Once the National Bank of Ethiopia announces the revocation of a business license of a failed financial institution, the following process would be followed to reimburse insured depositors of the institution

• A receiver is appointed by the National Bank of Ethiopia;
• The appointed receiver submits list or records of insured depositors with supporting documents to the Fund within 14 days after its appointment;
• The Fund announces the date when repayment to deposits will start, within 14 days after receipt of records of insured depositors from the appointed receiver;
• In line with the announcement, deposit payout or reimbursement is commenced through a pay agent bank. The Fund shall appoint and agree with the pay agent bank ahead of time or before the occurrence of failure of a financial institution;
• Repayment of depositors shall end within 90 days after the day the National Bank of Ethiopia announces revocation of business license of the failed financial institution; and
• Depositors missing the 90 days deadline can claim refund of their insured deposits within five years by presenting justifiable reasons.