News Alert:  Central Bank Lifts Restrictions Placed on Bank Transfers 

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Addis Ababa, in the city center, high-rise, office building, office building, the Rotunda is the National Bank (Photo by: Bildagentur-online/Universal Images Group via Getty Images)

The National Bank of Ethiopia lifts the limit placed on bank transfers. It was a rule introduced to discourage players in the informal exchange market.

Customers of banks were not allowed to make more than five bank transfers a week since the beginning of last year.

Frezer Ayalew, Director of Banking Supervision at the National Bank of Ethiopia, confirmed to the Reporter that the limit has been lifted now, effective as of January 05, 2022.

“The transfer limit is now fully lifted with a directive,” Frezer told the Reporter.

However, he affirmed that other restrictions, including the withdrawal limit introduced last year, are still applicable.

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