The National Bank of Ethiopia (NBE) has announced a broad relaxation of foreign exchange regulations, allowing authorized banks to pay up to USD 20,000, or its equivalent in other currencies, per case in advance for medical and education services abroad without requiring visa and air ticket documentation.
The measure, introduced under the revised Foreign Exchange Directive (FXD/04/2026), enables customers to access foreign currency upon presenting letters of proof from foreign institutions and submitting a formal application, easing previous procedural requirements.
In its statement issued on Wednesday, February 11, 2026, the central bank said, “The directive forms part of wider reforms aimed at improving foreign exchange access and deepening market efficiency.”
Under the new directive, service exporters are permitted to retain 100 percent of their export proceeds in foreign exchange retention accounts for an indefinite period.
Authorized banks are also allowed to issue internationally recognized payment cards for foreign exchange account holders to facilitate outbound retail payments, including e-commerce transactions, provided sufficient balance is available. Additionally, forex account holders may cover education, medical and travel expenses abroad for their spouses and children upon presentation of valid documents.
The reforms also allow Ethiopians to remit up to USD 3,000 abroad under specified conditions. Individuals entering Ethiopia with foreign currency may convert it at authorized forex bureaus or deposit it into their foreign currency accounts without presenting a customs declaration.
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Authorized banks can engage in forward exchange transactions without prior NBE approval, while approvals of external loans and suppliers’ credit can be fully handled by authorized banks in accordance with foreign exchange directives. Exporters are also permitted to receive advance payments from foreign buyers under agreed terms presented to authorized banks, and foreign investors are entitled to repatriate net profits and dividends upon submission of the required documents.
