Challenges Of Foreign Currency Generation In Private Commercial Banks In Ethiopia The Case Of Cooperative Bank Of Oromia S.C

Abstract

The major goal of this research is to look into the Challenges of private commercial banks in Ethiopia generating foreign currency, with a focus on Cooperative Bank of Oromia S.C.The study used a descriptive method and, in particular, survey design methodologies. Using questionnaires, the survey was done with employees from Cooperative Bank of Oromia S.C. in various positions. In addition, the investigation employs a methodical review of Coopbank and NBE papers and records .The lack of a sufficient number of real exporters, limited exportable commodities within the country, lack of unrestricted government assistance for the export sector, export fund diversions, and the development of informal and parallel marketplaces were all discovered in this study private banks' failure to maintain excellent relationships with international correspondent banks, heavy dominance of a few core agricultural export commodities, As a recommendation, the study suggests that the bank focus more on the export sector, work with a variety of remitting agencies, align its internal policies and procedures with the governing body's rules and regulations, and develop better strategies to boost the bank's export earnings and encourage diaspora Ethiopians to use the official channel rather than the parallel channel