Ethiopia: Agency Working to Tackle Illicit Currency Transfer

ADDIS ABABA_ The Ethiopian Diaspora Agency said it is working to tackle illicit currency transfer that may arise following the recent change in banknotes.

Selamawit Dawit, General Director of the Agency told The Ethiopian Herald that the agency has always been working closely with National Bank of Ethiopia (NBE) to reduce illegal many transfers.

As to her, the agency has also been conducting awareness raising activities for the Diaspora community on the double role of regular channel of remittance for the Diaspora and the nation.

Revealing the incentive and motivational packages that many banks provide, addressing the benefits of legal remittance and necessary investment based information were among the priorities of the awareness raising programs.

"To this effect, we are working in collaboration with our consulates to further reach more Diasporas in each country".

Moreover, understanding the deep impact of opening Ethiopian banks in overseas; preparation is finalized to open banks in the Middle East; in addition to the ones that are already operational in Sudan and Djibouti.

For Diasporas who might have difficulties to transfer their money through banks, the consulates and embassies have created a platform to channel their money using only their community ID, she stated.

The General Director called on Ethiopians residing abroad to channel their currency through legal system as it helps both the nation as well as themselves.

It is recalled that the nation has replaced banknotes of 10, 50 and 100 Birr notes and introduced new 200 Birr note.

More From: Ethiopian Herald

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