← Ethiopian Regulatory Landscape for International Operations

Correspondent relationships and the AML/CFT programme

Module 04 / 5 · 70 min

Run correspondent relationships that foreign banks trust, and an AML/CFT and sanctions programme that meets FATF and correspondent expectations.

In this module you will learn to

Explain nostro and vostro accounts, SWIFT messages and nostro reconciliation
Complete and review correspondent due diligence using the Wolfsberg questionnaire
Assess de-risking pressure and the bank's AML/CFT programme against FATF expectations
Detect trade-based money laundering, screen for sanctions and report suspicion to the Financial Intelligence Service

Built on

Erudite Africa training module: Ethiopian Context, topic 1.c Ethiopian Regulatory Landscape for International Operations, Level 2 Intermediate (October 2026)
NBE directives as listed in the lessons: FXD/01/2024, FXD/04/2026, FXD/05/2026, FVD/01/2026, SBB/94/2025, SBB/96/2025, SBB/99/2026, SBB/87/2024, SBB/89/2024, SBB/91/2024, NBE/INT/13/2026, and the MPC No. 7 release (13 July 2026)
NBE Proclamation No. 1359/2025 and Banking Business Proclamation No. 1360/2025
Investment Proclamation No. 1180/2020, Council of Ministers Regulation No. 474/2020 and Ethiopian Investment Board Directive No. 1082/2025
FATF Recommendations and the Wolfsberg Group Correspondent Banking Due Diligence Questionnaire (international standards)
AML/CFT Proclamation (reported as No. 780/2013) and Customs Proclamation (reported as No. 859/2014, as amended), to be confirmed against the official texts

Examples and companies are fictional. Bank practices are shown as typical Ethiopian practice, not as any one bank's policy. Always apply your own institution's approved policy and the current NBE directives.