Qard Current Account
The Current Account product, offered based on the contract of Qard, shall allow current account holders ready access to their money placed with the Bank.
Product Features
- Safe custody
- The customer does not share any loss or profit with the Bank
- Cheque book facility is available to provide ease of withdrawal
- High Transaction Amounts
- Free and limitless inter and intra-bank transfer of funds (only local)
- Free monthly account statement
- Individual account holders are entitled to debit card, Internet and mobile banking facility
- Initial Deposit ETB 100 with no minimum or maximum deposit and withdrawal limit
- Can be withdrawn with Cash, ATM, POS, Account to Account transfer, Debit Card, Standing instruction and internet and mobile transaction
Basic Requirements
For Sole Proprietors
- Valid and renewed ID card, passport, Driving License, Other government issue ID cards
- Tin registration certificate, Renewed trade license and commercial registration certificate
- The customer should be engaged in Shari’ah compliant business [Halal Business]
- Initial Deposit
For Artificial Persons [Partnership, Assn., PLCs, Share Companies, etc.]
- Renewed trade license, commercial registration and certificate of the company
- Tin registration certificate
- Authenticated Memorandum and Article of association
- The minutes of the meeting of the board of directors held to discuss the opening and operation of the account
- A letter of request to open and operate the account
- The customer should be engaged in Shari’ah compliant business [Halal Business]
- A valid and renewed ID card of the authorized person
