Economy
Individuals with Tigray-Based Bank Accounts Report Closures and Hardship
BBC · 4 hours ago · Read the Full Story on BBC
AI SUMMARY
Individuals residing in Addis Ababa and other regions who opened bank accounts in Tigray report that their accounts have been abruptly frozen amid ongoing conflict, causing severe financial difficulties.
- Individuals in Addis Ababa and other areas who opened bank accounts in Tigray report that their accounts have been frozen.
- The account closures began on Saturday, September 26, affecting multiple banks including the Commercial Bank of Ethiopia.
- The restrictions prevent people from withdrawing cash or conducting mobile banking transactions for daily needs and transportation.
- National Bank of Ethiopia officials reportedly told an affected customer that the action was taken to ensure customer security.
- ATM withdrawals are largely unviable because ATM services in Tigray have been dysfunctional for the past eight months, leaving customers without active cards or PINs.
- Some affected individuals have been able to apply in person at designated Commercial Bank of Ethiopia branches in Addis Ababa to reactivate their accounts.
- The BBC's requests for comment from banks and government officials regarding the closures were unsuccessful.
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