Economy
Deadline for Linking Fayda ID to Bank Accounts Extended to October 30
TIKVAH Ethiopia · 2 weeks ago · Read the Full Story on TIKVAH Ethiopia
AI SUMMARY
The National Bank of Ethiopia has extended the deadline to November 9, for bank customers outside 27 designated cities and Harari Region to link their accounts with their Fayda ID.
- The National Bank of Ethiopia extended the deadline for bank customers to link their accounts with their Fayda national ID.
- The previous deadline for the rest of the country was July 7, while the deadline for 27 city administrations and the Harari Region was May 14.
- A 'No Debit' restriction has been enforced on unlinked accounts, blocking withdrawals and outgoing transactions until linked.
- The new deadline for customers outside the 27 cities and Harari Region is November 9, accounting for major national events and the agricultural season.
- The deadline for the 27 city administrations and the Harari Region remains unchanged.
- Banks are instructed to remind and encourage customers to obtain and link their Fayda ID, and to conduct awareness campaigns.
- Banks are urged to strengthen KYC and CDD processes by linking customers' various accounts to their Fayda identification number.
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