Central bank says disruption of CBE digital banking service occurred due to system update, inspection works

Addis Ababa, March 17, 2024 (FBC) – National Bank of Ethiopia (NBE) issued a statement regarding momentary disruption occurred to the Digital Banking System of the Commercial Bank of Ethiopia (CBE) on Saturday, 16 March.

“Banks regularly carry out security checks and make updates on their systems to deliver speedy and secure services. The changes that result from these updates and inspection works may cause interruption on banking services,” the statement says.

NBE confirmed that the interruption of service that occurred at the Commercial Bank of Ethiopia yesterday was related to the maintenance works.

“NBE has been monitoring the security of the bank and its customers together with the relevant stakeholders. Therefore, it was possible to resume regular services of the bank within a short time and to return the bank to its normal activities,” the Central Bank sated.

NBE further explained that the service disruption that occurred to the CORE banking system of CBE resulted from the bank’s regular system updates and inspections.

The central bank further asserted that the incident does not jeopardize customers of the bank as well as the entire financial system, NBE added.

NBE further pointed out that financial systems in all financial institutions are safe and secured calling the community to use the services without risk perception.