The Commercial Bank of Ethiopia (CBE) is preparing to open branches in Dubai

[Deeq A.]

CBE Considers Opening Branches in UAE Cities to Tap Diaspora Market

The Commercial Bank of Ethiopia (CBE) is preparing to open branches in Dubai and other cities in the United Arab Emirates, targeting Ethiopian diaspora communities.

CBE President Abe Sano led a senior delegation to Dubai last week, holding discussions with Ethiopian diplomats, community leaders, and financial institutions. The meetings included Ambassador Aklilu Kebede, Consul General in Dubai and Northern Emirates, and Idris Bunsuro, chair of the Ethiopian Community Association board. Talks focused on providing accessible banking services, strengthening remittance flows, and supporting diaspora-led investment.

The UAE branches are expected to prioritise cities with large Ethiopian populations. The bank said the initiative responds to repeated requests from diaspora members for secure and tailored financial services.

CBE, which has more than 1,940 branches in Ethiopia, previously operated branches outside the country in Djibouti and Sudan but has limited its overseas presence to the Horn of Africa. The move to the Gulf would mark its first expansion into the Middle East.

Abie Sano, President of CBE, confirmed that the bank is working to ensure legal compliance for cross-border transfers, with consultations held with Al-Ansari Exchange Group and other partners to strengthen secure and regulated remittance channels.

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