ADDIS ABABA — The National Bank of Ethiopia (NBE) has officially published a list of unauthorized money transfer operators and illicit hawala networks, issuing a stern warning to the public and the Ethiopian diaspora to cease using unapproved channels for remittances.
According to a statement released by the central bank, engaging in illegal remittance schemes violates Ethiopian law. The NBE warned that sending or receiving funds via unapproved entities exposes customers to severe financial losses, transaction delays, bank account freezes, and direct legal liability. With inbound remittance flows steadily growing, the regulator emphasized that individuals must rely exclusively on authorized financial institutions to protect both senders and recipients from legal and administrative penalties.
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