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Ethiopia's Largest Bank Recovers From Glitch After Customer Fund Withdrawals 🏦💰 🇪🇹

Ethiopia's Largest Bank Recovers From Glitch After Customer Fund Withdrawals 🏦💰 🇪🇹

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Ethiopia's Commercial Bank (CBE) grappled with a technical malfunction as customers, including students, withdrew excess funds. Now, after a concerted effort, the bank has largely recovered from the incident.

In the past week, the Commercial Bank of Ethiopia (CBE), the largest financial institution in the East African country, faced a technical glitch allowing customers to illicitly withdraw millions from its coffers. Account holders exploited the system flaw, leading to approximately $40 million in transfers and withdrawals, but the bank has since recovered most of the funds, retrieving around $14 million. Despite challenges, CBE assures customers of the integrity of their accounts and aims to recover the remaining sum through ongoing efforts.


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