Opening An Account in Ethiopia
Opening An Account in Ethiopia
Opening An Account in Ethiopia
Quick facts on how Ethiopians and Ethiopian Origin living in the Diaspora can open the
Foreign Currency Account in their country of origin.
Requirements
1. All Ethiopian nationals and foreign nationals of Ethiopian origins living and working abroad
outside Ethiopia for more than one year i.e. a non-resident and holder of a valid Ethiopian
passport for Ethiopian Nationals and identification card for Non-Resident Foreign Nationals of
Ethiopian Origin (attesting that s/he is a foreign national of Ethiopian origin)
2. Business entities owned by by non- resident Ethiopians and located outside the Ethiopian
territory for more than one year.
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Opening an account in Ethiopia
Persons living abroad may contact the opening bank in person, by post, e-mail, fax, telex, and
or/ other electronics media authorized by the bank to open an account in his/her name.
- Procedure Manual For Opening and Operating Non-Resident Foreign Currency Accounts
for Non-Resident Ethiopians and Non-Resident Foreign Nationals of Ethiopian Origin
(National Bank of Ethiopia, 16 July 2004, PDF )
A. The US Dollar
B. Pound Sterling
C. Euro
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Opening an account in Ethiopia
1. Fixed account
2. Current account
3. Birr Account
2. Bank of Abyssinia
- It is an interest bearing account with agreed maturity date. The minimum maturity period is
three months.
- It is opened with an initial deposit of US Dollar 5,000 or its equivalent in any of the above
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Opening an account in Ethiopia
stated currencies.
- Interest on such accounts shall be payable only if they are maintained at least for the
minimum period.
- Interest income on such accounts is tax-free.
- It may take the form of saving deposit account that can be used for local payments only.
- Such account will pay double interest of the minimum saving deposit rate set by the
National Bank of Ethiopia.
- Money can neither be transferred from this account to abroad nor converted from the local
currency to any foreign currency.
http://www.combanketh.com/home.php?id=51
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Opening an account in Ethiopia
2. A Savings Account: Deposits and withdrawals are made using the Bank's form. It is an
interest bearing account.
3. A Special Saving Account: It can be operated using special check. It is an interest bearing
account.
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Opening an account in Ethiopia
Bank of Abyssinia
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Opening an account in Ethiopia
For more information click here the for the website of the Bank.
http://www.bankofabyssinia.com/Information%20to%20Ethiopians%20in%20the%20Diaspora.
htm
- http://www.anbesabank.com/Diaspora_account.php
REMITTANCE SERVICE
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Opening an account in Ethiopia
- A Brief
(Provision
Directive
for International
of the Remittance
Remittance
Service Service 2006, PDF
for Non-resident Ethiopians
) and Non-resident foreigne
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