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Wadi’ah Deposit trust agreement where the Bank accepts deposit from its customers looking for safe custody of their funds & degree of convenience in their use

Product Features
  • Safe custody
  • Non profit and loss bearing deposit
  • Minimum opening deposit
  • 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 ETB 25 with no minimum 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  • Can be withdrawn with Cash, ATM, POS, Account to Account transfer, Debit Card, Standing instruction and internet and mobile transaction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 Natural person

  • 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.]

  • Renewed trade license, commercial registration and certificate of registration
  • Tin registration certificate
  • Authenticated Memorandum ad Article of association, Partnership Agreement
  • The minutes of the board of directors held to discuss the opening and operation of the account
  • A letter of request to open the account and operate
  • Valid and renewed ID card
  • The customer should be engaged in Shari’ah compliant business [Halal Business]
  • Initial deposit
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