APA-Addis Ababa (Ethiopia) The government of Ethiopia has issued a letter ordering all commercial banks in the country to freeze bank accounts of 35 Amhara and two Afari investors, APA can report on Wednesday.
The letter with official seal of the Federal Financial Intelligence Service, dated 25 April 2023 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 investors said that deceased people, who were not specifically identified, were also included in the suspension list.
According to the investors, offices of the investors were 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,.
In connection with this, the National Bank of Ethiopia told not to extend loan disbursement periods for investors with Amhara ethnicity.
The investors indicate that when the Amhara investors fail to disburse the loans, their properties would be transferred to others through auction sale.
MG/as/APA