Ten former employees of Awash International Bank (AIB) have been charged with mishandling letters of credit (L/Cs) and abusing their authority as bank employees.

The Ethiopian bank's former president, Leikun Brehanu, as well as its former vice president of international banking, Mitiku Abeshu, are amongst those charged.

Charges

The eight other former bank employees to face charges held managerial, sales, and secretarial positions.

The main charges accuse the defendants of opening import L/Cs without licences - bank customers should have been registered and put on an import L/C waiting list.

Abuse of power

The former bankers also stand accused of approving foreign currency requests without due regard to proper procedures.

Additionally, the defendants are charged with abuse of power within the bank and harming AIB's customers and interests.

Formal hearing

Prosecutors say the alleged offences were committed between October 2009 and December 2010.

A date for a formal court hearing of the charges is yet to be set.

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