Other Special Deposit
Hadji wadi’ah saving
Single purpose (Hadji pilgrimage) Wadi’ah saving account to customers that aspire to travel for the Islamic pilgrimage in Meca
Product Features
- Safe custody
- Operated by pass book
- The customer does not share any risk or profit with the Bank
- Free gift hajj package
- Withdrawals are not encouraged in order to let the accountholders eligible to the attached benefits of the product;
- Initial Deposit ETB 500
- Minimum deposit amount : ETB 500
- Maximum deposit amount : No Limit
- Withdrawal Limit : Not encouraged
- Designed specifically to help customers realize their lifetime dream of fulfilling one of the fundamental pillars of Islam – pilgrimage to Mecca.
- Withdrawal mode:- Highly Discouraged but not prohibited, Cash/ Account to Account Transfer (Over The Counter), Debit Card, Internet/Mobile banking
- Maturity: The customer is encourage to save for the service to mature within one year. When the deposit reaches at least 50% of the projected cost of the pilgrimage
Basic Requirements
- Present valid and renewed ID card and two recent photographs (3×4)
- Initial Deposit
Youth Wadi’ah Saving Account
Sharia compliant basic safe keeping (saving) account for minors operated by legal guardians, in which the minors learn to save and money management.
Product Features
- Issuance free quarterly statement
- Operated by pass book
- 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 ETB 100 with no minimum or maximum deposit and withdrawal limit
- Withdrawal is highly discouraged but not prohibited
- Maturity: When the customer reaches the legal age of consent (18 years)
Basic Requirements
- Birth Certificate issued by government authority or hospital
- Valid and renewed ID card, passport, Driving License, Other government issue ID card of the guardian
- Two recent photographs (3×4) of both the minor and the guardian
An-Nissa Wadi’ah saving Account
Shari’ah compliant safe keeping account for Women customers designed specifically to meet the financial needs of women & tailored to help them achieve their savings goals and financial independence.
Product Features
- The customer does not share any risk or profit with the Bank
- Free service charge for fund Transfers within the Bank or Lower Transaction Fee
- ATM/POS , Debit card, Internet and mobile banking facility
- Operated by pass book
- Contains special debit card so that women can get various services like shopping with discounts and cash back
- The Bank may at its own discretion give Hibah (monetary or in kind) for the customers
- Initial Deposit ETB 100 with no minimum or maximum deposit and withdrawal limit
- Withdrawal can be done thorough Cash/ Account to Account Transfer, Debit Card, Internet/Mobile banking
Basic Requirements
- Present valid and renewed ID card and two recent photographs (3×4)
- Initial Deposit
Qard Non-Resident Foreign Currency Account
It is a non interest bearing account opened and operated by check catering to expats (foreign nationals, employees of international organizations [UN, AU, etc.], NGOs, International organizations, Embassies/its employees living/operating in Ethiopia.
Product Features
- Non-interest bearing unless authorized by NBE
- It can be operated by check or pre-arranged agreement with the client
- Deposits from local source is prohibited
- No exchange commission is levied upon transfer to abroad.
- Can be used for travel allowances upon presenting valid travel documents
- Can be transferred to other eligible foreign currency account(s) in FCY
- Initial Deposit : USD 100
- Minimum deposit amount : FCY, No Limit
- Maximum deposit amount : FCY, No Limit
- Withdrawal Limit : ETB-No Limit
- Withdrawal can be made through cash and over the counter upon the presentation of travel document
Eligibility Requirements
- Present valid and renewed Resident/Diplomatic ID, Passport
- A letter of application which is signed by the ambassador or her/his delegate
- 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
Qard Foreign Exchange Retention Account A and B
Non-interest bearing foreign currency current account which is maintained to credit the proceeds of export made through the Bank to enable the customer use the hard currency for import of goods related to the export business.
Product Features
- No check book is issued
- Credit of FCY received from exporters through SWIFT
- Regular remittance recipients can also open the account
- Crediting from local source is prohibited
- Easier access for import of goods without the need for waiting on queue
- No exchange commission is levied upon foreign transfer.
- Deposit of foreign cash notes
- It is not interest bearing account
- Upon presentation of valid custom declaration
- Hotels and other establishments upon presentation of renewed License issued by NBE
- Deposit amount (ACT “A”) : FCY 30% of the export proceed indefinitely
- Deposit amount (ACT “B”) : FCY 70% of the export proceed up to 28 days
- Initial deposit : FCY, No Limit
- Maximum deposit amount : No Limit
- Withdrawal Limit : No Limit
- To import goods/effect service payment related to the business
Eligibility Requirements
- Present letter of application to open and operate the account and one recent photograph (3×4)
- Tin registration certificate, Renewed trade license and commercial registration certificate (For Exporters)
