክር ቤት ጸድቆ
በዋናነት የማይንቀሳቀስ ንብረት(ህንጻዎችንና በነጋሪት ጋዜጣ የታተመው የሚንቀሳቀሱ
ቤትን) እንዲሁም ከተንቀሳቃሽ ንብረቶች ንብረቶችን በዋስትና በማስያዝ ብድር
ደግሞ መኪናን እንዲሁም ትላልቅ ማሽነሪዎች ለመበደር የሚያስችል አዋጅ በቅርቡ በስራ
ላይ ብቻ የተመሰረተ እንደሆነ ይጠቀሳል፡፡ ላይ እንዲውል ተደርጓል፡፡ በተለይም አዋጁ
አበዳሪ ባንኮች በዋናነት በቀላሉ ብድራቸውን የያዛቸውና የሚያተኩርባቸው ነጥቦች ለአበዳሪ
ማስመለስ የሚችሉት ሊጠፉ የማይችሉ ባንኮችም ጭምር አዲስ በመሆናቸው አዋጁን
ንብረቶችን በመያዣነት በመያዝ ነበር፡፡ ይህ የሚጠቀሙት አስፈጻሚዎችም ሆኑ የባንክ
ሁኔታ የተበዳሪዎችን ብድር አግኝቶ የንግድ ባለሙያዎች እንዲሁም ከዚህ አዋጅ ተጠቃሚ
እንቅስቃሴ ውስጥ መሳተፍ እና ለኢኮኖሚ የሚሆኑ የህብረተሰብ ክፍሎች ስለአዋጁ
እድገት አስተዋጽኦ ከማድረግ አንጻር አዳጋች ግንዛቤ እንዲኖራቸው ማድረግ ውስብስብነት
እንደነበር የሚታወቅ ነው፡፡ በዚያው ልክ የሚታይበትን ይህንኑ አዋጅ መሰረታዊ ነጥቦቹን
ለማስገንዘብ ከፍተኛ ጠቀሜታ አለው፡፡ከዚህ

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... ............. . . . . . . . . . . . . . . . .......................................................................................... LEGAL FORUM ...................
በዘለለም አዋጁ የያዛቸው ሀሳቦች አዳዲስና የዋስትና ንብረት አለመኖር ብድር ላለማግኘት
ውስብስብ በመሆናቸው አዋጁ ላይ ግንዛቤ ዋነኛ ችግር ከመሆኑ ጋር ተያይዞ በዚህ ደረጃ
ካልተፈጠረ ተግባራዊነቱ እጅግ ከባድ የማይንቀሳቀሱ ንብረቶች፣ በተለይም እንደ
እንደሚሆን የአዋጁን ይዘት በመመልከት ንብረት እንኳን የማይቆጠሩ በንብረቶች ላይ
በቀላሉ መናገር ይቻላል፡፡ በመሆኑም በዚህ ያሉ መብቶችን በመያዣነት በመጠቀም ብድር
ጽሑፍ ስለአዋጁ እና በባንኮች እንዴት ማግኘት መሰረታዊ ለውጥ የሚያመጣ ነው።
ሊፈጸም እንደሚችል እንዲሁም የሚንቀሳቀሱ ይሁንና እነዚህ ጉዳዮች በተግባር ተፈትነው
ንብረቶች ሲባል ምን ምን ያካትታል? መታየት አለባቸው፡፡
በዚህ አዋጅ ተጠቃሚ ለመሆን ምን ምን
ጉዳዮችን ማሟላት ያስፈልጋል? የአዋጁ ዋነኛ የአዋጁ አንቀጽ 3 የአዋጁን ተፈጻሚነት ወሰን
ትኩረት ምንድን ነው? የሚሉና ሌሎችም ያስቀመጠ ድንጋጌ ነው። በዚህም መሰረት አዋጁ
መሰረታዊ ነጥቦች ጠቅለል ባለ መልኩ ዳሰሳ ለብድር ክፍያ ወይም ለሌላ ግዴታ አፈጻጸም
ተደርጎባቸዋል፡፡ በስምምነት በሚመሰረቱ የተንቀሰቃሽ ንብረቶች
መብቶች ላይ ተፈጻሚ ይሆናል ይላል፡፡
የአዋጁ አላማ እና ተፈጻሚነት
የተንቀሳቃሽ ንብረት መብቶች በራሱ ትርጉም
በተንቀሳቃሽ ንብረት ላይ የሚመሰረት የሚሰጠው ሰፊ ጽንሰ ሀሳብ ከመሆኑም
የዋስትና መብት አዋጅ የወጣበት ዋና አላማ በተጨማሪ ተፈጻሚነቱ ከማይንቀሳቀሱ
በዋናነት ዘመናዊ የብድር ስርዓት እንዲኖር፣ ንብረቶች በሚመነጩ መብቶች ላይ ሳይቀር
ግለሰቦችና ተቋማት ተንቀሳቃሽ ንብረታቸውን ተፈጻሚነትን የሚሰጥ ነው፡፡ ለምሳሌ ያህል
በማስያዝ የብድር አገልግሎት እንዲያገኙ፣ በአንድ የማይንቀሳቀስ ቤት ላይ የሚመሰረትን
እንዲሁም የባንክ የብድር አገልግሎትን በገጠር የማከራየት መብት በመያዣነት በማዋል ብድር
አካባቢም ጭምር ተደራሽ ለማድረግ በማሰብ ለማበደር የሚቻልበትን ሁኔታ ሁሉ የሚፈቅድ
የወጣ ነው፡፡ ከተንቀሳቃሽ ንብረቶች መያዣ አዋጅ እና ድንጋጌ መሆኑን መረዳት ይቻላል።
እና የብድር ዋስትና ጋር ተያይዘው የሚገጥሙ ከዚህ በተጨማሪ ግን በአዋጁ አንቀጽ 3(2)
ፈተናዎችንና ተግባራዊነታቸው ገና በተግባር ላይ አዋጁ ተፈጻሚ የማይሆንባቸውን ዝርዝር
ባይታይም አዋጁ ሰፊ አላማ ይዞ እንደወጣ ሁኔታዎች አስቀምጧል፡፡ እነዚህ ልዩ
ያሳያል፡፡ በተለይም አሁን ባለው የፋይናንስ ሁኔታዎችም ቢሆኑ በራሳቸው ሰፊ ማብራሪያና
አቅርቦት፣ ባለው የመሰረተ ልማት ችግር፣ ግንዛቤን የሚጠይቁ መሆናቸው ሊታወቅ
ስለ ባንክ ብድር በአብዛኛው የሀገሪቱ ክፍሎች ይገባል። የባንክ ባለሙያም በሚንቀሳቀስ
ካለው አነስተኛ ግንዛቤ አንጻር አዋጁ ከፈረሱ ንብረት መያዣነት ሊያዙ የማይችሉና አዋጁ
ጋሪው አይነት እንዳይሆን ያሰጋል፡፡ ተፈጻሚ የማይሆንባቸውን ንብረቶች ለይቶ
ማወቅ ዋነኛው ተግባሩና አዋጁን ለመፈጸምም
የአዋጁ አላማ ግን ሰፊ እና ከተተገበረም የግዴታ ማወቅ ያለበት ጉዳይ እንደሆነ መገንዘብ
መሰረታዊ ለውጥ ሊያመጣ የሚችል ያስፈልጋል፡፡
እንደሚሆን መገመት ይቻላል። በተለይም

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... ............. LEGAL . . .FORUM
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ለባንኮች በመያዣነት የሚቀርቡት ለዋስትና ማስያዝ፤ ባለቤትነትን በማስቀመጥ
የሚንቀሳቀሱ ንብረቶች የትኞቹ የሚደረግ ሽያጭ፤ የተሸጠ ንብረትን መልሶ
ለመግዛት መብት የሚሰጥ ሽያጭ፤ በምስክር
ናቸው?
ወረቀት የሚረጋገጡ ሴኩሪቲዎች ላይ
የሚመሰረቱ የዋስትና መብት፤ በመጋዘን
በአዋጁ መሰረት የሚንቀሳቀስ ንብረት ሰፊ
ደረሰኝ ላይ ያለ የዋስትና መብት፤ የሞተር
ትርጉም ተሰጥቶት ተግባር ላይ እንዲውል
ተሸከርካሪን፤ ተሳቢን፤ የእርሻ መሳሪያን፤
የታሰበ ነው፡፡ በመሆኑም እያንዳንዱ ባንክ
የኮንስትራክሽን መሳሪያን፤ የኢንዱስትሪ
ለብድር ዋስትና የሚቀርቡና የማይቀርቡ
መሳሪያን ጨምሮ ሌሎች ከመሬት፤ ከቤት
የሚንቀሳቀሱ ንብረቶች የትኞቹ ናቸው?
ወይም ከህንጻ ውጪ ያሉ ንብረቶችን
በምን መልኩ ተግባር ላይ ሊውሉ ይችላሉ?
ያካትታል።’’
የሚለውን ጠንቅቆ መለየት ለብድር ስርዓቱ
ወሳኝነት ያለው ጉዳይ ነው፡፡ ከዚህ አንጻር
ትርጉሙ የሚንቀሳቀሱ ንብረቶች የትኞቹ
ነው የአዋጁ ሰፊ ክፍል በአዋጁ ውስጥ
ናቸው የሚለውን ዘርዝሮ መጨረስ
ለተቀመጡ ቃላትና ጽንሰ ሀሳቦች ትርጉም
ስለማይቻል ወይም እያንዳንዱ ከማይንቀሳቀስ
በመስጠት የተያዘው።
ንብረት ውጪ ያለ ነገር ምንም ሳይቀር
ተንቀሳቃሽ ንብረት እንደሆነ ያውጃል፡፡
በአጠቃላይ የሚንቀሳቀሱ ንብረቶች፣
በመሆኑም ዝርዝሩ በአዋጁ ውስጥ ያልተካተቱ
እንዲሁም በዋስትናነት ሊያዙ እና ባንኮችም
ዝርዝሮችንም ያካትታል ማለት ነው፡፡
እንደዋስትና ንብረት ሊይዟቸው የሚችሉት
ለዚህም አዋጁ በትርጉሙ መጨረሻ ከመሬት፣
የትኞቹ ናቸው የሚለው ዋናው ሊታወቅ
ከቤትና ከህንጻ ውጪ ያሉ ንብረቶችን በሙሉ
የሚገባው ነጥብ ነው፡፡
ያካትታል በማለት ማስቀመጡ የማይንቀሳቀስ
ንብረት ያልሆነ ነገር በሙሉ በዚህ ዝርዝር
አዋጁ በአንቀጽ 2(27) ላይ ተንቀሳቃሽ ንብረት
ውስጥ ተካተተም አልተካተተም የሚንቀሳቀስ
ማለት ምን ማለት እንደሆነ ጠቅለል ባለ መልኩ
ንብረት እንደሆነ ግንዛቤ እንዲወሰድ በግልጽ
ተርጉሞታል፡፡ በዚህም መሰረት ፣
አስቀምጧል፡፡
“ተንቀሳቃሽ ንብረት ማለት የንግድ
በዚህ ትርጉም ውስጥ የተካተቱት ቃላትና
እቃዎችን፤ የግብርና ምርቶችን፤ ግዑዝነት
ሐረጎችም በአዋጁ ውስጥ በአግባቡ ትርጉም
የሌላቸው ሀብቶችን፤ ግዑዝ ሀብቶችን፤ በህግ
የተሰጣቸው ሲሆን፣ በተለይም ባንኮችም ሆኑ
ካልተከለከለ በስተቀር በመሬት ላይ የመጠቀም
የባንክ ባለሙያዎች ጽንሰ ሀሳቦቹን ከማወቅ
መብትን፤ በዱቤ ግዢ የሚገኝ መብትን፤
በዘለለ በተግባር ለማዋል የእያንዳንዱን ቃል
በአደራ የተቀመጠ ንብረት ሰነድ፤ የአደራ
ፍቺና ምንነት ማወቅን የሚጠይቅ ነው።
መያዣ ደረሰኝ፤ የሸቀጦች ጭነት፤ ንግድን
____________________ ለምሳሌ ያህል እንኳን የግብርና ምርቶች
አዋጅ ቁጥር 1147/2011 አንቀጽ 3(2) በገበያ በሚሸጡ ሴኩሪቲዎች ላይ የሚመሰረት የዋስትና መብት፤ የባህር ህግ ተፈጻሚ
1
የሆነበት መርከብና ለአገልግሎት በሚውሉ ተጓዳኞች ላይ የሚመሰረት ዋስትና መብት፤ በኢትዮጵያ ሲቪል አቪየሽን ባለስልጣን
በተመዘገበ አውሮፕላን ላይ የሚገኝ የተጠቃሚነት መብት፤ ብድር እስኪመለስ ድረስ ገንዘብ ጠያቂው በህግ እንዲይዘው በተፈቀደ
ንብረት ላይ በአዋጁ ተፈጻሚነት ወሰን ውጪ ያለን ተያያዥ ገቢን በተመለከተ አዋጁ ተፈጻሚነት አይኖረውም፡፡ ይሁንና እያንዳንዱ
በዚህ አንቀጽ የተገለጸው ጽንሰ ሀሳብም ለትርጉም የተጋለጠ ከመሆኑም በላይ ብዙ ትንታኔና ማብራሪያን የሚጠይቅ ነው፡፡

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... ............. . . . . . . . . . . . . . . . .......................................................................................... LEGAL FORUM ...................
እንደ አንድ የሚንቀሳቀስ ንብረት የሚቆጠሩ የሚችልበት አጋጣሚ ስለሚኖር ድንጋጌዎቹ
ሲሆን፣ በትርጉም ረገድም የግብርና ምርቶች እንዲሁ በህጉ ውስጥ ከመቀመጥ ውጪ
ማለት የበቀሉ ወይም በመብቀል ላይ ያሉ ተፈጻሚነታቸውን ጥያቄ ውስጥ የሚያስገቡ
ወይም ወደፊት የሚበቅሉ ሰብሎች፤ ደንና ብዙ ጉዳዮች እንዳሉ የሚያመላክት ነው፡፡
የደን ውጤቶች፤ የቤት እንስሳት የሚወልዱትን ሌላው የመያዣ ንብረቶቹ ምዝገባ በሚደረግበት
ጨምሮ፤ ንብና የዶሮ እርባታ፤ ለግብርና ስራ ጊዜ ስለመያዣ ንብረቶቹ ዝርዝር መግለጫ
ጥቅም ላይ የሚውሉ ግብአቶች ወይም በምርት መያዝ አስፈላጊ እንደሆነ ተደንግጓል።
ሂደት ያልተቀየሩ የሰብል ወይም እንስሳት ይሁንና አንዳንድ የመያዣ ንብረቶች መለያ
ምርቶችንና ሌሎች የግብርና ውጤቶችን ማድረግን በተመለከተ ተግዳሮቱ ብዙ
ያጠቃልላል፡፡ ይሆናል። ንብረቶቹ በቀላሉ የሚንቀሳቀሱና
ሊጠፉ የሚችሉ በመሆናቸውም በቀላሉ
በዚህ ረገድ በተለይ በመያዣነት የሚቀርቡት በንብረቶቹ ላይ ምልክት በማድረግ ገንዘብ
ንብረቶች ሰፊ ከመሆናቸው አንጻር ሊያሳስብ ጠያቂዎች ብድሩ ካልተከፈላቸው ንብረቶቹን
የሚችለው ጉዳይ የባንኮች የገንዘብ አቅርቦት ለመሸጥ በሚሞክሩበትም ወቅት በመያዣ
እንዲሁም ተደራሽ እንዲሆን የተፈለገው ንብረቱ ምዝገባ ወቅት የተደረጉ መለያ
ማህበረሰብ ክፍል ብድርን የመክፈል አቅም ምልክቶች ሊጠፉ የሚችሉበት ሁኔታ መያዣ
ነው፡፡ ንብረቶችን በቀላሉ ለመለየት የሚደረገውን
ጥረት አስቸጋሪ ሊያደርገው ይችላል፡፡
ከዚህ በተጨማሪ ህጉን ለማስፈጸም ከፍተኛ
ተግዳሮት የሚሆነው መያዣ ንብረቶቹ ሊያዙና የመያዣ ንብረቶች ምዝገባና የቀዳሚነት
ቁጥጥር ሊደረግ የሚችልበት ስርዓት አለመኖር
ነው፡፡ ከህግ አንጻርም አንዳንዶቹ የሚንቀሳቀሱ
መብት ወሰን
ንብረቶች በእውኑ የሌሉ እና ወደፊት ይኖራሉ በሚንቀሳቀሱ ንብረቶች መያዣ መብት ላይ
ተብሎ የሚታሰቡትን ይጠቀልላል፡፡ ለዚህም በዋናነት የሚነሳው የህግ ጥያቄ ብድር ከመፍቀድ
ከላይ በተገለጸው ትርጉም ውስጥ በመብቀል ጋር ተያይዞ የሚቀርቡ የመያዣ ንብረቶች ምን
ላይ ያሉ ወይም ወደፊት የሚበቅሉ ሰብሎችም ያህል ከሌሎች እዳዎች ነጻ ናቸው የሚለውን
የሚንቀሳቀስ ንብረት ተደርገው በመያዣነት ማረጋገጥ ነው። በዚህ ሂደት በተለይም ባንኮች
ሊያዙ የሚችሉ ንብረቶች ሆነዋል፡፡ እንዴት መያዣ ንብረቶቹን በቀዳሚነት ለመያዝ ንብረቱ
ሊያዙ ይችላሉ? የሌለ ንብረትስ እንዴት ከዚህ በፊት በእዳ መያዣነት ስለመያዝና
እንደመያዣነት ይቆጠራል? የሚለው አንዱ አለመያዙ ማረጋገጫን ማግኘት ይፈልጋሉ።
ነገር ሆኖ፤ ነገር ግን በተግባር ብንመዝነው በተጨማሪም ባንኮች የመያዣ ንብረቶቹን
የእነዚህ አይነት የህግ ድንጋጌዎች ተፈጻሚነት በመያዣነት ለማስመዝገብ የሚከተሉት ስርዓት
አጠያያቂ ይሆናል፡፡ ምክንያቱም በእኛ ምንድን ነው? የሚንቀሳቀስ ንብረት መያዣ
ሀገር ሁኔታ የማይታይንና የማይጨበጥን ምዝገባ የሚካሄደው የት እና እንዴት ነው?
ነገር ለመያዝ አንደኛ ባንኮችን ለከፍተኛ ባንኮች ከሌሎች ተወዳዳሪ የመያዣ መብት
ኪሳራ ሊዳርግ ስለሚችል ብድሩን ለመስጠት ካላቸው አበዳሪዎች አንጻር የመያዣ ንብረት
ላይደፍሩ ይችላሉ፡፡ ሁለተኛ፣ ለእነዚህ ላይ ያላቸውን መብት እንዴት ያስፈጽማሉ?
አይነቶቹ የወደፊት ንብረቶች የኢንሹራንስ የመያዣ ንብረቶቹ የሚንቀሳቀሱ ንብረቶች
ሽፋን የሚሰጥ የመድን ድርጅት ላይኖርም ከመሆናቸው ጋር ተያይዞ ንብረቶቹ ቢጠፉ፤

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... ............. LEGAL . . .FORUM
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ቢበላሹ፤ ከአስያዡ እጅ ወጥተው በሌላ ሰው የመያዣ መዝገብ ያቋቁማል፡፡
እጅ ይዞታ ስር ቢወድቁ ባንኮች እና አበዳሪ
የገንዘብ ተቋማት መብታቸውን እንዴት የሚቋቋመው የመያዣ መዝጋቢ ጽህፈት ቤት
ያስከብራሉ? የሚሉት ነጥቦች በሙሉ ምላሽ በማእከላዊ ደረጃ ከሆነ በተለያዩ ቦታዎች
የሚፈልጉና አዋጁን መሰረት አድርገው የሚከናወኑ ምዝገባዎችን የሚያከናውነው
ብድር የሚሰጡ ተቋማትም ሊያውቁት የሚገባ እንዴት ነው? መያዣዎቹንስ የሚያስመዘግበው
ተግባር ነው፡፡ እና የሚመዘግበው ማነው? የሚል ጥያቄ
መነሳቱ አግባብነት ነው፡፡ በዚህም መሰረት
የሚንቀሳቀሱ ንብረቶችን በዋስትና መያዣነት የአዋጁ አላማ ምዝገባው በኤሌክትሮኒክስ ዘዴ
ለመያዝ የወጣው አዋጅ እነዚህንና መሰል እስከተከናወነ ድረስ ምዝገባውን ለማካሄድ
ጥያቄዎችን ለመመለስ ሰፊ የህግ አንቀጾችን ጽህፈት ቤት በየአካባቢው ማቋቋም አስፈላጊ
ይዟል፡፡ አዋጁ በክፍል አራት ስለ መያዣ አይሆንም የሚል ነው። በመያዣ መዝገብ
መዝገብ ሰፊ አንቀጾችን ያስቀመጠ ሲሆን፣ ውስጥ የማስታወቂያ ምዝገባ የሚከናወነው
በአዋጁ መግቢያ ላይ እንደተቀመጠውም ዋስትና ባለው ገንዘብ ጠያቂ ወይም በህጋዊ
የሚንቀሳቀሱ ንብረቶች መያዣ መዝገብ ወኪሉ አማካኝነት ሲሆን፣ በሂደቱ ሁሉ
በኤሌክትሮኒክስ መንገድ እንደሚሆን ግን መያዣ ሰጪው ስለዋስትናው በጽሁፍ
ተገልጿል፡፡ ሁኔታውን ከባድ የሚያደርገው መፍቀድ ወይም በጽሁፍ የተደረገ የዋስትና
ግን የምዝገባ ሂደቱ በሀገሪቱ ካሉት ስምምነት በመያዣ ሰጪውና ዋስትና ባለው
የመሰረተ ልማት አገልግሎቶች ማለትም ገንዘብ ጠያቂ መካከል መደረግ አለበት፡፡
በሀገሪቱ ያለው የበይነ መረብ (ኢንተርኔት) ከእነዚህ ድንጋጌዎች መረዳት እንደሚቻለው
አገልግሎትና ፍጥነት፤ የመብራት ችግሮች የመያዣ ንብረትን ምዝገባ ለማከናወን የዋስትና
እንዲሁም ስለእነዚህ አገልግሎቶች ያለው ሰጪው ፈቃደኝነትና ስምምነት ወሳኝ መሆኑን
ግንዛቤ እና እውቀት አነስተኛ መሆን በህጉ ሲሆን፣ ከዚህ ውጪ ግን የመያዣ ንብረት
እንደተቀመጠው በተግባር ለመገኘት አዳጋች ምዝገባ በማንኛውም ሰው ሳይሆን መከናወን
እንደሚሆን መገመት አስቸጋሪ አይሆንም፡፡ ያለበት ዋስትና ባለው ገንዘብ ጠያቂ ወይም
እነዚህ ችግሮች አዋጁ አላማውን እንዳያሳካ በተወካዩ በኩል ብቻ ነው፡፡
ተጨማሪ መሰናክሎች መሆናቸው የማይቀር
ነው፡፡ ለመሆኑ እነዚህ የሚንቀሳቀሱ ንብረቶችን
በመያዣነት ለመያዝ የፈለገ አበዳሪ ተቋም
የሚንቀሳቀስ ንብረት መያዣ ምዝገባ ጽ/ቤት ንብረቶቹን በተመለከተ ቀድመው በመያዣነት
በደንብ እንደሚቋቋም እና ይህ ጽህፈት ቤትም ስለመያዛቸውና ስለመመዝገባቸው ማረጋገጥ
በማእከላዊነት ሁሉንም በኤሌክትሮኒክስ ዘዴ የሚችለው እንዴት ነው? አዋጁስ ለዚህ
የሚከናወኑ ምዝገባዎችን በአንድ ቋት ውስጥ መፍትሔ አስቀምጧል ወይ? የሚለው ሌላው
ይዞ የሚያስቀምጥ ተቋም ነው፡፡ በዚህም ሊታይ የሚገባው ጉዳይ ነው፡፡ የሚንቀሳቀሱ
መሰረት የሚኖረው አንድ የምዝገባ ጽ/ቤት ንብረቶችን በመያዣነት በመያዝ የቅድሚያ
ተንቀሳቃሽ ንብረትን በሚመለከት የሚከናወኑ መብት መመስረት የሚቻለው የመያዣ
የመያዣ ምዝገባዎችን ለመመዝገብ የሚያስችል ምዝገባ ከተከናወነ ነው፡፡ በመያዣነት የተያዙ
____________________ የሚንቀሳቀሱ ንብረቶችንም በተመለከተ
2
ዝኒ ከማሁ፤ አንቀጽ 2(16). የሚቋቋመው ጽህፈት ቤት ስለንብረቶቹ ሁኔታ

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... ............. . . . . . . . . . . . . . . . .......................................................................................... LEGAL FORUM ...................
መግለጫ በማዘጋጀት መረጃዎቹ ለህዝብ ተደራሽ
አንድን የሚንቀሳቀስ ንብረት በዋስትና የያዘ
እንዲሆኑ የተለያዩ ተግባራትን ያከናውናል፡፡
ገንዘብ ጠያቂ ከሌሎች ገንዘብ ጠያቂዎች
በዚህም መሰረት ዋስትና ያለውን ገንዘብ ጠያቂ
መለያ መስጠት፤ ለዋስትና የዋለና ለዋስትና ይልቅ የቀዳሚነት መብት አለው፡፡ ይህ
የሚውል ንብረት መግለጫም በበቂ ሁኔታ መብት ተፈጻሚነት ላይኖረው የሚችለው
ለመለየት በሚያስችል መልኩ ተብራርቶ ወይም ዋስትና ካለው ገንዘብ ጠያቂ የቀዳሚነት
መገለጽ እንዳለበት ሲሆን፣ በዚህም መሰረት መብት ሊኖረው የሚችለው በኪሳራ ህግ ከዚህ
መግለጫው የዋስትና ንብረቱ በአንድ በተወሰነ በተቃራኒው ከተደነገገ ብቻ ነው፡፡ ነገር
ምድብ ውስጥ ያለ ወይም በብዛት ወይም ግን በአንድ የሚንቀሳቀስ ንብረት ላይ ከአንድ
በስሌት በተሟላ ሁኔታ ሊገለጽ ይችላል፡፡ በላይ የሆኑ ገንዘብ ጠያቂዎች የዋስትና መብት
በአንድ በተመዘገበ ማስታወቂያ ውስጥ አንድን በሚኖራቸው ጊዜ ስለሚፈጠሩ ተወዳዳሪ
ንብረት መጥቀስ መያዣ ሰጪው በንብረቱ ላይ የዋስትና መብቶች አዋጁ ያስቀመጠውን
የባለቤትነት መብት እንዳለው ወይም ወደፊት ድንጋጌ መመልከት ተገቢ ነው፡፡ አንድ
እንደሚኖረው የማያመላክት መሆኑን በአዋጁ ገንዘብ ጠያቂ በዋስትና ንብረቱ ላይ ከሌሎች
አንቀጽ 30(4) ላይ ተደንግጓል፡፡ አዋጁ ዋስትና ካላቸው ገንዘብ ጠያቂዎች የቀዳሚነት
በተለይም በመያዣነት የተያዙ ንብረቶችን መብት ሊኖረው የሚችለው የዋስትና ንብረቱን
ለህዝብ ይፋ በማድረግ፤ ንብረቶቹን ለመለየት በዋስትናነት ባስመዘገበበት ቅደም ተከተል
እንዲቻል እንዲሁም ማስታወቂያውም እስከ ብቻ ይሆናል፡፡ ይህ ሁኔታም በተለይም አንድ
አስር አመት ድረስ ጸንቶ እንደሚቆይ በግልጽ የዋስትና ተጠቃሚ ንብረቱን በተመለከተ
ደንግጓል። በዚህ ረገድ አበዳሪ ተቋማትና የቱንም ያህል የዋስትና ስምምነት ያድርግ
ባንኮች ስለሚይዙት የሚንቀሳቀስ መያዣ ወይም የዋስትና ግዴታውን ይመስርት ቀድሞ
ንብረት ግልጽ የሆነ መረጃ እንዲኖራቸውና ዋስትናውን እስካላስመዘገበ ድረስ ከሌሎች
ተአማኒነትንም እንዲያጎለብቱ በማሰብ ሰፊ ዋስትና ተጠቃሚዎች ቀድሞ የዋስትና
አንቀጾችን ለዚሁ ተግባር አውሏል፡፡ ግንኙነት ስለመሰረተ የቀዳሚነት መብት
ሊኖረው አይችልም። ከአንድ በላይ አንድ
በሚንቀሳቀሱ ንብረቶች መያዣ ላይ ዋስትና ንብረት በሁለትና ሶስት ዋስትና
ስለሚኖር የቀዳሚነት መብት ተጠቃሚዎች የተመዘገበ ከሆነም የቀዳሚነት
መብቱ የሚወሰነው በምዝገባው ቅደም ተከተል
አንድ የመያዣ ንብረት ከአንድ በላይ ለሆኑ መሰረት ይሆናል፡፡
አበዳሪ ተቋማት በዋስትና መያዣነት ሊያዝና
ሊመዘገብ ይችላል፡፡ በዚህ አጋጣሚም አበዳሪ
በመሰረቱ አዋጁ የዋስትና መብትን የቀዳሚነት
ተቋማቱ ብድሩ በአግባቡ በማይከፈልበት ወቅት
መብት በተመለከተ ሰፊ አንቀጾችን
የዋስትና ንብረቱን በሐራጅ በመሸጥ ብድሩን
አስቀምጧል። ለምሳሌ ያህል ከሚንቀሳቀስ
የማስመለስ መብት በህግ ተሰጥቷቸዋል።
ንብረት ጋር ግንኙነት ስላለው ተያያዥ
ይሁንና የዋስትና ንብረቱን ሸጦ ለብድር
ማስመለሻ ለማዋል ንብረቱን ቀድሞ ሸጦ መብት፤ ታሳቢ ብድርና ታሳቢ መያዣ ፤
የመጠቀም መብት የማን ነው? የሚለው በህግ በማይንቀሳቀስ ንብረት ተጓዳኝ ላይ ስለሚኖር
በሚደነገግ የቀዳሚነት መርህ መሰረት የሚገዛ የቀዳሚነት መብት፤ መያዣ በተላለፈለት ሰው
ነው፡፡ ፤ በፍርድ ወይም በህግ ገንዘብ ጠያቂዎች
እና ሌሎችም የቀዳሚነት መብታቸውን

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... ............. LEGAL . . .FORUM
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በተመለከተ በዝርዝር ተደንግጓል፡፡ ከላይ ከግዴታ አለመፈጸም ጋር ተያይዞ በተለይ
ከተገለጸው ለየት ባለ መልኩ ደግሞ በአንቀጽ ዋስትና ያለው ገንዘብ ጠያቂ መብቱ በሌላ ሰው
56 ላይ “በፍጆታ እቃዎች፤ በመሳሪያዎች የተነካበት ከሆነ ዳኝነት እንዲሰጠው ለፍርድ
እና አእምሯዊ ንብረቶች ላይ የተገኘ የዋስትና ቤት ማመልከትና እንደአስፈላጊነቱም ጉዳዩ
መብት መያዣ ሰጪው ከመሰረተው ሌላ በተፋጠነ ሥነ-ሥርዓት እንዲታይ ማድረግን
ተወዳዳሪ የዋስትና መብት ቀዳሚነት የሚኖረው ይጨምራል። ይሁንና ዋስትና ተጠቃሚው
የተገኘ የዋስትና መብት ያለው ገንዘብ ጠያቂ ገንዘብ ጠያቂ ንብረቱን በጨረታ ሽያጭ
ንብረቱን በይዞታው ስር ካደረገ ወይም መያዣ ከሸጠ እና የሽያጭ ሂደቱ የፍትሐብሔር ሥነ-
ሰጪው ሀብቱን በይዞታው ስር ባደረገ ወይም ሥርዓት ህግ ያስቀመጣቸውን ሥነ-ሥርዓቶች
አእምሯዊ ንብረት ላይ መብት ባገኘ በሰባት ያልተከተለ ከሆነ ባለእዳው ለደረሰበት
ስራ ቀናት ውስጥ የተገኘ የዋስትና መብት ጉዳት ካሳ የመጠየቅ መብት እንዳለው ህጉ
ማስታወቂያ የተመዘገበ እንደሆነ ነው።’’ ያስቀምጣል፡፡ ከጨረታ ክንውን ጋር ተያይዞ
ይህ ሁኔታ በተለይም ከላይ የዋስትና መብት ከዚህ አዋጅ በፊት ባሉ አዋጆች በተለይ
ቀዳሚነት የሚረጋገጠው በምዝገባ ቅደም የንግድ መደብርንና ተሸከርካሪዎችን ወይም
ተከተል ነው ከሚለው መርህ የወጣ ልዩ ማሽነሪዎችን በተመለከተ የዋስትና ተጠቃሚ
ድንጋጌ ይመስላል። ባንክ በጨረታ ከመሸጡ በፊት የ30(ሰላሳ)
ቀን የጽሁፍ ማስጠንቀቂያ ለመያዣ ንብረት
የሚንቀሳቀሱ ንብረቶችን መያዣ ያደረጉ ባለቤቱ መስጠት እንዳለበት ይደነግግ ነበር።
ባንኮች ተበዳሪው ብድሩን ሳይከፍል በዚህ አዋጅ መሰረት ግን መያዣን ለማስተላለፍ
የሚሰጥ ማስታወቂያ ዋስትና ባለው ገንዘብ
ሲቀር ያላቸው መብት ጠያቂ የሚሰጥ ሆኖ ገንዘብ ጠያቂው
ዋስትና ያለው ገንዘብ ጠያቂ ተበዳሪው እዳውን መያዣውን የማስተላለፍ ፍላጎት ካለው የአስር
መክፈል በማይችልበት ጊዜ በዋስትና ንብረቱ የስራ ቀናት ማስታወቂያ መስጠት አለበት።
ላይ በህግ በተሰጠው መብት መሰረት ብድሩ ማስታወቂያውም ለባለእዳው፣ ለአስያዡ፣
እንዲመለስለት ለማድረግ የሚችልባቸው በመያዣው ላይ መብት እንዳለው ላሳወቀ
የተለያዩ የህግ አማራጮች ተቀምጠዋል። ሌላ ሶስተኛ ወገን፣ ዋስትናውን ላስመዘገበ
በተለይም የሚንቀሳቀስ ንብረት በሚሆንበት ሌላ ገንዘብ ጠያቂ፣ እንዲሁም በቀደምትነት
ጊዜ ንብረቱን አከራይቶ መጠቀም፤ በራስ መያዣው በይዞታው ስር ለነበረ ማንኛውም
ይዞታ ስር አድርጎ መጠቀምንና በመጨረሻም ዋስትና ያለው ሌላ ገንዘብ ተጠያቂ መሆን
ንብረቱን በሐራጅ ጨረታ በመሸጥ ብድሩ አለበት።
እንዲመለስ ማድረግ፤ ንብረቱ በሁለተኛ
ጨረታ ጊዜ አልሸጥ ካለም ዋስትና ያለው
ገንዘብ ጠያቂ ንብረቱን በመጀመሪያው
ጨረታ መነሻ ዋጋ የመረከብና ባለቤትነቱንም
እንዲተላለፍለት ለማድረግ የሚያስችል መብት
አለው፡፡
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3
ዝኒ ከማሁ አንቀጽ 20 እና 21 ን ይመልከቱ፡፡
4
ዝኒ ከማሁ አንቀጽ 22(1-6) ያሉትን ይመልከቱ፡፡

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... ............. . . . . . . . . . . . . . . . .......................................................................................... LEGAL FORUM ...................
ማጠቃለያ እንዳይፈጠር የበይነ መረብ ደህንነቱን ማረጋገጥ

አስፈላጊ ነው። ምክንያቱም የመያዣ ምዝገባው
የሚንቀሳቀሱ ንብረቶችን በመያዣነት በመያዝ
መረጃዎች በሙሉ የሚገኙት በኤሌክትሮኒክስ
ብድር ማበደር እንዲቻል ሆኖ ህግ መዘጋጀቱ
ዘዴ በተመዘገበው በዚሁ የኮምፒዩተር ስርአት
በሀገራችን ለንግድ እንቅስቃሴም ሆነ ለባንኮች
ላይ ስለሆነ ነው፡፡
አጠቃላይ ስራ እጅግ በጣም አስፈላጊ ነው፡፡
ነገር ግን በአዋጁ ላይ የሚታዩት ጽንስ ሀሳቦች
ለባንኮችም በተለይ አነስተኛ የብድር አቅርቦትን
አዲስ ከመሆናቸው ጋር ተያይዞ ለመተግበር
ለማስፋፋት እንዲሁም የመያዣ ንብረትን
ጊዜ እንደሚወስድ መገመት ይቻላል፡፡
በተመለከተ ያሉ ችግሮችን የሚቀርፍ ነው።
ሌላው በእነዚህ የሚንቀሳቀሱ ንብረቶች ላይ
ይሁንና አሁንም ቢሆን በመያዣ ንብረቶቹ
እምነት ጥሎ ብድር ለመስጠት መፍቀድም
ተአማኒነት ላይ ያሉ ችግሮች በተፈለገው
ባንኮች ሊሻገሩት የሚገባው ጉዳይ ነው።
መጠን ብድር ለማቅረብ ሌላው ተግዳሮት
የሚንቀሳቀሱ ንብረቶች ካላቸው ሰፊ የህግ
እንደሚሆን እሙን ነው፡፡ የባንክ ባለሙያዎችና
ትርጉም አንጻር ንብረቶቹን አስይዞ መበደር
ባንኮችም በአዲሱ አዋጅ ዙሪያ ዝርዝር
ክፍተቶች እንደሚፈጥር መገመት ይቻላል፡፡
የሆነ የእውቀት ማበልጸጊያ ፕሮግራሞችን
እንዲሁም ስልጠናዎችን ለሰራተኞቻቸው
በሌላ በኩል የሚንቀሳቀሱ ንብረቶች ምዝገባን
በመስጠት አዋጁን ተግባራዊ ማድረግና ከዚሁ
በተመለከተ ምዝገባው የሚከናወነው በዘመናዊ
ጋር ተያይዞ የሚመጣን የቢዝነስ አማራጭ
ኤልክትሮኒክስ ዘዴ ከመሆኑ ጋር ተያይዞ አዋጁ
መጠቀም ይጠበቅባቸዋል።
ተደራሽ ለማድረግ ከፈለጋቸው የማህበረሰብ
ክፍሎች አንጻር ይህንን ለማድረግ ከፍተኛ
በአጠቃላይ ግን በዚህ አጭር ጽሁፍ ውስጥ
የመሰረተ ልማት ችግር በተለይ የኔትወርክ፤
እያንዳንዱን የአዋጁን ድንጋጌ በጥልቀት
የመብራት እንዲሁም የአገልግሎት አጠቃቀሙ
ለመዳሰስ ስለማይቻል ጸሐፊው ዋና ዋና
ዝቅተኛ መሆኑ ችግሩን ሊያባብሰውና የአዋጁ
የሆኑ እና የባንክ ባለሙያዎች በራሳቸው
ተፈጻሚነት ላይ ችግር ሊፈጥር ይችላል።
ንባብ ሊያዳብሩት የሚችሉትን ነጥቦች ብቻ
በተጨማሪም የመረጃ ቋቱ ላይ ችግር
የተካተተበት መሆኑን መገንዘብ ያስፈልጋል።
___________________________ ,, _______________________
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8
ዝኒ ከማሁ፤ አንቀጽ 47 እስከ 65 ያሉትን ድንጋጌዎች 10
አዋጅ ቁጥር 1147/2010፤ አንቀጽ 83 ን ይመልከቱ፡፡
ይመልከቱ፡፡
9
አዋጅ ቁጥር 1997/90፤ 1998/90 ን ይመልከቱ፡፡

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... ............. . . . . . . . . . . . . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
Financial Services Technology 2020 and

Beyond: Embracing disruption
www.pwc.com/fstech2020
Collected by Dereje Asegedew
There are many large forces sweeping society,

from demographic and social changes to shifts
in global economic power. But one force in par-
81% of banking

ticular namely, a technological breakthrough
is having a disproportionate effect on financial
services. Here we look at the ten most import- CEOs are concerned
ant technology-driven influences that will shape
about the speed of
competition in this industry by the decade’s end.
technological change
1. Fintechs will drive the new business more than any other
model industry sector
For a long time, new market entrants found it

difficult to break into the financial services

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... ............. EDUCATIONAL . . . . . . . . . . . . . . .FORUM .......................................................................................... . . . . . . . . . . . . . . . . . . .
industry. The large well established financial to decentralized asset ownership and using in-
institutions that we call ‘incumbents’ had advan- formation technology to find efficient matches
tage in size, and their networks added a multipli- between providers and users of capital, rather
er effect. They had strong compliance system in than automatically turning to a bank as an inter-
place to manage ever increasing regulations and mediary.
they had the client base and resources to prosper
even in tough economic situations. Today, we tend to think of financial institutions
as the entities that initiate and manage transac-
Well, not any more. FinTech disruptors have tions from end to end, typically putting their own
been finding a way in. Disruptors are fast-mov- capital at risk. Increasingly, financial institutions
ing companies, often start-ups, focused on a may play either an intermediary role, with less
particular innovative technology or process in at stake, or just be one node in a network. This
everything from mobile payments to insurance. evolution will be driven by peer-to-peer transac-
And, they have been attacking some of the most tions, enabled by partnerships between today’s
profitable elements of the financial services val- financial services firms and a new breed of Fin-
ue chain. This has been particularly damaging to Tech companies. We have already witnessed this
the incumbents who have historically subsidised with peer-to-peer lending platforms, often in
important but less profitable service offerings. partnership with traditional banks, which exist
In recent PwC Global FinTech Survey, industry today in places such as the UK, US and China.
respondents told us that a quarter of their busi- Many of these new companies are designing and
ness, or more, could be at risk of being lost to building services that focus on a specific sliver
standalone FinTech companies within five years. of the value chain, or a specific subset of cus-
tomers. Consumers are getting smarter about
Global investments in FinTech more than tripled their options, too. Recent PwC research shows
in 2014, reaching more than $12 billion. In com- that 44% of those who earn less than $75,000
parison, banks spent an estimated $215 billion per year would trust a technology company for
on IT worldwide in 2014, including hardware, peer-to-peer payments, and this rises to 68%
software, and internal and external services. among earners making more than $100,000.
This is a material number, and because it is so
highly targeted, the FinTech spending will really A number of enabler companies target specific
make an impact. verticals like student debt, or connecting debtors
and investors. They are building platforms that
2.The sharing economy will be embed- enable ordinary individuals to raise funds and
ded in every part of the financial system draw credit lines from retail investors. Apple has
filed a patent application for “person-to-person
By 2020, consumers will need banking services, payments using electronic devices” that could
but they may not turn to a bank to get them. allow iPhone users to transfer money more eas-
Or, at least, may be not what we think of as a ily. This could potentially commoditize retail
bank today. The so-called sharing economy may banking even further. Instead of using relative-
have been started with a car, taxies and a hotel ly high cost bankers to broker the connection
rooms, but financial services will follow soon between those who have and those who want,
enough. In this case, the sharing economy refers the disruptors are using technology to make the
match: faster, cheaper, and maybe even better.
1
Partially taken from the article; For the full version visit the website.

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... ............. . . . . . . . . . . . . . . . .......................................................................................... EDUCATIONAL FORUM ...................
In developing markets, where branch networks Why blockchain matters
are typically less dense, particularly in rural ar-
eas, physical distribution will continue to evolve, There are two aspects of blockchain technology
and banks are more likely to partner with new that have captivated so many C-level executives,
entrants to create alternative distribution chan- start-up founders and private equity firms around
nels. For example, M-PESA in Kenya, handles the world. First, blockchain could make the fi-
deposits and payments using customers’ cell nancial services industry’s infrastructure much
phones and a network of agents. According to a less expensive. And second, the list of potential
recent report, the service is now being used by uses is almost limitless, from financial transac-
90% of the adult population in the country. tions to automated contractual agreements and
more.
3. Blockchain will shake things up
Blockchain systems could be far cheaper than
In the late 1990’s, when companies began to re- existing platforms because they remove an en-
alize the internet’s potential power, e-commerce tire layer of overhead dedicated to confirming
investment and experimentation soared. And de- authenticity. In a distributed ledger system, con-
spite the ‘dot com crash,’ it is unlikely that any- firmation is effectively performed by everyone
one would deny just how revolutionary the tech- on the network, simultaneously. This so-called
nology has proved to be. Today, there are curious ‘consensus’ process reduces the need for exist-
similarities with blockchain both in how compa- ing intermediaries who touch the transaction and
nies are being funded and how they are exploring extract a toll in the process. In financial services,
use cases. that includes those who move money, adjudicate
contracts, tax transactions, store information and
Many major financial institutions have some so on.
form of blockchain research effort underway.
In our recent PwC Global FinTech Survey, we The sheer range of applications has attracted
found that 56% of survey respondents recog- FinTech providers and legacy firms who hope
nized the importance of blockchain. At the same to develop solutions both narrow and broad. In
time, however, 57% say that they are unsure or the next three to five years, we see transaction
unlikely to respond to this trend. So, what should volumes and the associated profit pools shifting
you do? from intermediaries toward the owners of new
highly efficient blockchain platforms. These
Several industry groups have come together to transactions could include transferring digital
commercialize technology and apply it to real fi- or physical assets, protecting intellectual prop-
nancial services scenarios. We expect this surge erty, and verifying the chain of custody. In an
in funding and innovation to continue as block- era of cyber-crime and stringent regulatory re-
chain and FinTech move from a largely retail fo- quirements, a highly fraud-resistant system for
cus to include more institutional uses. And while protecting and authenticating almost any kind of
many of these companies may not survive the transaction could have a revolutionary impact on
next three to five years, we believe the use of the the financial services industry.
blockchain ‘public ledger’ will go on to become
an integral part of financial institutions’ technol-
ogy and operational infrastructure.

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4. Digital becomes mainstream

real estate; they turn to social networks for con-
Two decades ago, many large financial institu- tent, product reviews, opinions and referrals;
tions built ‘e-business’ units to ride a wave of and they look for opportunities to improve their
e-commerce interest. Eventually, the initial ‘e’ financial ‘health’. Financial institutions that sift
went away, and this became the new normal. through available data can engage millennials
Internet development and large technology in- by being ready with the right offer when rele-
vestments drove unprecedented advances in ef- vant life events present buying opportunities.
ficiency.
The data is everywhere,
and over the next five
Today’s digital wave has the same markers: sep-
years, hyper-connectiv-
arate teams, budgets and resources to advance a
digital agenda. This agenda extends from cus- By 2020 ity will give financial
institutions the oppor-
tomer experience and operational efficiency to
tunity to use it. It will
big data and analytics. In financial services, we
have seen this approach applied to payments, re- 20
There will be not only be computers
times more useable and smart devices that
tail banking, insurance and wealth management,
data than today record and communi-
and migrating toward institutional areas such as
cate data, but every-
capital markets and commercial banking.
thing from cars to cof-
fee machines. This is
5.Customer intelligence will be the most

important predictor of revenue growth referred to as the ‘Internet of Things’. Custom-
and profitability ers are learning more about the value of their
personal data. We expect to see them tendering
Customer intelligence used to be based on some out their information to banks, insurers and as-
relatively simple heuristics, built from focus set managers in return for the best deal, much
groups and surveys. These were proxies for real, as affinity groups already do. Within asset man-
individualized data about consumer behavior, agement, hyper-connectivity will also pave the
and the results were, pretty hazy. Now, technol- way for greater product customization. For life
ogy advances have given business access to ex- and health insurers, wearable computing (build-
ponentially more data about what users do and ing on the technology already widely used in fit-
want. It is an amazing opportunity for whomever ness sensors), could make the underwriting pro-
can use analytics to unlock the information in- cess more collaborative. For example, insurers
side, to give customers what they really want. may use the real time insights into policyholder
health and behavior to offer discounts, eliminate
For example, consider millennials: a key demo- the need for lengthy medical checks and simpli-
graphic, and one that banks generally have tar- fy the contract process.
geted through digital channels. Financial institu-
tions should look below the surface to examine With other developments, this will also intensi-
the behavioral attributes that drive consumer fy price competition and pressure on cost. Big
decisions. The following are key to millennial data analytics, sensor technology and the com-
behavior: they tend to build wealth as a result of municating networks that make up the Inter-
owning a small business, investments, or net of Things will allow insurers to anticipate
risks and customer demands with far greater

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... ............. . . . . . . . . . . . . . . . .......................................................................................... EDUCATIONAL FORUM. . . . . . . . . . . . . . . . . . .
precision than ever before. The benefits would
include not only keener pricing and sharper cus- ified outcomes. For example, target-date funds
tomer targeting, but a decisive shift in insurers’ automatically adjust the asset mix to a user’s ex-
value model from reactive claims payer to pre- pected retirement age. Personalized service and
ventative risk advisor. But it also implies that we tailored solutions were once the preserve of high
will see a divergence between companies who net worth clients. Now, technology is opening it
use data to their advantage and those who do up to mass affluent consumers, and beyond.
not. The winners will be able to price products
based on a deeper understanding of risk; the los- 6.Advances in robotics and AI will start
ers will merely compete on price, compressing a wave of‘re-shoring’ and localization
their margins with lower revenues and propor-
tionately higher payouts. When ATMs were first introduced, many cus-
tomers refused to use them. Gradually though,
The era of mass customization after time and training, they came to see that
ATMs could offer a better service experience.
As customers become more connected through And trust followed.
social media, they are becoming more demand-
ing and less loyal. Easier comparison and faster ATMs are robots. They are very simplistic, pur-
switching mean that relationships can be brief pose-built robots – but they provide consistent,
and largely transactional. We are already see- convenient, low-cost service and customers have
ing one click transfer, which moves all funds, grown to trust them. The same principles will
direct debit instructions and other services to the apply to other, more sophisticated financial ser-
new provider with very little effort on behalf of vices applications. There have been astonishing
the customer. And the demographic trends have advances in robotics and AI, machine learning
scary implications for conventional financial ser- and pattern recognition in recent years. Over the
vices companies because the youngest users are next five years, we will see a shift from stand-
the least loyal. Recent research has found that alone uses to full integration into a company’s
one in three millennials in the United States are business-as-usual activities.
open to switching banks in the next 90 days and
a similar proportion believe they will not even What robots can do
need a bank in the future. What explains this We are already seeing alliances between lead-
decline in customer ‘stickiness’? Service offer- ing incumbent financial services and technolo-
ings that feel generic and tools that have made gy companies, using robotics and AI to address
switching less painful. key pressure points, reduce costs and mitigate
risks. They are targeting a specific combination
Consumers now compare financial institutions of capabilities such as social and emotional in-
to digital leaders across all industries, as well telligence, natural language processing, logical
as to their industry peers, and they are falling reasoning, identification of patterns and self-su-
short. Customers have experienced first-hand pervised learning, physical sensors, mobility,
that digital commerce delivers speed and per- navigation and more. And they are looking far
sonalization, and this shapes their expectation beyond replacing the bank teller. Here are some
of financial services, too. Instead of a mortgage, of the capabilities shaping these sophisticated
insurance policy, or investment plan that broad- machines:
ly meets their needs, buyers want customized,
adaptive solutions that evolve and deliver spec- Cognition: The robot’s ability to perceive, un-

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... ............. EDUCATIONAL . . . . . . . . . . . . . . . FORUM .......................................................................................... . . . . . . . . . . . . . . . . . . .
derstand, plan and navigate in the real world. to find and integrate more industrial engineers
Better cognitive ability means robots can work into their talent plan. And they will need to learn
autonomously in diverse, dynamic and complex from industries such as manufacturing and tech-
environments. nology that have used robots extensively for de-
cades.
Manipulation: Precise control and dexterity for
manipulating objects in the environment. With 7. The Public cloud will become the
improvements in manipulation, robots will take dominant infrastructure model
on a greater diversity of tasks and use cases.
As significant as the shift toward cloud-based
Interaction: The robot’s ability to learn from computing has been, it is just getting started.
and collaborate with humans. Progress here –
such as support for verbal and nonverbal com- Today, many financial institutions use cloud-
munications, observing and copying human be- based software-as-a-service (SaaS) applications
haviour, for business processes that might be consid-
and learning from experiences – means robots ered non-core, such as CRM, HR and financial
will increasingly be able to work alongside hu- accounting. They also turn to SaaS for ‘point
mans. solutions’ on the fringes of their operations,
including security analytics and KYC verifica-
Already, some robots can sense the details of tion. But as application offerings improve and
their environments, recognize objects, and re- as COOs and CIOs get comfortable with the ar-
spond to information and objects with safe, rangements, the technology is rapidly becoming
useful behaviors. Over time, they will be able the way that core activity is processed. By 2020,
to perform not only more tasks, but more com- core service infrastructures in areas such as con-
plex tasks. Service robots are in the early stag- sumer payments, credit scoring, and statements
es of a long development cycle, and they still and billings for asset managers’ basic current
face some big technological hurdles. In the next account functions will be well on the way to be-
three to five years, we expect modest, evolu- coming utilities.
tionary gains. After that, though, we anticipate
rapid gains, as new models combine increas- Using the cloud to scale
ingly powerful and standard modular platforms
with the ability to learn. To take an even broad- What is behind this shift? Data storage costs
er view, robotic process automation is already have plummeted, facilitated by cloud-based in-
making inroads in financial services digital frastructure. This has made it easier to manage
operations, too. There are whole categories of ‘big data’ and apply sophisticated analytics,
work that had not been seen as cost effective to and it has also reduced the barriers to entry for
automate. However, with lightweight software new FinTech disruptors. According to the Inter-
‘bots’, workers are freed up to focus on higher national Data Corporation (IDC), public cloud
value activities. investments are growing quickly, spending on
private cloud is increasing, and traditional infra-
Thinking machines structure spending has plateaued. IDC estimates
that public cloud investments increased by 32%
We urge financial institutions to rapidly ramp up in 2015 to US$21.7 billion and private cloud
their efforts to understand and develop a vision investments grew in 2015 by 17%, reaching
for their use of robotics and AI. They will need US$11.7 billion. Overall, total cloud IT infra-

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structure spending grew 26% in 2015, reaching tomers, including the rapid growth of the Inter-
US$33.4 billion. To put that in perspective, this net of Things
is approximately one-third of all IT spending.
■ Heightened cross-border information security
Curiously, the sharing economy also plays a threats
role here. After all, some companies that have a
demonstrated competence in an area are choos- The Internet of Things (IoT):a case study
ing to sell it to others who need it. For example,
the payments infrastructure of many industrial, Expected IoT growth introduces a new set of
healthcare and smaller FinTech institutions are security risks and challenges that will require
being provided by conventional banks. These serious attention. IoT refers to the proliferation
banks are selling their infrastructure as a service of physical objects (devices, cars, houses, wear-
to others, and leveraging the cloud to do it. In ables) that contain sensors, software and the
our view, this provides an important source of ability to communicate. The opportunities are
revenue to these institutions. fascinating, like dishwashers that can schedule a
repair visit at the sense of an impending part fail-
Despite the cautionary note, we expect that the ure. But every chain has its weakest link, and the
next several years will result in an increasing company that maintains the dishwasher may not
adoption of the public cloud within the financial be as passionate about patching software vulner-
services industry. Like FinTech, robotics and abilities as you are.
digital, this will require new ways of thinking
for organisations and IT departments. But the Some industry sources see the number of IoT
benefits will certainly be significant too. devices deployed across the world reaching
about 25 billion by 2020. Until now, IoT growth
8. Cyber-security will be one of the in financial services has primarily occurred in
top risks facing financial institutions payments, insurance and banking. Banks are
forming partnerships with wearable technology
Financial services executives are already de- manufacturers to allow customers to make mo-
pressingly familiar with the impact that cy- bile payments using watches or fitness trackers.
ber-threats have has on their industry. In PwCs Insurers are using telematics technology to mon-
19th Annual Global CEO Survey, 69% of fi- itor driving habits and provide discounts to safe
nancial services’ CEO’s reported that they are drivers.
either somewhat or extremely concerned about
cyber-threats, compared to 61% of CEO’s across Cyber-security is the leading challenge to the
all sectors. adoption of IoT technology because insecure in-
terfaces increase the risk of unauthorized access.
Unfortunately, it is not likely to change for the Here are some of the concerns:
better in the coming years, due to the following
forces: Attack surface: Hackers can gain entry to a cor-
porate network through an IoT device.
■ Use of third-party vendors
■ Rapidly evolving, sophisticated and complex Perimeter security: IoT technology relies on
technologies cloud-based services, so it will be challenging to
■ Cross-border data exchanges implement effective perimeter defenses.
■ Increased use of mobile technologies by cus-

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Privacy concerns: The pervasiveness of IoT nience. For full scale providers who are trying to
data collection coupled with advanced analytic maintain visibility across channels, this is harder
capabilities could potentially result in consumer than it looks. But there are guidelines which can
privacy violations. help financial institutions identify and prioritize
threats, quickly detect and mitigate risks and un-
Device management: Many IoT devices cur- derstand security gaps. With a risk-based frame-
rently do not support implementation of strong work, companies can communicate and collabo-
security controls, and maintaining a security rate as necessary, decide how to design, monitor
baseline will only get harder as IoT devices pro- and measure their cyber-security goals, and keep
liferate. their data safe.
Fighting back 9. Asia’s rising demographics
As guardians of value, financial institutions have Around the world, the middle class is projected
long dealt with sophisticated threats. However, to grow by 180% between 2010 and 2040; Asia’s
cyber-crime is making the targets more appeal- middle class is already larger than Europe’s. By
ing than ever. Earlier this year, hackers made 2020, the majority share of the population con-
off with tens of millions of dollars from Ban- sidered ‘middle class’ is expected to shift from
gladesh’s central bank by using malware to gain North America and Europe to Asia-Pacific. And
access to accounts. With incentives like these, over the next 30 years, some 1.8 billion people
criminals will continue to look for similar vul- will move into cities, mostly in Africa and Asia,
nerabilities in the future. And there are ominous creating one of the most important new opportu-
signs that things could get worse, as certain nities for financial institutions.
threat actors now appear to be working together
to carry out attacks. These trends are directly linked to technolo-
gy-driven innovation. Initially, as developments
Fortunately, the same capabilities that make net- in agricultural technology improved labour pro-
works more vulnerable can strengthen defenses ductivity, rural workers began migrating to cit-
as well. Financial institutions can use big data ies in search of better opportunities. At first they
analytics to monitor for covert threats. This helps found jobs in capital-intensive industries like
them identify evolving external and internal se- manufacturing for the local market – and then,
curity risks and react much more quickly. And as technology drove quality improvements, for
the miniaturization of technology that has driven the global market. Meanwhile, advances in com-
Smartphone growth has also made biometric se- puting and telecommunications made it possible
curity more practical. For example, some banks for Western companies to offshore certain sup-
allow customers to access their accounts using port functions to places like the Philippines and
thumbprints, or even voice and facial recogni- India, creating relatively well-paying jobs. Over
tion – an approach that is more convenient for time, the trend has become self-reinforcing:
consumers and improves security. more jobs in cities have led to better technology
infrastructures in cities, which has attracted em-
Cyber-security is already important, and it will ployers who can now serve global markets. The
become even more significant for institutions result: more urbanisation and a growing middle
and their regulators in the future. The challenge class across the emerging markets.
will be to balance safety with customer conve-

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10. Regulators will turn to technology,
too
All companies have to balance where they are
Regulators are rapidly adopting a wide range with where they are going. In IT, this means sup-
of data gathering and analytical tools too. They porting both core ‘keep-the-lightson’ functions
are trying to learn more about individual insti- and large transformation initiatives. Financial in-
tutions’ activities and overall systemic activity. stitutions have a unique struggle though. Among
They also hope to monitor the industry more other things, these are IT-heavy companies, built
effectively and to predict potential problems over generations of technology. They have of-
instead of regulating after the fact. Examples ten grown through acquisition, operating with
of this include the supervisory procedures and relatively static products and geographies. Typi-
data requests tied to ‘stress tests’, asset quality cally, these operating models just are not nimble
reviews and enhanced reporting requirements enough to support where things are headed. The
coming out of Washington, London and Basel. overriding principle is that financial institutions
Using sophisticated analytical tools on large vol- and their IT organisations must be prepared for
umes of data, regulators can compare scenarios a world where change is constant – and where
and address potential issues before they become digital comes first. For this to happen, it is time
full-scale market problems. to really put legacy assumptions on the table. It
may appear logical to continue to support core
Six Priorities for 2020 mainframe systems, given the potential disrup-
tion and perceived cost of transition to some-
To benefit from these technology developments, thing different.
we recommend that financial institutions focus
on six key priorities: 2.Slash costs by simplifying legacy sys-
tems, taking SaaA beyond the cloud, and
1.Update your IT operating model to get adopting robotics/AI
ready for the ‘new normal’
By 2020, your operating model is probably go-

ing to look quite stale, even if it is serving you One of the stark-
well today. That is because what your financial est differences
institution offers to your customers is almost between a legacy
certain to change, in ways both large and small. financial services
This will require important changes across, and institution and a
around, the entire IT stack. FinTech upstart
comes down to
You may need different hardware, software, or fixed assets. In-
storage technology. You may also need to re- cumbents carry a
think the way you network the components. Of huge burden of IT
course, that is just a start. Will you build or buy? operating costs,
Does location matter? How will you make deci- stemming from
sions on what to do, as well as what not to do? layer upon layer of
Do you have the proper organisation to fit the systems and code.
new program, now and as it continues to evolve? They have bolt-
How will you know if you are getting it right? ed on a range of
one-time regularly

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This will require the integration of massive
fixes, fraud prevention and cyber-security ef-
amounts of situational data, much of it from mo-
forts too.
bile sources – smartphones, sensors, wearables
and so on – and the ability to tie it to operational
The ever-spreading cost base leaves less bud-
data such as transaction history and risk profil-
get available for capital investment into new
ing. If that is not difficult enough, you will need
technology driving a vicious cycle of increased
to make these connections in (or near) real-time,
operating costs. This is in clear contrast to the
so you can deliver ‘next-action’ recommenda-
would-be disruptors, who typically have far
tions and advice. Until now, most financial in-
lower operating costs, only buying what they
stitutions have focused on building their mobile
need when they need it.
resence. Going forward, we expect market lead-
ers to build on this foundation to deliver in-the-
It does not have to be that way. In fact, from our
moment information, advice and decision-mak-
experience working with a wide variety of cli-
ing power to their customers. This represents
ents in banking and capital markets, insurance
an mportant shift. Mobile originally developed
and asset management, we think many financial
as a nice-to-have add-on to electronic banking.
institutions are spending up to twice as much as
However, advances in networks and mobile de-
they need to on IT.
vices have flipped the hierarchy. Now, you need
to adopt a mobile-first view of features and de-
While every company is different, we generally
velopment.
see large savings opportunities for firms that do
the following: simplify legacy systems, adopt an
Understand the natural limits of
aggressive SaaS-based model and deploy robot-
artificial intelligence
ics and AI-based automation.
Artificial intelligence will transform custom-
3.Build the technology capacities to get
er interactions, and all users across companies,
more intelligent about your customers’
market segments, and individual customers –
needs
will value different things. But two issues will
be common to everyone, regardless of where
As we have noted, customer intelligence-and
they fall in the financial services industry: pri-
the ability to act in real-time on that intelligence
vacy and risk. For financial institutions that in-
is one of the key trends affecting the financial
tegrate AI into business processes, these need to
services industry and it will drive revenue and
be at the top of any priority list.
profitability more directly in the future. As this
happens, many of the attributes that drive to-
4.Prepare your architecture to connect
day’s brands, from design to delivery, could be-
to anything anywhere
come less important.
The FinTech trends that we have discussed in
By 2020, we expect that the ‘new normal’ oper-
this paper, from the cloud and peer-to-peer trans-
ating model will be customer- and context-cen-
actions to customer intelligence and cyber-se-
tered. That is, companies will change the way
curity concerns, all rely on the rapid transmis-
they interact with their customers based on the
sion and assimilation of data. Today’s systems
context of the exchange. They will offer a seam-
do this too, of course, but without the scale or
less omnichannel experience, through a smart
resilience that the future will require. To stay
balance of human and machines.
cost-competitive, and to have the flexibility that

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innovation requires, financial institutions will
need to update their infrastructure to make it
more agile and responsive. You will need an ar- decades. But growing number of cyber security
chitecture that can bend as requirements change ‘events’ in recent years has shown that the tra-
and interact with data and systems that could be ditional approach is no longer good enough. In
anywhere-because they will be. And at most fi- fact, in PwC’s Global State of Information Secu-
nancial institutions we know, this will require a rity Survey 2016, we found that there were 38%
significant reorientation. more security incidents detected in 2015 than
the year before.
Here are just a few of the endpoints that will
need to coexist and cooperate: Many financial institutions still rely on the
same information security model that they have
■ Enterprise databases, data warehouses, used for years: one that is controls and compli-
applications and legacy systems ance-based, perimeter-oriented, and aimed at se-
■ Cloud services curing data and the back office. But information
■ Business-to-Business (B2B) connec- security risks have evolved dramatically over
tions, linking to comparable systems at the past few decades, and the approach that fi-
partners and suppliers nancial institutions use to manage them has not
■ Business-to-Consumer (B2C) connec- kept pace.
tions, linking to apps, wearables and mo-
bile devices at an individual user level Finding the weakest link
■ Bring-Your-Own-Device (BYOD) con-
nections, using an enterprise mobility The Internet of Things (IoT) presents a good
strategy to link to employees and contrac- example of the pending challenges. On the one
tors hand, IoT will play an increasingly important role
■ Third party ‘big data’ sources in the way that businesses collect and aggregate
■ IoT sensors previously inaccessible data, leading to growth
and innovation. At the same time, IoT presents
The systems are diverse, and they are getting some ‘weakest link’ challenges, because many
more complex by the week. Now, financial insti- IoT devices do not support the implementation
tutions will need to layer on a more sophisticated of strong security controls. These insecure in-
view of federated identity management, because terfaces, with billions of potentially vulnerable
companies will be dealing with new classes of devices connecting to a corporate network, can
users. Systems architecture can be the key to increase the security risk for your critical data
balancing control and accessibility. That is, the and infrastructure.
way you assemble the technical building blocks
can protect your institution against cyberthreats And IoT is just one way in. There are more lay-
without adding needless barriers to discourage ers than ever, and this has expanded the attack
interaction. surface – the points through which adversaries
attempt to access data. In a sharing economy,
5. You cannot pay enough attention there may be many different providers touching
to cyber-security a disaggregated transaction that once would have
been handled by a single bank. And because dig-
Financial institutions have been addressing in- ital has become mainstream, the technology pe-
formation security and technology risks for rimeter has moved far beyond traditional control
boundaries, making information security

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exponentially more difficult. Meanwhile, ness issue and focus on becoming cyberresilient.
well-funded threat actors are launching techni- Develop specific cyber-risk appetite, both cor-
cally sophisticated assaults that, when success- porate-wide and by business. Understand and in-
ful, can siphon off valuable data undetected for corporate baseline regulatory requirements into
months, or even years. current environment, and include cyber-protec-
tion as a key priority in the organisation’s overall
Do not forget physical security regulatory program.
With all the risks posed by new, virtual entry Build and execute a strategic cybersecurity
points, it is easy to get distracted and neglect the roadmap: Organisations should understand the
importance of physical security management. evolution of cyber-threats and threat actors on
Physical and virtual security must be considered an ongoing basis, leveraging cyber-threat intel-
together. While information is virtual, it is stored ligence from a number of internal and external
in a physical location, and skilled hackers will sources. They should then develop and execute
find the weakest link, either physical or virtual. a plan to mitigate exposure to these threats, mak-
We have found that a surprising number of firms ing adjustments to their risk control posture as
do not put enough effort into identifying their the threat landscape changes.
infrastructure weaknesses, let alone remediating
them; this compromises even the best cyberse-
curity program. Establish a commercially reasonable cy-
ber-security capability: Cyber-protection pro-
We recommend executive management focus on grams should be tailored to the risk profile of the
the following: organisation as well as the expectations of cli-
ents, shareholders and regulators. Organisations
Proactively manage cyber-risk and should understand how they compare to their
regulation: Treat cyber-risk as a strategic busi- peers and relevant industry standards. In 2020,

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as more services will be provided by vendors, New tools for fighting cybercrime
cyber-security programs will need pay more at-
tention to third parties, too. With the right tools in place, financial institu-
tions can improve their ability to manage cy-
Develop a world class cyber-response: Organ- ber-risk. For example, financial institutions can
isations should adopt an enterprise risk manage- deploy state-of-the-art data mining tools and
ment approach, focusing on incident response other technologies to detect anomalies in securi-
and crisis management as a key priority. Scenar- ty and fraud applications, using data from both
io planning should take place with the executive structured and unstructured sources. We also
management team and attack simulations should note that while the trend toward cloud-based
be conducted on an ongoing basis. The goal services can introduce new risks, it can also sup-
should be cyber-resiliency: being able to defend port a financial institution’s defensive strategy.
against and respond to cyber-risks that have be-
come a fact of life. Cloud-based cyber-security can improve intel-
ligence gathering and threat modeling, block
Acquire, develop and retain key talent: The attacks more effectively, help different teams
organisational model for cyberprotection should (or organisations) collaborate and learn more ef-
be adjusted to focus more on enterprise and fectively, reduce the lag time between detection
business risk management. Organisations should and mediation and create secure communication
then determine the required skills, capabilities channels. When you factor in potential cost re-
and resource requirements before hiring the nec- ductions, cloud enabled cyber-security becomes
essary talent to fill any gaps. all the more compelling.
Cyber-security is a large problem and it is not
Align cyber-security team with business risks: going away. Despite prevention and authenti-
Establish governance and reporting lines for cy- cation efforts, we can virtually guarantee that
ber-security, reflecting its role as a technology anomalous and unauthorized activity will con-
risk function. Make the executive team account- tinue to occur. But with the right tools in place,
able for making decisions about IT risks. Seg- you can see it when it happens and remediate it
regate broader budgeting and funding from the quickly. With a structured approach to cyber-se-
technology budget. Develop appropriate linkag- curity, financial institutions will also be more
es to both the risk and technology functions. prepared as threats evolve. This will help them
to avoid financial damage, negative publicity,
and loss of customers’ trust, any of which could
have catastrophic effects.
___________________________________ ,, _________________________________

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... ............. . . . . . . . . . . . . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
Clip its wings and ask the bird to fly

By Simon Heliso Kuka (PhD.)
The following comes more from the heart than future comprising joy and excitement but also
the head. It is an effort to cross two parallel, es- fear and definitely anger. These are both the nu-
sentially turbulent, waters regarding issues in ance of tensions and outburst globally but are
leadership. Does one want to tame the turbu- also a reflection of the changing environment,
lence first and ensure a safe exit, or build series structure and transformation of life.
of bridges, or just try and swim across? The par-
allel currents refer to change and diversity. How do company executives and leaders cope
with the requirements for strategies that help
Unprecedented changes are sweeping not just ride in the crust of this change?
Ethiopia but are pervasive at a global scale; pri-
marily in the political field but also in several The second raging waters pertain to diversity.
other facets, in particular as a derivative of the Much as many yearn to see and rather foolish-
apparently rapturous political discourse. Not ly labor to unleash factory-perfect people and
all change is a vuvuzela of doomsday. Actually work environment, the world is subdividing like
some change comes from nostalgia for a better a zygote; adamantly refusing to stay unique and

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.. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. ..
... ............. point . . . . .of . . . view
. . . . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
unified but scandalously steadfast in sticking to- tude is carried to the corporate drawing boards,
gether. To drive the point home, just one exam- to factory floors and service outlets. Onlookers
ple of this outrageous current is in order. feel like it is all about the adrenaline; if it is not
exciting, it is not worth doing. Yet, against perva-
In today’s increasingly diverse world, the work- sive perceptions that the two would clash, based
force is also fundamentally transforming. The on competition over limited jobs and opportuni-
diversity in the workforce is not just technolog- ties for progress, studies have long demonstrated
ical as often understood, while technology does complementarity.
create differences. First, there is multi-genera-
tional staff – old and new mixed; age-wise. In- How do leaders and business executives take
creasing life expectancy has pushed up the re- their people and organizations across these rag-
tirement age globally; thus aging workforce is ing waters? To begin with the end in mind, I
mingled with plethora of youth just joining. humbly submit that, leadership today requires
flexible, creative and purpose-driven support
While it may be possible to argue that the le- that inspires people.
sions in the age structure of the workforce, like
beauty, are only skin deep, it is the way they act How do business, political and societal leaders
that magnifies the distance. Older folks are sed- measure in that grid? Looking for answers to
entary; preferring a more tranquil environment this question, among current corporate and oth-
in the office, coupled with hard work. They qui- er leadership circles, promises a disappointing
etly churn the products, as they used to, for ages. journey. A sketch might help in painting the pic-
Their dusty, old manuals are learnt by heart and ture.
were referred to as often as needed; deviations
causing stress are meticulously checked out; and Apparently, it is a raging debate: to clip or not
most importantly, the value is predictably and to clip the wings of pet parrots. Nature provid-
solidly provided, always. ed the parrot with wings so that it can fly. But,
owners want stay at home birds; feeling entitled
Younger ones enjoy virtual experience; prefer- to the entertainment parrots give. After all, they
ring smarter solutions as compared to ‘sweat- spent money to get the chatty budgies; didn’t
ing it out.’ Moreover; younger ones are mobile they? Money speaks louder and it has shown
– both upwardly and mostly, horizontally. Even that time and again.
when not moving, independence is a highly trea-
sured substance. They draw as well as create A parallel is apparent in companies and organi-
incredible value in smaller but dispersed and zational levels; and for that matter even at family
networked numbers. Work is done everywhere levels. Leaders tend to clip the wings of people.
and every time. A fixed schedule and destination Caged, subdued subjects are seen as producing
that involves things like going to the office or a faster results. Folks who raise their head above
workplace, in the minds of younger folks, con- the waters risk colliding with the wardens of or-
jures up the image of sheep being herded. thodoxy, some, self-appointed. Even before any
change is conceived, people are bombarded with
Elsewhere, the youth create value in essential- billboards sporting company mission and ‘core
ly ‘weird’ ways. They ask rather than answer. values’ almost ubiquitously starting with “integ-
Structure is defined after actions are taken; rity” when the core of the company or organiza-
guidebooks come after deployment. This atti- tion screams otherwise. A couple ideas are seen
one too many. Conformity is a most sought after

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... ............. . . . . . . . . . . . . . . . .......................................................................................... point of view . . . . . . . . . . . . . . . . . . .
commodity. This is why we see various decisions
such as giving precedence to faster yielding ac-
quired capabilities rather than in-born, character shared vision and fostering of genuine owner-
building and fundamental choices of the work- ship, may be a call leaders are overdue making.
force. Faster, however, may not be better; and That may help staff to tend to exhibit reduced
most certainly is not the optimal. skiving, better quality, higher output, higher pro-
ductivity and ultimately creating satisfied cus-
Alas; isn’t that clipping the wings? tomers and higher profit.
Unfortunately, that looks like the natural re- There may be many facets to this but let’s, for
sponse of leaders; especially with bias against this instance, zoom on company strategy of deal-
the younger folks. Despite several research ing with people. A “retention” mentality priori-
and anecdotal evidence showing the beneficial tizes incentives, bonuses, entitlements and short
effects of engaging the workforce rather than term gains. Leaders tend to be overly transac-
disenfranchising, the later seems to hold sway. tional in getting short term successes. Retention
When leadership stifles transparency, promotes is wedged between give – and – take approach
disconnect from peers and denies recognition, and can hardly extract itself from the inscrip-
it is tantamount to clipping the wings of a bird tion. The parrot is fed better when it learns a few
that otherwise would fly. Higher rates of absen- tricks. Soon, though; the parrot will get fat, or at
teeism, turnover and dissatisfied customers are least look that way; and the fat parrot may not
the indicators of birds whose wings are severely sound as sweet.
plucked out.
Alternatively, inspirational approaches seek to
Granted, birds carry owners’ money in good transform personal and intrinsic motives of staff
measure in their wings and a reckless flight might members through building genuine ownership,
cause damage. But to claim that owners know recognition, customized space for existence and
about how wings are used better than the birds not just meaningful work but a sense of achieve-
themselves is rather outlandish. What should be ment and emotional satisfaction beyond the of-
done then? Let’s submit therefore to shift focus fice arena. The parrot’s wish to speak or emulate
from the bird to the flying space. A rather bold is because there is something in it – more than
outlook would be to accept the challenge of cre- a few prickles of crumb. People’s emotion, the
ating a bird that can fly better, and also talk and wish to define a place for oneself in society and
entertain better. being a role model, be it for just one person, is
something innate in every individual. Ingenious
A working atmosphere obsessed with staff re- leaders embrace, nurture and monitor these in-
tention and control may be an ill-conceived ternal makeups through defining and clarifying
panacea in these days. In its January 2017 issue, shared values, cultivating opportunities for rel-
the Forbes magazine described study results on evance, emulating trust and encouraging mea-
how employee engagement strategies based on sured risk taking that have potential for high
“retention” mentality can backfire. The alterna- value-based rewards. That is creating both the
tive hence is a radical stance of allowing staff space and better ability to fly.
members to use their wings, coupled to instilling

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... ............. . . . . . . . . . . . . . . . .......................................................................................... . . . . . . . . . . . . . . . . . . .
ባላደራ
አጭር ልብወለድ
ባንተአብ አብይ
መገናኛ አካባቢ ከሚገኘው ባለ13 ፎቅ ህንፃ ጣራ ላይ ጊዜ ሰማዩን ተመለከተ፡፡ ተውም በልም የሚለው ነገር
ቆሞ ቁልቁል ተመለከተ ከፍተኛ ቁጥር ያለው ህዝብ የለም፡፡ በፀጥታ ምድርን የሚመለከት ነጭ ደመና ብቻ
ይርመሰመሳል፡፡ ሰራተኛ፣ ፖሊስ፣ ታክሲዎች፣ ቅንጡ አትኩሮ ይመለከተዋል።
መኪኖች፣ የመንገድ ላይ ነጋዴዎች ሁሉም መንገዱን
ሞልተው አጨናንቀውታል፡፡ አንገቱ ላይ ያሰራት ከረቫት “ጥሩ ሀሳብ እንዳልሆነ ልትነግረኝ ከሆነ አትድከም
በሚነፍሰው ንፋስ ከደረቱ ላይ ተነስታ ትንሳፈፋለች አስቀድሜም አስቤበታለሁ” አለ። ደመናው ይሰማኛ
በቀኝ እጁ .... የሚል መፅሀፍ ይዟል። ከዩኒቨርሲቲ ብሎ ባሰበው የድምፅ ልክ ጮክ ብሎ “ካንተ በላይ
ተመርቆ እስኪወጣ ድረስ ከእጁ ተለይታ አታውቅም። ምድርን የሚታዘብ ያለ አይመስለኝም ተመልከት
የፋይናንስ ነፃነትን ለመጎናፀፍ ያስችላል የተባሉ እስኪ ህዝብ አዳምን እንዲህ የሚራኮቱት ለምን
መፅሀፍትን ሲያነብ ከውስጡ የሚገፋው የመነሳሳትና ይመስልሀል?” ደመናው ዝም ስላለው ይሁን
የማሸነፍ ስሜት ይህ ነው ብሎ አይገለፀውም፡፡ ከማይመልስለት ግኡዝ አካል ጋር እያወራ መሆኑ
ታስቦት ፈገግ አለ “ለካ አትናገርም፡፡ ለነገሩ ከሰማህ
ወደህንፃው ጣራ የሚያወጣው የብረት መዝጊያ ይበቃኛል፡፡ አየህ ለኔ መኖርና አለመኖር ቁጥር
ደጋግሞ ይንኳኳል፡፡ የፈተና ውጤት ከተመለከቱ በኃላ ትልቅ ምክንያት ነው፡፡ የገንዘብ ቁጥር ምን ያክል
የተፈጠረበትን ስሜት በማየት ሊያደርገው ያሰበውን ሀይል እንዳለው ያወቅኩት ባባቴ ነው፡፡ አባቴ የባንክ
የገመቱና የህንፃው ጥበቃዎቸ ህንፃው አናት ላይ የቆመ ሰራተኛ ስለነበር ሁልጊዜም ቤት ውስጥ የቢዝነስ
ሰው እንዳለ ሲነግሯቸው እርሱ ስለመሆኑ ያልተጠረጠሩ ወሬዎች ብቻ ነበር የሚወሩት፡፡ ዜናው ቢዝነስ፤
ጓደኞቹ ወደሞባይል ስልኩ ደጋግመው እየደወሉ ነው። ወሬው ቢዝነስ፤ የሚመጡት እንግዶች የፋይናንስ
ሊያነሳላቸው ፍቃዱ አልነበረም፤ የእግሩን ጫማ ወደ ሰዎች፤ በቃ ቤታችን የመዋዕለ ንዋይ ስቱዲዮ ነበር
ህንፃው ጫፍ ይበልጥ አስጠጋው ዘበኞችና ሌሎች የሚመስለው፡፡ ታዲያ አባቴ ሁሌም ጠዋት ላይ
ከህንፃው ስር ቆመው ወደላይ የሚመለከቱ ሰዎች ይጠራኝና የባለምባራስ ማህተመ ስላሴን ዝክረ ነገር
ድንክ ድንክ መስለው ይታያሉ፡፡ ከህንፃው ቁልቁል የተሰኘች መፅሀፍ ገልፆ “እስኪ ይቺን አንብባት?”
የመወርወር ስሜቱ ሲጨምር ቀና ብሎ ለመጨረሻ ይለኛል፡፡ ሁሌም የሚያስነብበኝ ደግሞ አንድ ገፅ

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... ............. . . . . . . . . . . . . . . . .......................................................................................... LITERATURE FORUM ...................
ላይ ያለ ተመሳሳይ ሀሳብን ነበር፡፡ ከጊዜ ብዛት አባቴ አንዲት ሀገር በዘመናዊ የገንዘብና ንግድ ስርዓት
አንብብልኝ ብሎ ሲጠራኝ ጫማ እያደረግኩም ይሁን ኢኮኖሚዋን መገንባት ካልቻለች በሌላው አለም
ሌላ ስራ እየሰራሁ በቃሌ እወጣለት ጀመር፡፡ “ምን ተገልላ እንደተረሳች ትቆጠራለች፡፡ ንግድህንና
እንደሚል ታውቃለህ?” ቀና ብሎ ስለሚያወራ አንገቱ የገንዘብህን አቅም ከሌላው አለም እኩል ለእኩል
ላይ የህመም ስሜት ተሰማውና ዝቅ ብሎ ወደ ታች ማስኬድ ካልቻልክ የኋላ ጉዞ ነው የሚሆን … ይለኝና
ተመለከተ፡፡ ከህንፃው ስር አንድ ፖሊሶችን የጫነች ሌላም ምክር ካለ አድምጬ ወደምሄድበት እሄዳለሁ፡፡
መኪናና አምቡላንስ እያጓሩ መጥተው ቆሙ።
የተሰበሰበው ሰውም በርከት ብሏል፡፡ ሁሌ የማነብለት ወደ ህንፃው ጣራ የሚያስወጣው በር በከፍተኛ ሀይል
መፅሀፍ እንዲህ ይላል፡፡ ሲደበደብ ስለሰማ ዞሮ ለመመልከት ሲሞክር ድንገት
ሚዛኑን ስላጣ ወደታች ሊወረወር ሲል እንደምንም
“አዋጅ” ተንገዳግዶ ለጥቂት ተረፈ፡፡
ሞአ አንበሳ ዘእምነገደ ይሁዳ ምኒሊክ ሥዩመ
እግዚሐብሔር ንጉሰ ነገስት ዘኢትዮጵያ ሊወድቅ መጥቶ ላለመውደቅ ያደረገው ጥረት ለራሱ
አሳፍሮት ቀና ብሎ ደመናውን ገረመመና “መውደቁን
ከዚህ ቀደም ነጋዴም ወታደርም ባገር የሆንክ ሁሉ ፈርቼ እንዳይመስልህ! የጀመርኩትን ልጨርስልህ
በየገበያውና በየመንገዱ በየሥፍራውም ሁሉ በጥይት ብዬ እንጂ መወርወሬ የማይቀር ነው፡፡ ይገርምሀል
ስትገበያይ ትኖር ነበር፡፡ አሁን ግን በኔ መልክና ስም ከጊዜ ብዛት የአባቴ ወሬ እየናፈቀኝ መጣ ስለ ስኬታማ
የተሰራ ብር፣ አላድ፣ ሩብ፣ ተሙን እና መሐለቅ የንግድ ሰዎች ስለሚሰራበት የኢትዮጵያ ንግድ ባንክ
አሰናድቼልሃለው፡፡ ጥይት ከቤቱ ያለው ሰው ሁሉ ታሪክ አንድ ባንድ ያጫወተኝ ነበር፡፡ ምናልባት
እጅምሩክ እየወሰደ ለጅምሩክ ሹም ይሽጥ። ጥይትም ከቁጥርና ከሚሰራበት ባንክ ጋር የጠለቀ ፍቅር የያዘኝ
ለመግዛት የፈለገ ሰው እጅምሩክ እየሄደ ይግዛው፡፡ ከዚያ በኃላ ሳይሆን አይቀርም፡፡”
ይህንንም አዋጅ አፍርሶ ጥይት እርስ በእርስ ሲሻሻጥና
ሲገዛ የተገኘ ሰው ሻጩም ገዥውም ስለቅጣታቸው ገና በ15 አመቴ ባንኩ የኢትዮጵያ መንግስት
በአንድ ጥይት አንድ ብር ይከፍላሉ። ባንክ በሚል ስያሜ ሚያዝያ 7ቀን 1936 ዓ.ም
ተመስርቶ ሙሉ የባንክ አገልግሎት በመስጠት
ደመናው በሚሰማው ነገር የተገረመ ይመስል ቅርፁን ስራውን ሲጀምር 43 ሰራተኞችና 2 ቅርንጫፎች
እየለዋወጠ ይንቀሳቀሳል፡፡ ይሄን ካነበብኩለት ብቻ እንደነበሩት ለጓደኞቼ በየቀኑ የምተርከው እኔ
በኋላ“አየህ ልጄ ምኒሊክ ይህን አዋጅ ያስነገሩት ነበርኩ፡፡ የሚገርመው የኢትዮጵያ ንግድ ባንክ ተብሎ
ከአክሱም ዘመነ መንግስት ውድቀት በኋላ ለመጀመሪያ ባዋጅ ለብቻው ከተቋቋመበት ጊዜ አንስቶ በየአመቱ
ጊዜ በመላ ኢትዮጵያ ለመገበያያ ያገለግል ዘንድ የሚያስመዘግበውን ከፍተኛ ትርፍ የእያንዳንዱን
ያሰሩት ብር በህዝቡ ዘንድ ተቀባይነት ያገኘውን የማርያ አመት ትርፍ በቃሌ ነበር የያዝት። የሆነ ጊዜ አባቴ
ትሬዛን ብር ሊተካ ባመቻሉ ነው፡፡ ይገርምሀል ገንዘብን የሚሰራበትን ባንክ ሊያሳየኝ ሊወስደኝ መሆኑን ነገረኝ
መጠቀም የጀመርነው በአክሱም ዘመነ መንግስት በቃ እንደዚያን ጊዜ ተደስቼ አላውቅም። የማላውቀው
ጀምሮ ነበር፡፡ ኢትዮጵያ በዘመኑ በአለም ላይ ከነበሩ ስሜት ነበር ይንጠኝ የነበረ፡፡ አባቴ ቢሮ ስደርስ ሰራተኞቹ
አራቱ ኃያላን መንግስታት አንዷ ነበረች። በገንዘብና በሙሉ ልክ እንደ አባቴ እና እንደኔ ሙሉ ልብስ የለበሱ
ንግድ ስርዓቷም እጅግ የዘመነችና የተራመደች ትልቅ ሲሆን፣ ሁሉም በጥድፊያ ነበር የሚሰሩት፡፡ ግማሹ ብር
ሀገር! ይቆጥራል፤ ግማሹ ይቀበላል፤ ኮምፒውተራቸው ፊት
ተቀምጠው ያለማቋረጥ ብር የሚቆጥሩ ሰራተኞች
ጊዜን ጊዜ ሲወልድ የአክሱም መንግስት ወደቀና ይታያሉ፤ የቁጥር ርሀቤን ለማስታገስ ከዚህ የተሻለ
ተመልሰን መገበያያዎቻችንን እርግፍ አድርገን ትተን ቦታ እንደማላገኝ በዛው ቅፅበት ነበር ያወኩት፡፡”
በአሞሌ ጨው በእህልና በጥይት ሸቀጥ መለዋወጥ
ጀመርን፡፡ አየህ ይሄንና ሌላውን እውነት ይዞ አንድ
ኤድዋርድ ጊቦን የተባለ ፀሀፊ The rise and
fall of roman Empire በሚል መፅሀፉ
ኢትዮጵያውያን ሌላውን አለም ረስተውና በሌላው
አለም ተረስተው ለሺህ አመታት አንቀላፉ ብሎ ፃፈ፡፡
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... ............. LITERATURE
. . . . . . . . . . . . . .FORUM . .......................................................................................... . . . . . . . . . . . . . . . . . . .
ፖሊሶቹ የህንፃው ጣራ በር አልከፈት ሲላቸው እንደገና ወደታች ተመለከተ፡፡ በርካታ ቁጥር ያለው ሰው አንጋጦ
ታች ወርደው በድምፅ ማጉያ የሆነ ነገር ሲናገሩ ይመለከተዋል፡፡ ፖሊሶችም የሚያደርጉት ጠፍቷቸው
ሰማና ወደታች ተመለከተ፡፡ ሰዎች ከቅድሙ በጣም ከወዲያ ወዲህ ይንቆራጠጣሉ፡፡
ጨምረዋል፡፡ ፎቶግራፍ ማንሻ ካሜራ የያዙ ሰዎችም
በየመሀሉ አንጋጠው እርሱን ለመቅረፅ ሲሞክሩ አየና “አየህ፣ አባቴ ስንት ያለለትን የልጅነት ምኞቴ ከሆነው
ፊቱን ወደ ደመናው መለሰ ባንክ ለመስራት ዛሬ ፈተና ወስጄ ወደቅኩ። ምኞቴም
“...የዛው ቀን ምሽት አባቴን ለኢትዮጵያ ንግድ ህልሜም አብሮኝ ነው የሞተ፡፡ አባዬን ምን ብዬ
ባንክ መስራት እፈልጋለሁ” ስለው “ለምን?” ብሎ ልነግረው ነው፡፡ እንደውም ታውቃለህ አሁኑኑ ከዚህ
ጠየቀኝ፡፡ ቁጥር ስለምወድ ማለቱን ፈርቼ ዝም ስለው ህንፃ ለመወርወር ከዚህ በላይ መቆየት የለብኝም”
እንዲህ አለኝ ደመናው በንፋስ እየተበተነ የቀደመ ቅርፁን እያጣ
“...አየህ ልጄ ይህ ባንክ ለኔ ባንክ ብቻ አይደለም። መጥቷል ዮናስ አይኖቹን ጨፈነና አንድ እግሩን
ሀገራችን በኢኮኖሚ እድገት ጎዳና ትራመድ ዘንድ ግዙፍ ከህንፃው ጫፍ ላይ አነሳ። የቀዝቃዛ ነፋስ ቅዝቃዜ
ፕሮጀክቶችን በመደገፍና በማስተባበር በሀገራችን የፊቱን አጥንት ዘልቆ ተሰማው። እጆቹን ግራ ቀኝ
እድገትና ልማት ተገቢውን ሚና ሲጫወት ነው የኖረው፡ ዘርግቶ ቁልቁል መወርወር ጀመረ፡፡
፡ ወደፊትም ይህንኑ በማጠናከር የአገልግሎት ጥራቱን
የጠበቀ አለም አቀፍ ተወዳዳሪ ባንክ ለመሆን እየሰራ ከታች የተሰበሰበው ህዝብ በከፍተኛ ድምፅ ሲጮህ
ነው፡፡ የዚህ የሀገር አለኝታ የሆነ ባንክ አካል ለመሆን ይሰማዋል የሚፈጠፈጥበትን ቅፅበት በልቡ
ከፍላጎት በላይ ቁርጠኛ የሀገር አገልጋይነት አቋምም እየቆጠረ ቁልቁል ሲምዘገዘግ ድንገት ሀይለኛ ብርሀን
ያስፈልጋል፡፡ ባንካችን በቀደሙ ሰራተኞች ያላሰለሰ የጨፈናቸውን አይኖቹን ዘልቆ አጥበረበረውና
ጥረት ባንኩ በመላ ሀገራችን ከ1ሺ በላይ ቅርንጫፎችን አይኖቹን ቀስ አድርጎ ከፈታቸው፡፡
ከፍቶ አገልግሎት እየሰጠ ይገኛል፡፡ የሰራተኞችም
ቁጥር ከ33ሺ በላይ ደርሷል ስራውን ሲጀምር ከ250 “ ዮናሴ እንደምን አደርክ? ምነው ዛሬ ደግሞ እንዲህ
ሚሊዩን ብር ያልበለጠ ሀብት ይዞ ነበር ዛሬ በአስደናቂ ድምፅህ ከክፍልህ አልፎ እስኪሰማ ያቀባዠርሀልሳ?
ፍጥነት ሀብቱን ግማሽ ትሪሊዩን አድርሷል፡፡ ደግሞስ ፈተና አለብህ አይደል እንዴ? በጠዋት ተነሳ
እንጂ፡፡ አባትህም ከሳሎን እየጠበቀህ ነው ፈተናው
የ75 አመታት ጉዞው ለእርሱም ለታማኝ ደንበኞቹም ቦታ ድረስ እኔ ነኝ የምሸኘው ይላል” የዮናስ እናት
ስኬትን የተሞላ ነው፡፡ ስለዚህም ፍላጎት ቢያድርብህ ተራ በተራ ሁሉንም የክፍል መጋረጃዎች ገላልጠው
ብዙም አይገርመኝም፡፡ ማንም ሰው ስኬታማ ለመሆን መስኮቱን ከፈቱና ወጡ፡፡ ዮናስ ግራ በተጋባ መንፈስ ጣራ
ስኬታማ ከሚያደርግ ቦታ መቆምን ይፈልጋልና” ከዚያ ጣራውን ተመለከተ በህይወቱ የትኛውም ፈተና እዲህ
በኃላ አባቴ ቶሎ ተመርቄ ወጥቼ ባንኩ ውስጥ እንድሰራ አሳስቦት አያውቅም። ያየው ህልም እያስገረመው ወደ
ከፍተኛ ፍላጎት አደረበት፡፡ ውጭ በመስኮት ተመለከተ። አጥብያውን ተከትሎ
በአዲስ አበባ ምስራቅ በኩል ብርሃን ከለበሰ ደመና
ውስጥ እየተፍለቀለቀች የወጣችው ፀሀይ ፊቱ ላይ
ብርሀኗን ፈነጠቀችበት፡፡
የባንኩን 75 ዓመት የምስረታ በዓል አስመልክቶ

በተዘጋጀው የሥነ-ጸሑፍ ውድድር 3ኛ የወጣ

2020 V8 No2 8ef1d14ab6

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2020 V8 No2 8ef1d14ab6

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21-28

በዚህ መጽሔት በቀረቡ መጣጥፎች

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 1

MESSAGE FROM THE

2 ሙዳየ ንዋይ I MUDAYE NEWAY

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 3

4 ሙዳየ ንዋይ I MUDAYE NEWAY

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 5

Factors Influencing Customer Loyality in

1. INTRODUCTION Banks must develop strategies that help in

6 ሙዳየ ንዋይ I MUDAYE NEWAY

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 7

8 ሙዳየ ንዋይ I MUDAYE NEWAY

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 9

10 ሙዳየ ንዋይ I MUDAYE NEWAY

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 11

12 ሙዳየ ንዋይ I MUDAYE NEWAY

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 13

Human Capital Development in the Ethiopian

1. Introduction of commercial banks in Ethiopia in light of the

14 ሙዳየ ንዋይ I MUDAYE NEWAY

2. Review of Related Human Capital Theory refers to the aggregate

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 15

16 ሙዳየ ንዋይ I MUDAYE NEWAY

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18 ሙዳየ ንዋይ I MUDAYE NEWAY

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20 ሙዳየ ንዋይ I MUDAYE NEWAY

የሚንቀሳቀሱ ንብረቶችን በዋስትና

መግቢያ የብድር አቅርቦት ውስኑነትም ባንኮች ብድርን

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 21

22 ሙዳየ ንዋይ I MUDAYE NEWAY

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24 ሙዳየ ንዋይ I MUDAYE NEWAY

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26 ሙዳየ ንዋይ I MUDAYE NEWAY

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ማጠቃለያ እንዳይፈጠር የበይነ መረብ ደህንነቱን ማረጋገጥ

28 ሙዳየ ንዋይ I MUDAYE NEWAY

Financial Services Technology 2020 and

There are many large forces sweeping society,

81% of banking

For a long time, new market entrants found it

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 31

32 ሙዳየ ንዋይ I MUDAYE NEWAY

4. Digital becomes mainstream

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34 ሙዳየ ንዋይ I MUDAYE NEWAY

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Fighting back 9. Asia’s rising demographics

የኢትዮጵያ ንግድ ባንክ ICOMMERCIAL BANK OF ETHIOPIA 37

By 2020, your operating model is probably go-

38 ሙዳየ ንዋይ I MUDAYE NEWAY

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40 ሙዳየ ንዋይ I MUDAYE NEWAY

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42 ሙዳየ ንዋይ I MUDAYE NEWAY

Clip its wings and ask the bird to fly

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44 ሙዳየ ንዋይ I MUDAYE NEWAY

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