Commercial Bank of Ethiopia (CBE) is set to open branches in Dubai and other cities across the United Arab Emirates, catering to the increasing needs of the Ethiopian diaspora and their descendants.

The initiative aims to provide accessible, secure, and efficient banking services tailored to diaspora communities in cities with significant Ethiopian populations. During a working visit to Dubai and the Northern Emirates, the bank’s President Abe Sano engaged with members of the Ethiopian diaspora and second-generation Ethiopians, as well as with diplomatic representatives, including Ambassador Aklilu Kebede, Consulate General of the Federal Democratic Republic of Ethiopia in Dubai and Northern Emirates, and Idris Bunsuro, chair of the Ethiopian Community Association board in the region. The discussions focused on delivering accessible, secure, and responsive banking services while strengthening economic links.

The president confirmed that the bank is actively responding to diaspora requests, aiming to ensure that banking services are accessible, secure, and tailored to the community’s financial needs. The planned branches will prioritise cities with dense Ethiopian populations, providing a foothold for the bank in a region where remittances and diaspora-led investment are increasingly significant.

He also hinted that the lender is preparing a 50 billion birr loan programme for diaspora communities, aimed at supporting investment initiatives as well as home and vehicle purchases. The programme forms part of CBE’s broader strategy to provide financial services that respond directly to diaspora needs.

The visit also addressed secure and regulated remittance flows. Abe Sano highlighted the bank’s commitment to legal compliance for foreign currency and cross-border transfers, with consultations involving Al-Ansari Exchange Group, diaspora members, second-generation Ethiopians, and financial institutions to facilitate fast, secure, and efficient transactions. The UAE branches are expected to provide a platform for these initiatives, supporting diaspora-led economic activity and tailored financial services.