The National Bank of Ethiopia has warned that using unlicensed Money Transfer Agents and illegal Hawala networks is prohibited under Ethiopian law and announced enforcement action not only against unlicensed dealers and their networks, but also against recipients of funds sent through illegal channels. The central bank urged individuals and members of the Ethiopian diaspora to use licensed operators to avoid interruptions and protect recipients’ accounts. It identified Shgey Money Transfer, Adulis Money Transfer (ADZ), Red Sea, Avanti, World Direct Link, Rasmy Pay, USwyre, Zola, and Taaj Financial Service as examples of unlicensed operators and pointed users to its website for the full list of authorized MTAs.
National Bank of Ethiopia 2025-12-29
National Bank of Ethiopia announces enforcement against unlicensed money transfer agents and illegal hawala networks including fund recipients
The National Bank of Ethiopia announced enforcement actions against unlicensed Money Transfer Agents and illegal Hawala networks, including recipients of funds sent through these channels. It urged the use of licensed operators to avoid disruptions and protect accounts, identifying several unlicensed entities such as Shgey Money Transfer and Adulis Money Transfer.