The National Bank of Ethiopia (NBE) has raised the limit placed on bank transfers based on The Reporter Newspaper information.
It is recalled that NBE has prohibited making over five cash transfers a week from a single bank account to multiple accounts via mobile and internet banking; Automated Teller Machine (ATM) and Point of Sale (PoS) terminals; and electronic accounts that operate through mobile money services.
According to The Reporter Newspaper, Frezer Ayalew, Director of Banking Supervision at the National Bank of Ethiopia has confirmed that the limit has been lifted, effective as of January 05, 2022. However, he affirmed to the News Agency that other restrictions, including the withdrawal limit introduced last year, are still applicable.
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