NBE Issues Public Warning Against Unauthorized Money Transfer Operators
Hirko and Associates Law Office
29 August 2026 | Addis Ababa, Ethiopia
The National Bank of Ethiopia (NBE) has issued a fresh public warning against the use of unlicensed Money Transfer Agents (MTAs) and illegal Hawala networks, naming seventeen operators that are not authorised to provide remittance services to Ethiopia. In a public notice dated 28 August 2026, the central bank cautioned all customers, members of the Ethiopian diaspora, and the general public to exercise vigilance and use only authorised remittance channels when sending or receiving funds. The NBE emphasised that transacting through unauthorised money transfer agents and illegal Hawala operators may result in financial loss, delays in payment, account restrictions, and legal and regulatory action against both senders and recipients, including family members receiving funds. The NBE has explicitly stated that funds transferred through such channels are at risk of confiscation on money laundering grounds.
The Notice identifies the following entities as unauthorised operators: Adulis Money Transfer (ADZ), Amal Express, Amal USA, Amana Express, Avanti, Awash Direct, Bakaal Money Transfer, Jubba Express, Rasmy Pay, Ramad Pay also known as Ramada Pay or Kaah, Shgey Money Transfer, Taaj Financial Service, Tasa Pay, Tawakal Money Services, USwyre, World Direct Link, and Zola. These entities are not authorised by the National Bank of Ethiopia to provide remittance services to Ethiopia.
The August 2026 Notice is part of a sustained enforcement campaign by the central bank. In August 2025, the NBE publicly named four US‑based money transfer service providers, Shgey Money Transfer, Adulis Money Transfer, Ramada Pay (Kaah), and TAAJ Money Transfer, accusing them of undermining the integrity of the Ethiopian financial system and distorting market prices. In October 2025, NBE Governor Eyob Tekalign Tolina warned that enforcement was already underway and would target both beneficiaries and agents where necessary. In April 2026, the NBE identified 23 unauthorised money transfer service providers, including several entities that appear in the current Notice. In December 2025, the NBE released an official list of more than 100 licensed money transfer agents.
The NBE’s enforcement authority derives from the National Bank of Ethiopia Proclamation No. 1359/2025, the Prevention and Suppression of Money Laundering and Financing of Terrorism Proclamation No. 780/2013 as amended by Proclamation No. 1387/2025, and various foreign exchange directives. Under the amended AML/CFT Proclamation, standard money laundering offences carry 10–15 years imprisonment and fines of up to 500,000 Birr. The NBE has also stated that violations will lead to severe legal consequences, including imprisonment and asset confiscation.
Members of the Ethiopian diaspora and the general public are strongly advised to use only NBE‑licensed Money Transfer Agents and to verify that their chosen remittance provider is included in the official list published by the National Bank of Ethiopia at https://nbe.gov.et/mta/. All seventeen entities identified in the Notice should be avoided, as funds sent through unauthorised channels may be subject to confiscation and both senders and recipients may face legal action. The NBE has demonstrated a sustained commitment to enforcement, and individuals and businesses are urged to remain vigilant.
If you have concerns about your exposure to liability arising from transactions through unauthorised money transfer operators or require legal guidance on compliance with Ethiopia’s financial regulations, please contact us.