Ethiopian banks, Diaspora community in the US discuss macroeconomic and banking sector reforms

Addis Ababa, October 21, 2024 (FBC) – On October 20, 2024, the National Bank of Ethiopia (NBE) hosted a well-attended event at the Ethiopian Embassy in Washington, D.C., where Governor Mamo Mihretu and over a dozen Ethiopian bank CEOs discussed the country’s macroeconomic, foreign exchange, and banking sector reforms.

The event brought together NBE, commercial banks, remittance companies, and members of the diaspora to advance the dialogue on how improved remittance channels and practices can help drive economic growth in Ethiopia.

Ethiopian banks showcased a range of savings and lending products linked to remittances—such as mortgage loans, vehicle loans, and SME loans.

The event highlighted the Unite.et platform, which enables Ethiopians and those of Ethiopian origin to open bank accounts via an easy-to-use web-based and app-based platform.

The event also provided a unique opportunity for the Diaspora community members to receive immediate responses to their questions and concerns.

NBE reiterated its continued commitment to boosting remittance flows via formal banking channels as part of its on-going work to create a deep, liquid, and well-functioning foreign exchange market.