Central Bank Lifts Transfer Restrictions

January 11 , 2022

The National Bank of Ethiopia (NBE) has removed the limits on bank transfers. Regulators restricted in January 2021, limiting account-to-account transfers to only five a week.

The following month, they placed the same restriction on transfers via mobile and internet banking; using ATMs or POS machines, and mobile money.

“The restrictions have met their target,” Solomon Desta, vice governor of financial institutions at the central bank, told Fortune. “The bank has decided to lift the restrictions to address the negative effects they were to entail."

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