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National Bank of Ethiopia restricts electronic money transfers to 5 per week

Thursday 14 January 2021 | 11:21 CET | News
The National Bank of Ethiopia has restricted electronic money transfers to five times from a single bank account per week, ITWeb reported. It said it supports the use of non-cash payment instruments, but that ensuring safety and efficiency of the payment systems is critical. According to a secular law signed by the National Bank of Ethiopia's financial institutions supervisors to all banks, transfers should only be done for utility payments including mobile top-ups, salary payments by employer organisations, and transactions effected by financial institutions from their accounts.

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Categories: Internet / Mobile & Wireless
Countries: Ethiopia
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