CBE Launches Diaspora Money Transfer Service

Sep 7 , 2025


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The Commercial Bank of Ethiopia (CBE) has received regulatory approval to operate as an international money transfer agent through licensed intermediaries. The web-based service allows Ethiopians abroad to send funds home via registered agents using a dedicated portal, offering a secure alternative to informal channels. CBE also signed a memorandum of understanding with the Ethiopian Community in Abu Dhabi on August 31, 2025. Signed by President Abie Sano and board chair Abdulnasir Haro, the partnership will promote financial literacy, diaspora banking access, and formal money transfers. Joint initiatives will support low-income community members through housing finance and awareness campaigns, strengthening diaspora engagement to boost country's economic development.


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