An opinion piece in Capital Newspaper has challenged a directive from Ethiopia's Ministry of Labor and Skills requiring overseas employment agencies to deposit all funds exclusively in four designated banks. Author Dessalegn Sisay argues that the measure distorts markets and violates Ethiopian laws. He calls for its immediate withdrawal.
In an opinion article published on March 15, 2026, in Capital Newspaper, Dessalegn Sisay criticizes a directive from Ethiopia's Ministry of Labor and Skills. The directive requires overseas employment agencies to deposit service fees, security bonds, and commission payments exclusively into accounts at the Commercial Bank of Ethiopia, Dashen, Abyssinia, and Awash banks. Sisay describes it as 'not merely bad policy; it is a move to illegality,' violating economic principles, domestic laws, the constitution, and international obligations. Economically, he argues it creates an oligopoly, raises transaction costs, reduces trade volume, and harms competition among licensed banks. Legally, the piece claims it infringes on the National Bank of Ethiopia's (NBE) autonomy under Proclamation No. 1359/2025, the Ethiopian Commercial Code's freedom of contract, and constitutional rights under Articles 41 and 25. It also risks breaching commitments tied to World Trade Organization (WTO) accession by restricting financial services. Sisay urges the ministry to withdraw the directive immediately, suggesting instead that the NBE set standards for all licensed banks. 'The Ministry of Labor and Skills is not a central bank, and it must stop acting like one,' he writes. The article emphasizes that true security comes from a competitive financial sector, not favoritism toward select banks.