Diaspora Mudarabah Fixed Time Deposit
An FCY denominated fixed time deposit account for Ethiopian Diasporas. The deposit is opened, operated and the principal amount can be repatriated back in to a foreign country after the maturity period by the customer.
Product Features
- Crediting from local source is prohibited
- Serve as collateral or guarantee for loans or bids
- Can be repatriated to abroad after maturity
- Initial Deposit : USD 5,000
- Minimum deposit amount : USD 5,000
- Maximum deposit amount : No Limit
- Withdrawal Limit : Not Allowed
Basic Requirements
For Natural person [Retail Business Segment]
- Has to be of legal age [>= 18 years]
- Present valid and renewed ID card and two recent photographs (3×4)
- The customer should be engaged in Shari’ah compliant business [Halal Business]
- Initial Deposit.
For Artificial Persons [Partnership, Assn., Ço-ops., PLCs, Share Companies, etc.] MSME &Corp.
- Valid and renewed Ethiopian origin ID, passport or ID where nationality is explicitly defined
- Valid resident and/or work permit that certify the Ethiopian National living and working abroad for more than one year
- Tin registration certificate, Renewed trade license and commercial registration certificate (For MSME and Corporate)
- The customer should be engaged in Shari’ah compliant business [Halal Business]
- \Initial Deposit.