Addis Ababa, December 29, 2025 (FMC) — The National Bank of Ethiopia (NBE) has issued a strong public warning against the use of unlicensed money transfer agents and illegal Hawala networks, stressing that such practices are prohibited under Ethiopian law and may result in service disruptions and regulatory action against recipients.
In a press release issued on Monday, the central bank said it is acting in line with its legal mandate to curb unauthorized remittance activity, noting that enforcement measures are being taken not only against unlicensed money transfer operators and their networks, but also against individuals who receive funds transmitted through illegal channels.
The NBE cautioned that remittances sent outside the licensed financial system expose recipients to financial and regulatory risks, including account interruptions and other enforcement actions. The bank urged senders and recipients to use only authorized and licensed money transfer agents to ensure the safety and continuity of transactions.
“To protect the accounts of your loved ones and avoid interruptions, individuals and members of the Ethiopian diaspora are strongly advised to use licensed operators,” the central bank said.
As part of the advisory, the NBE named several unlicensed money transfer agents that are not authorized to provide remittance services to Ethiopia. These include, but are not limited to, Shgey Money Transfer, Adulis Money Transfer (ADZ), Red Sea, Avanti, World Direct Link, Rasmy Pay, USwyre, Zola, and Taaj Financial Service.
The central bank also emphasized that it maintains a comprehensive and regularly updated list of licensed money transfer agents on its official website. The list includes international, regional, and digital remittance service providers that are legally permitted to facilitate remittances to Ethiopia under the supervision of the NBE.
The NBE called on the public and the Ethiopian diaspora to verify the licensing status of any remittance provider before sending or receiving funds, underscoring that the use of authorized channels helps protect consumers and supports financial system integrity.
Remittances from Ethiopians abroad remain a vital source of foreign exchange for Ethiopia’s economy. Authorities say strengthening oversight of remittance channels forms part of broader efforts to combat illicit financial flows, safeguard recipients, and reinforce confidence in the formal financial system.