By Hailegebriel Endeshaw
ADDIS ABABA – (BORKENA) – Ethiopian government reportedly ordered bank accounts of 35 Amhara and two Afari investors to be frozen. A source today quoted Ze-Habesha Media to report that a letter from the Federal Financial Intelligence Service, dated 25 April 2023, was circulated to all banks ordering them to freeze the accounts of 37 Ethiopian investors.
The letter, with the official seal of the Financial Intelligence Service and addressed to all Risk and Compliance Directorates of the Banks, commands the immediate withholding of financial resources of the individuals with a list of popular names attached.
The letter further states that the banks cannot lift the ban without prior notification of the Financial Intelligence Service. All banks were also notified to report the amount of money suspended from every investor, according to the circular.
The news source said that deceased people, who were not specifically identified, were also included in the suspension list.
Meanwhile EthioExplorer reported yesterday that there might be moves to detain Amhara investors. EthioExplorer quoted Amhara Media Center as saying that the focus position seemed to be at the Amhara investors. Offices were reportedly broken into and files as well as documents of some of the investors were stolen. Bank accounts of some of the Amhara investors have also been banned, according to the news sources.
In connection with this, the National Bank of Ethiopia has reportedly received a circular not to extend loan disbursement periods for investors with Amhara ethnicity. The news source indicates that when the Amhara investors fail to disburse the loans, their properties would be transferred to others through auction sale. Things are put in such perspectives in the country, according to news sources.
To share information or for submission, send e-mail to firstname.lastname@example.org
Telegram Channel : t.me/borkena