Foreign Currency Banking

ABa Foreign Currency Banking

Foreign Currency Banking

Amhara Bank S.C. provide Foreign Currency Banking to its esteemed customers, and facilitates international payments, handles import and export transactions, and provides expertise advice to customers to ensure the smooth flow of cross border trade.

Work With Us!

Do you want the best banking service in Ethiopia?

Open Account Now

Foreign Currency Deposit Products

Is a saving denominated in acceptable foreign currency and to be maintained in the bank.

Features

It is an interest bearing account.
The interest rate is to be calculated in foreign currency, but to be paid in local currency.
The minimum interest rate is LIBOR plus 4 percent subject to revision from time to time by NBE.

Features

7% interest on saving;
Access to dedicated relationship manager;
Mortgage loan facility at a discount interest rate (e.g. 20%, 80% equity contribution, 30%, 70% ...);
Other special facilities like equity contribution at lower lending rate;

Features

7% interest on saving;
Access to dedicated relationship manager;
Mortgage/Vehicle loan facility (i.e. 20%, 80% or 30%, 70% equity contribution...); whereas the equity contribution and loan repayment shall be effected by the foreign currency;
Access to tourists loan facility not exceeding birr 100,000; the loan repayment shall be effected by the foreign currency and the repayment period shall not exceed one year.

Features

7% interest on saving;
Access to dedicated relationship manager;
Mortgage loan facility (i.e. 20%, 80% or 30%, 70% equity contribution...);
Other special facilities like equity contribution;
Access to tourists loan facility not exceeding birr 150,000. (The loan repayment shall be effected by the foreign currency and the repayment period shall not exceed one year period);
Ease of access for Mortgage and Vehicle loan facility;

Features

7% interest on saving;
Access to dedicated relationship manager;
Mortgage loan facility (i.e. 20%, 80% or 30%, 70% equity contribution...);
Other special facilities like equity contribution;
Access to tourists loan facility not exceeding birr 100,000. The loan repayment shall be effected by the foreign currency and the repayment period shall not exceed one year period;
Ease of access for Mortgage and Vehicle loan facility.

Features and Benefit

Current account withdrawal by cheque
Minimum initial deposit is USD 100 or its equivalent

Eligible Criteria

Non Resident Ethiopian and Non Resident Foreign Nationals of Ethiopian Origin

Features and Benefit

The form of fixed or time deposit
Deposit certificate, issued in the name of depositor
The minimum initial deposit is USD 5000 or other equivalent currency
Maturity period and interest rate shall be agreed
Minimum maturity period is three months

Eligible Criteria

Non Resident Ethiopian and Non Resident Foreign Nationals of Ethiopian Origin

Features and Benefit

Interest bearing foreign currency saving account
To be maintained in Birr for local payments
Minimum to open the balance is USD 100 or its equivalent
Attractive interest rate compounded monthly

Eligible Criteria

Non Resident Ethiopian
Non Resident Foreign Nationals of Ethiopian Origin

Features and Benefit

Account opened with authorization from NBE
Can transferred (repatriate) without obtaining exchange control permit
The accounts credited by
- Transfer from abroad
- Payments from residents of Ethiopia
- Payment from Other NR accounts
These accounts can be debited
- cash withdrawal in birr
- transfer to other local currency account or NR account
- sale of foreign currency
- Cheques drawn in favor of any person resident outside Ethiopia.

Eligible

Foreign Embassies, Legations, Consulate, (Except Honorary consulates)
United Nation and Africa Union Organizations
Non-Residents of Ethiopia
Residents of Ethiopia who qualify for the remittance of funds abroad ( g. NGOs)
Official members of Diplomatic Corps holding Diplomatic Passports

Features and Benefit

A duplicate of NR foreign currency account except maintained in local currency (Birr)

Eligible Criteria

Foreign Embassies, Legations, Consulate, (Except Honorary consulates)
United Nation and Africa Union Organizations
Non-Residents of Ethiopia
Residents of Ethiopia’s who qualify for the remittance of funds from abroad( like NGOs)
Letter of Authorization from NBE

Features and Benefit

Designed for Staff members of Diplomatic mission and UN organizations
Credited with
- foreign transfer from abroad
- from other NRT Birr or NR fcy account
- payment from residents of Ethiopia with authorization of Exchange control
Account shall be debited to effect various payments in local currency

Eligible Criteria

Foreign Employees of Embassies, consulates, Legations, ECA, AU, UN who are not holders of Diplomatic Passport or its Equivalent

Incentivize for exporter of goods, services and recipients of inward remittance.

Features of the Product

Recipients shall retain 20% of their earning in foreign currency.

Eligible

Exporter of goods/Service
Recipients of inward remittance
Merchants and/ or Entities licensed by NBE who receive foreign currency electronic payment.

DOMESTIC BANKING

INTERNATIONAL BANKING

DIGITAL BANKING

LOAN SERVICES