Looks like the National Bank of Ethiopia (NBE) is done playing nice with the underground money movers. Governor Eyob Tekalign (PhD) made it clear: if you’re running illegal hawala transfers, it’s time to either go legit or go quiet.
The central bank has been chatting with both foreign hawala operators and commercial banks — kind of like a parent-teacher conference, but for money. The message? Follow the rules, and we might just be friends.
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Not everyone’s been picking up the phone, though. Some hawala operators have gone full ghost mode, prompting the NBE to sharpen its pencils (and its investigations). The bank says it’s ready to roll out “strong regulatory measures” — bureaucratic speak for we’re coming for you.
On a brighter note, Eyob assured everyone that Ethiopia’s foreign currency stash is in safe hands — no funny business there. So, while the hawala hustle might be in hot water, the birr’s guardians seem to have things under control.
