Awash Remit

• ✅ AwashRemit is a mobile-based remittance platform by Awash Bank.
• ✅ It allows Ethiopians abroad to send money home instantly using international cards  (Mastercard, Visa, etc.).                           
• ✅ Built on Mastercard’s global payment gateway for safe and reliable transfers
• ✅ No longer processes — simple, direct, and digital.
• ✅Receivers in Ethiopia can get funds straight into their Awash Bank account.
• ✅Supports the government’s goal of moving  remittances from informal to formal channels.
• ✅  Helps boost foreign currency inflow and promotes financial inclusion.
•   ✅ Strengthens Awash Bank’s digital leadership and  global   
• connection

• A remittance platform is a digital system or application that enables people to send and receive money across borders usually from individuals working abroad (the diaspora) to their families or contacts in their home country.
• Popular Apps include Wise, Remitly, Western union, MoneyGram, Revolut and World Remit.
• These applications offer multiple transfer methods such as:
  • Direct bank deposits, mobile wallet transfers, or cash pickup services with competitive exchange rates and transparent fee structures.
  • As a result, they present a faster, more affordable, and convenient alternative to traditional bank transfers.

Why Awash Bank Needs to have own Remitance Platform?

1. Capture More FCY Inflows

• Ethiopia receives billions in remittances yearly.
• An in-house platform lets Awash Bank capture more of these funds directly instead of sharing with third parties

2. Brand positioning

• Having its own remittance platform positions Awash Bank as a trusted, independent Ethiopian brand, strengthens diaspora loyalty, and clearly differentiates it from competitors.

3. Strengthen Diaspora Relationship

• Provides direct access for diaspora customers to send money, deposit to accounts, and invest through Awash

4. Boost Foreign Currency & Income

• More remittance through Awash means higher FX liquidity and non-interest revenue from service fees and exchange margins.

5. Strengthen Diaspora Relationship

• Provides direct access for diaspora customers to send money, open accounts, and invest through Awash.

6.Improve Efficiency & Compliance

• Full control over rates, AML/KYC checks, and reporting ensures transparency and regulatory compliance.

7.Support Financial Inclusion & National Agenda

• Integrated with AwashBirr pro to reach rural and unbanked customers.
• Aligns with the government’s plan to shift informal remittances to formal channels, promoting financial inclusion and economic stability.