Regulatory Alerts2020-05-19
Added · Updated
Cash Withdrawal Limit Directive No. FIS/03/2020
The National Bank of Ethiopia imposes daily and monthly cash withdrawal limits on customers: Ethiopian Birr 200,000 per day and 1,000,000 per month for natural persons, and Ethiopian Birr 300,000 per day and 2,500,000 per month for juridical persons. Financial institutions must aggregate transactions across branches to enforce these caps but may exceptionally approve excess withdrawals upon review by the Chief Executive Officer using National Bank-approved criteria. Institutions violating the limits face a penalty equal to 25% of the excess withdrawal value and must submit weekly reports of any exceptions no later than Tuesday of the following week.
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