The executives of Dashen Bank signed an agreement with representatives of the National ID Office last week, availing the Bank's branch network for registration efforts. It is the latest in the industry to strike a deal with the office under the auspices of the Prime Minister's Office. Others include the state-owned Commercial Bank of Ethiopia (CBE), the Cooperative Bank of Oromia (CBO), and the Bank of Abyssinia. The National Bank of Ethiopia (NBE) has also agreed to work with the ID office, and the Ethiopian Postal Service Enterprise jumped on board earlier this month. Banks are eager to see the dallying programme get moving in order to meet the central bank's recently updated "know-your-customer" (KYC) directive, compelling them to verify their clients' data and consolidate multiple accounts under one unique ID.  The task has been a challenge due to the absence of a national ID system and biometric data, which make it difficult to identify duplicate accounts. Earlier this month, the Ministry of Innovation & Technology floated a tender for 315 biometric registration kits for the ID programme. Officials hope to see 70 million citizens registered by the end of 2025. A kit costs between 2,000 and 3,500 dollars.

[ssba-buttons]