The Commercial Bank of Ethiopia (CBE) has signed an agreement with Botim, a digital platform widely used in the United Arab Emirates, to provide formal remittance services for Ethiopians living abroad.

The deal is designed to offer expatriates in the Gulf state a secure channel to transfer money to Ethiopia. CBE President Abe Sano said the partnership supports the government’s recent policy shift allowing the foreign exchange market to be guided by supply and demand, while also encouraging the use of regulated transfer systems over informal networks.

Botim Chief Executive Tarik bin Hendy said the agreement establishes a framework for joint operations with CBE and will give Ethiopians in the UAE a convenient option to send money home safely.

Ethiopia’s ambassador to the UAE, Oumer Hussien, described the partnership as easing remittance flows for Ethiopian nationals and further strengthening ties between the two countries.

Launched originally as a voice and video calling app in the UAE, Botim has expanded into financial services, offering money transfers, digital cards, bill payments, and access to government services.