Revised CATS Procedure Dec.20161

Recommendations

Info

COMMERCIAL BANK OF ETHIOPIA December 1, 2016 c) levy a fine of 3% of the amount appearing on the cheque dishonored for the second time but not exceeding Birr 25,000 (twenty five thousand Bin.). 5.2.2 An account holder whose incident has been recorded in the Dishonored Cheque Register in line with 5.2.1(a) hereinabove but who has fulfilled all obligations related to dishonored cheques which includes full settlement of the claims or blocking of equivalent amount and has not drawn other dishonored cheques for the third time at least for 24 consecutive months following the date of presentation of the first dishonored cheque to the bank, may be deleted from such register and be considered as clean. 5.2.3 A dishonored cheque presented to the bank before deleting the name of the drawer from the Dishonored Cheque Register in line with 5.2.2 hereinabove shall be treated as the third time dishonored cheque. 5.3. Dishonoring a Cheque for the Third Time 5.3.1. Upon dishonoring a cheque drawn by a drawer for the third time within 24 consecutive months following the date of presentation of the dishonored cheque to the bank for the first time under 5.1.1 hereinabove, the bank shall: a) record the incident for the third time in the Dishonored Cheque ؛Register b) close the account, levy a fine of 5% of the amount appearing on the cheque dishonored for the third time but not exceeding Birr 50,000 (fifty thousand Birr) and make every effort possible to collect all unused cheque leaves & pads from the drawer and report same to the National ؛Bank and c) keep the cheque account of such person closed at all its branches. 5.3.2. A bank shall deny service of cheque account operation using a cheque to a customer whose name has been circulated by the National Bank in line CATS Procedure | j
COMMERCIAL BANK OF ETHIOPIA December 1, 2016 with sub-article 10.2 of these ؛directives or may allow such customer to operate his cheque account in line with restrictions stipulated under 5.3.3 and maintain the. List in line with sub-article 7.3 of these directives. 5.3.3. A bank may, after deducting its own receivables from the account, allow a person whose cheque account has been closed in line with 5.3.1 hereinabove to obtain banking services other than those that involve drawing a cheque against cheque account such as payable or other accounts, like saving or fixed deposits until the National bank deletes such drawer’s name from the delinquent list in line with sub article 8.1 of these directives; 5.4. Notwithstanding provisions under 5.1.1(b) and 5.2.1(b) hereinabove upon fulfillment of the condition set under sub-article 5.2.1(c), the bank may unblock the account and make the fund available to the drawer: 5.4.1. if the drawer presents the dishonored cheques to the bank or the payee(s) may appear in person to the bank and confirm in writing that the dishonored cheques have been fully settled in the form prescribed under Annex-I of these ؛directives or 5.4.2. if the payee(s) fails to appear to receive a full payment after lapse of six months of presenting the dishonored cheque. 5.5. Notwithstanding provisions under 5.1.1, 5.2.1 and 5.3.1 hereinabove, a bank may: 5.5.1 debit charges like legal, insurance, advertisement and such other noncash transactions against a blocked ؛account and 5.5.2 accrue interest against overdraft accounts. 5.6. Deletion of a drawer’s name from Dishonored Cheque Register in line with subarticles 5.1.2 and 5.2.2 of this article shall be subject to quarterly internal audit of the bank. CATS Procedure | k
Page 1 and 2:
CATS Procedure | Commercial Bank of
Page 3 and 4:
Commercial Bank of Ethiopia Decembe
Page 5 and 6:
COMMERCIAL BANK OF ETHIOPIA Decembe
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
1.2 Definitions COMMERCIAL BANK OF
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
9.20 Key management COMMERCIAL BANK
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196: COMMERCIAL BANK OF ETHIOPIA Decembe
Page 245: COMMERCIAL BANK OF ETHIOPIA Decembe
Page 271 and 272: [COMMERCIAL BANK OF ETHIOPIA] Decem
show all

Revised CATS Procedure Dec.20161

Create successful ePaper yourself

Delete template?

Save as template?