Non-Resident
Non-Transferable ETB Account |
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These types of accounts are opened for Aid Agencies,
NGOs, etc who reside in Ethiopia. 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 any of NR accounts
in Dashen Bank (foreign currency or NR Transferable
ETB or NRNT 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) Transfers from these accounts to foreign
countries always require permit approval.
d) Transfers or payments from these accounts can be
done to any ETB denominated accounts within
Ethiopia.
e) Transfers to other foreign currency denominated
accounts require permit approvals in line with
Exchange Regulation of Ethiopia.
f) Accounts are noninterest bearing.
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