The National Bank of Ethiopia (NBE) has reinstated RamadPay, a US-based remittance company, following a regulatory review that confirmed its compliance with national financial laws.

RamadPay, headquartered in Falls Church, Virginia, had been among four US-based money transfer operators banned by the central bank in August 2025 for allegedly conducting unauthorised transactions. The NBE had at the time accused the companies — RamadPay (Kaah), Shgey Money Transfer, Adulis Money Transfer, and TAAJ Money Transfer — of operating outside the legal framework governing cross-border remittance services.

According to NBE, RamadPay’s licence was restored after a comprehensive assessment verified that the firm met all supervisory and legal requirements under Ethiopia’s financial regulations. The decision follows an extended compliance process aimed at ensuring the company’s systems and procedures align with anti-money laundering and consumer protection standards.

“The National Bank’s objective is to ensure that money transfer operators function transparently and in accordance with the law,” the statement said. The regulator encouraged other suspended or unlicensed firms to take corrective measures to meet the necessary compliance standards.

NBE also reminded members of the Ethiopian diaspora to use only licensed operators when sending funds to Ethiopia, warning that transfers made through unapproved channels risk loss, seizure, or exposure to illicit financial activities.