Economy
Bank Accounts Opened in Tigray Region Blocked En Masse
TIKVAH Ethiopia · 6 hours ago · Read the Full Story on TIKVAH Ethiopia
AI SUMMARY
Bank accounts opened in the Tigray region were blocked en masse due to recent events, prompting the Commercial Bank of Ethiopia to set up a verification process in Addis Ababa to release the funds.
- Bank accounts opened in the Tigray region were blocked en masse starting from the night of September 26, 2027.
- Affected citizens were unable to withdraw funds, faced hardships, and reported not being informed of the reason for the blockade.
- No official body has issued a public statement explaining the reason for the blockade.
- The Commercial Bank of Ethiopia has designated 13 branches in Addis Ababa to handle applications for moving and unblocking the affected accounts.
- The operational branches include Addis Ababa, Akaki, Teklehaymanot, Nifas Silk, Shobe Ayat, Sidist Kilo, CMC, Tefera Degfe, Meri, Temenja Yaj, Tele Medhanealem, and Tor Hailoch.
- Account holders or their legal representatives must appear in person to verify their identity, signature, and other necessary information.
- A bank employee stated that blocked accounts will be released within 24 hours of the customer appearing in person with a copy of their Fayda ID.
- Renewed conflict in the Tigray region and neighboring Afar and Amhara regions has resulted in the cutoff of phone, internet, and flight services.
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