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Quick facts on how Ethiopians and Ethiopian Origin living in the Diaspora can open the Foreign Currency Account in their country of origin.
v Who can open the Foreign Currency Account? 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. v Types of Foreign Currency Account
Directive No. FXD/25/2006 Amendment to Directive No. FXD/25/2005
vHow to open the Foreign Currency Account? 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.
vWhat are the types of currencies? A. The US Dollar B. Pound Sterling C. Euro
vWhat are the types of Permitted Accounts?
v Where Ethiopians in the Diaspora get these services?
vvv Diaspora Account Ethiopians living abroad can open: a) A Checking Account: It is a non-interest bearing account. b) A Savings Account: Deposits and withdrawals are made using the Bank's form. It is an interest bearing account. c) A Special Saving Account: It can be operated using special check. It is an interest bearing account. d) A Non-Interest Bearing Account in Foreign Currency will, in future, be allowed for Ethiopians living abroad. Steps for opening of Special Savings Account
1.Read Carefully the “Terms and Conditions" 2. Fill the forms 2.2 Specimen Signature Form in two copies 2.3 List if Correspondent Banks with Bank of Abyssinia
3. Sign as per terms and conditions 4. Send the documents through snail mail to the following address; The Manager, Filwuha Branch (You can use other branches as indicated in Bank lists)Bank of Abyssinia P.O. Box 12947 Addis Ababa, Ethiopia
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vv በውጭ አገር የሚኖሩ ኢትዮጵያውያን በሀገር ውስጥ የውጭ ምንዛሪ እንዲከፍቱ የሚፈቅደውን መመሪያ በሚመለከት የተዘጋጀ መግለጫ፡፡
vv
ከውጪ ወደ
ሀገር ውስጥ ገንዘብ የመላክ አገልግሎትን በተመለከተ የወጣ መመሪያ የኢትዮጵያ ባሄራዊ ባንክ መመሪያ ቁጥር
ኤፍኤክስ ዲ30/2006
There are two short ways of applying to open foreign currency
account in the commercial bank of Ethiopia.
A. Download the Diaspora accounts application form, print it, fill and sign it correctly. Application form for foreign currency Account B. Scan, the signed application form, your passport /Ethiopian origin ID if you are a foreign citizen/ and your resident ID. C. Send it through e-mail (cbeftnrt@ethionet.et) directly to attention International Department of the commercial bank of Ethiopia. D. The department of the bank will open the account and communicate you the account number so that you could wire your initial deposit either through SWIFT or other sending mechanisms. E. Wire the money to your directly to your account number with in two weeks period from date that the bank communicate let you know the number. F. When you need to transfer money to the account any time, you will just wire the money directly to your account number. G. The bank will send you your bank statement through your address. 2. Application through Embassies: A. Download the Diaspora accounts application form and print it, or collects the copy of it from the embassy, fill and sign it. Application form for foreign currency Account B. Get copy of your passport/Ethiopian origin ID if you are a foreign citizen/ and your resident ID. C. Forward the signed application form along with the above documents to the embassy for authentication. D. Send all the above documents by yourself through post office or drop them with the embassy so that the embassy could send it to the bank. E. Within two weeks time, the bank will open the account and send your account through the embassy or through your own address. F. Wire the money to your account number with in two weeks period. G. When you need to transfer money to the account any time, you will just wire the money directly to your account number. H. The bank will send you your bank statement through your address or through the address of the Embassy.
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Contact Address:- Email. ethemb.community@telia.com, Tel. +4686616158, Fax. +4686608177 |
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