Mereja Forum

[sarcasm]

The categorical suspension of all bank accounts held in the Tigray region was illegal, discriminatory, and disproportionate. NBE must apologize and pay reparation to all Tigrayans.

In November 2020, a few days after the Ethiopian National Defense Force launched armed hostility in Tigray, the National Bank of Ethiopia (NBE) ordered the complete freeze of all bank accounts opened in the region.

Although the NBE gave no clear explanation, the measure was ostensibly aimed at preventing and stopping financial transactions conducted by the Tigray People’s Liberation Front (TPLF) members and the businesses and individuals associated with the party. The measure followed a sudden decision in September to change banknotes as part of the preparation for the war. Subsequently, the government targeted 34 companies in finance, mining, construction, and various other sectors with alleged links to the TPLF. Regrettably, the decision to categorically freeze bank accounts opened at 616 bank branches in the Tigray region prohibited cash withdrawals from branches or ATMs across the country.

The sweeping decision mainly affected Tigrayans in Tigray, but it also prevented Tigrayans living in other parts of Ethiopia from accessing their bank accounts. In effect, nearly all Tigrayans were abruptly cut off from financial services, food, telecommunication, transportation, and healthcare services.

The freezing of bank accounts exacerbated the situation of Tigrayans, who were already under dire circumstances in the crossfire. When the measure was announced, the war had already rendered thousands of civilians refugees and internally displaced persons. Towns, neighborhoods, and homes were being bombarded from the air; civilian infrastructure was targeted with artillery shelling. Tens of thousands were forced to escape, hundreds killed, wounded, and separated from loved ones, not knowing if they are alive. To add to the ordeal, the Bank ordered that those who could use their money to ameliorate their condition would have no access to their money. The decision lasted over one month.

Continue reading https://www.awashpost.com/2021/06/11/th ... igray-war/