These types of accounts are opened only for Ethiopian exporters. Opening of such accounts require the following: –
a) Filling account opening application of Dashen Bank.
b) Copy of export trade license.
c) Article & Memorandum of Association (in the case of institutions).
d) 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 export proceeds. Transfers can be done by SWIFT/Wire Transfers through foreign banks, foreign currency cash notes deposited by foreign counter part 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 encashed by foreign counter part.
b) Transfers from these accounts to foreign countries should be for transactions approved by Exchange Regulation related to such accounts. However, payments for imports require import permit approvals.
c) Transfers or payments from these accounts can be done to any account within Dashen Bank for transactions approved by Exchange Regulation related to such accounts. Transfers to other bank accounts and all cash payments locally will be done only in Ethiopian Birr (ETB).
d) Accounts are noninterest bearing.