Non-Resident Transferable
Ethiopian Birr (ETB) Account |
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These types of accounts are
opened for international institutions, embassies,
foreign individuals who reside in Ethiopia, etc.
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 some of NR
accounts in Dashen Bank (foreign currency or NR
Transferable ETB 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) Dashen Bank’s prevailing
selling rate will be applied if payments are to be
made in foreign currencies.
d) Transfers from these
accounts to foreign countries do not require permit
approval.
e) Payment instructions for
travel abroad can be made in cash notes, transfer to
foreign accounts, etc.
f) Payments for imports
require import permit approvals.
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