Diaspora Wadi’ah Saving Account
An FCY denominated trust agreement where the Bank accepts deposit from its Diaspora customers looking for safe custody of their funds & degree of convenience in their use.
Product Features
- Safe custody
- Non profit and loss bearing deposit
- A non-repatriate Birr saving account that can be used for local payments only
- Limitless deposit and withdrawal
- Operated by passbook
- ATM/POS , Debit card, Internet and mobile banking facility
- The Bank may at its own discretion give Hibah (monetary or in kind) for the customers
- Free, convenient and limitless intra-bank transfer of funds (only local)
- Initial Deposit USB 100 with no minimum deposit and withdrawal limit
- Withdrawal can be done thorough Cash/ Account to Account Transfer, Debit Card, Internet/Mobile banking
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)
- One recent photograph (3×4)
- The customer should be engaged in Shari’ah compliant business [Halal Business]
- Initial deposit [The Branch Manager has the discretion to open zero balance account]
