A delegation led by Ato Abe Sano, President of the Commercial Bank of Ethiopia (CBE), has arrived in Dubai for a series of strategic consultations with the Ethiopian diaspora and international financial institutions.
During his visit, Ato Abe Sano emphasized the importance of engaging the diaspora community in Ethiopia’s ongoing economic transformation. “Despite the large number of Ethiopians living abroad, our performance in terms of foreign money transfers and receipts remains below potential,” he noted.
CBE is actively working to streamline the legal system for foreign money transfers, including hawala services, to make remittances faster, safer, and more accessible. In a key meeting with the CEO of Al-Ansari Exchange Group, Mr. Rashid Al-Ansari, President Abe discussed launching secure, competitively priced money transfer solutions and raising awareness among the diaspora about legal remittance channels.
Related articles
“Our goal is to create a system that is easy to use, transparent, and fully accessible to all members of the Ethiopian community abroad,” said Ato Abe Sano.
The visit also featured discussions with over 200 members of the Ethiopian diaspora in Dubai, exploring opportunities for investment, home ownership, and personal finance. In a major announcement, President Abe Sano revealed that the Commercial Bank of Ethiopia is prepared to offer 50 billion birr in loans to the diaspora community for investment, home and car purchases, and other development initiatives.
Vice President of CBE, Ato Nuri Hussein, highlighted the bank’s suite of diaspora-focused services, including convenient hawala remittance options, incentive-based savings programs, and long-term, low-interest loans designed to empower Ethiopians abroad.
“The diaspora is a vital partner in Ethiopia’s economic growth,” Ato Abe Sano said. “Through accessible financial services and targeted investment opportunities, we are opening the door for Ethiopians abroad to actively contribute to our nation’s development.”
The Commercial Bank of Ethiopia delegation will continue its consultations throughout Dubai and the Northern Emirates, meeting business leaders, diaspora associations, and financial institutions to strengthen connections and explore innovative ways to support Ethiopians worldwide.
