Deadline for linking bank accounts to Fayda ID extended

The National Bank of Ethiopia has extended the deadline for bank customers to link their accounts with their Fayda national ID to October 30, 2019 (Ethiopian calendar). This extension applies exclusively to customers outside of the 27 designated city administrations and the Harari region. The bank confirmed that the previously set deadline of June 30, 2018, remains unchanged for those specific areas.

The central bank cited national events and the agricultural season as reasons for this decision. The "No Debit" measure, which restricts transactions on accounts that have not been linked by the deadline, remains in effect. Additionally, the National Bank has instructed commercial banks to encourage their customers to register for the Fayda ID and to conduct awareness campaigns regarding its importance. The directive is intended to strengthen Know Your Customer (KYC) and Customer Due Diligence (CDD) procedures.