These types of accounts are opened for Aid Agencies, NGOs, etc who reside in Ethiopia. Opening of such accounts require the following: –
a) Written authorization from National Bank of Ethiopia. Authorization letter will indicate name of opener and applicable type of currency.
b) Filling account opening application of Dashen Bank.
c) Valid passport /work permit/residence permit (in the case of individuals).
d) Article & Memorandum of Association (in the case of institutions).
e) If institutions, delegation letter to open and operate account (person who sign delegation letter should be the one specifically empowered to delegate account operators in the Article & Memorandum of Association).
Important points to be noted
a) Credits/deposits to these accounts are allowed only from sources abroad and from any of NR accounts in Dashen Bank (foreign currency or NR Transferable ETB or NRNT accounts.) Transfers can be done by SWIFT/Wire Transfers through foreign banks, foreign currency cash notes supported by customs declaration at the time of entering the country (airports or borders), foreign remittance service providers like Western Union and withdrawals by foreign payment cards.
b) Credits/deposits are not allowed from domestic accounts or by ETB cash notes.
c) Transfers from these accounts to foreign countries always require permit approval.
d) Transfers or payments from these accounts can be done to any ETB denominated accounts within Ethiopia.
e) Transfers to other foreign currency denominated accounts require permit approvals in line with Exchange Regulation of Ethiopia.
f) Accounts are non-interest bearing.