The National Bank of Ethiopia (NBE) announced it has lifted the limit it put on number of bank transfers allowed per week. NBE had restricted number of bank transfers allowed per week to just five per week for a year, since January 2021.
Solomon Desta, NBE's Vice Governor of Financial Institutions, said the National Bank's restrictions "have met their target," adding the decision to lift the restrictions is aimed at addressing "the negative effects" they may have on financial exchanges.
NBE's restriction of transfers had been effective on all forms of bank transfers, including mobile and internet banking, as well as using ATM and POS machines.
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Source: Fortune
