cbe

USD
56.8022
57.9382
,
GBP
67.5744
68.9259
,
EUR
60.4375
61.6463
,
CHF
59.5391
60.7299
,
SEK
4.695
4.7889
,
NOK
4.6818
4.7754
,
DKK
7.3318
7.4784
,
DJF
0.3181
0.3245
,
JPY
0.3324
0.339
,
CAD
37.2237
37.9682
,
SAR
13.7039
13.978
,
AED
13.9956
14.2755
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
33.0232
33.6837
,
SDR
,
ZAR
,
CNY
7.1006
7.2426
,
KWD
175.9743
179.4938

awash

EUR
56.5106
57.6408
,
GBP
64.5257
65.8162
,
JPY
0.4037
0.4118
,
CHF
57.4629
58.6122
,
SAR
14.1527
14.4358

abyssinia

GBP
67.5744
68.9259
,
CHF
59.5391
60.7299
,
EUR
60.4375
61.6463
,
USD
56.8022
57.9382
,
CAD
37.2237
37.9682
,
AED
13.9956
14.2755
,
SAR
13.7039
13.978
,
SEK
4.695
4.7889
,
NOK
4.6818
4.7754

abay

USD
56.5376
57.6684
,
EUR
61.7956
63.0315
,
GBP
72.289
73.7348
,
CHF
64.3716
65.659
,
AUD
37.3657
38.113
,
AED
15.3911
15.6989
,
CNY
7.8594
8.0166
,
DKK
8.2877
8.4535
,
DJF
0.3166
0.3229
,
INR
0.6826
0.6963
,
JPY
0.3821
0.3897
,
KES
0.4082
0.4164
,
NOK
5.3785
5.4861
,
SAR
15.0739
15.3754
,
ZAR
3.0306
3.0912
,
SEK
5.5156
5.6259
,
SDR
78.118
79.6804

zemen

CAD
41.1592
41.9824
,
EUR
60.3636
61.5709
,
GBP
70.6939
72.1078
,
SEK
5.1874
5.2911
,
USD
56.7914
57.9272

buna

nib

GBP
67.5744
68.9259
,
EUR
60.4375
61.6463
,
CHF
59.5391
60.7299
,
USD
56.8022
57.9382
,
CAD
37.2237
37.9682
,
AED
13.9956
14.2755
,
SAR
13.7039
13.978

berhan

wegagen

USD
56.704
57.8381
,
GBP
68.416
69.7843
,
EURO
61.4501
62.6791
,
CAD
37.8361
38.5928
,
AUD
33.7923
34.4681
,
CHF
59.9428
61.1417
,
SEK
4.8272
4.9237
,
NOK
4.7926
4.8885
,
DKK
7.4566
7.6057
,
DJF
0.2862
0.324
,
INR
0.6803
0.6939
,
KSH
0.4345
0.4432
,
JPY
0.3389
0.3457
,
SAR
13.6809
13.9545
,
AED
13.9722
14.2516
,
ZAR
3.1723
3.2357
,
CNY
7.0934
7.2353
,
KWD
176.0871
179.6088

dgb

enat

USD
56.8022
57.9382
,
GBP
70.7585
72.1737
,
CHF
62.3446
63.5915
,
SEK
5.1879
5.2917
,
NOK
5.1733
5.2768
,
DKK
8.1014
8.2634
,
KES
0.4271
0.4356
,
JPY
0.3673
0.3746
,
DJF
0.3181
0.3245
,
CAD
41.1312
41.9538
,
AUD
36.4897
37.2195
,
SAR
15.1424
15.4452
,
AED
15.4648
15.7741
,
ZAR
2.9861
3.0458
,
CNY
7.846
8.0029

addis

nbe

dashen

USD
56.8022
57.9382
,
GBP
67.5744
68.9259
,
CHF
59.5391
60.729882
,
SEK
4.695
4.7889
,
NOK
4.6818
4.775436
,
DKK
7.3318
7.478436
,
JPY
0.3324
0.339048
,
CAD
37.2237
37.9682
,
SAR
13.7039
13.977978
,
AED
13.9956
14.275512
,
EUR
60.4375
61.6463
,
DJF
0
0
,
INR
0
0
,
KES
0
0
,
AUD
33.0232
33.6837
,
ZAR
0
0
,
CNY
7.1006
7.2426
,
KWD
175.9743
179.4938
,
AED

oromia

USD
55.4509
56.5599
,
EUR
58.7724
59.9478
,
GBP
64.394
65.6819
,
SAR
13.3775
13.6451
,
CHF
59.3141
60.5004
,
AED
13.662
13.9352

lion

USD
56.7914
57.9272
,
GBP
67.5127
68.863
,
EUR
60.3636
61.5709

coop

USD
56.7329
57.8676
,
GBP
71.9543
73.3934
,
EUR
61.6516
62.8846
,
SAR
15.1247
15.4272
,
AED
15.4472
15.7561

gadaa

USD
56.7914
57.9272
,
GBP
67.5127
68.863
,
EUR
60.3636
61.5709
,
AED
13.9945
14.2744
,
SAR
13.7012
13.9752
,
CHF
59.3909
60.5787

hijra

EUR
61.5525
62.7836
,
USD
56.0843
57.206
,
GBP
71.5355
72.9662
,
AED
15.2681
15.5735
,
CAD
41.9322
42.7708
,
SAR
14.9478
15.2468

In a recent turn of events, the Commercial Bank of Ethiopia (CBE) faced a significant challenge as its systems encountered a major failure, leading to widespread service disruptions. This incident has brought to light the vulnerabilities in the banking sector’s digital infrastructure and the critical need for system upgrades.

A Nationwide Impact

Early on a Saturday morning, customers across the nation were met with an unexpected halt in services. The CBE’s system crash rendered all banking operations inaccessible, from ATMs to mobile banking, affecting over 1,950 branches. The inability to access funds led to a cascade of inconveniences for customers, including missed payments and the accumulation of late fees.

Identifying the Cause

The root of the problem was traced back to the core banking platform, with specific issues in the debit and credit reconciliation processes on customer accounts. The bank’s immediate response was to acknowledge the service disruptions, although details regarding the technical faults and recovery plans were sparingly provided.

Expert Insights

Analysts have pointed out that the outage likely stemmed from outdated hardware and software systems. They emphasize the pressing need for modernization within the bank’s core system to prevent such extensive service interruptions in the future.

Restoration and Reassurance

Following the system crash, the National Bank of Ethiopia (NBE) stepped in to clarify that the disruption was linked to system updates and inspection works. Services were promptly restored, and the central bank assured the public that the financial systems remain secure, encouraging continued use of banking services without fear.

Looking Ahead

The CBE’s system crash serves as a stark reminder of the importance of investing in robust digital infrastructure. As the bank moves forward, it is imperative to implement comprehensive upgrades to ensure reliability and security for its customers, thereby reinforcing trust in Ethiopia’s banking system.

This news aims to provide an overview of the recent system crash at the Commercial Bank of Ethiopia and its implications.