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Business Current Account

HomeBusinessBusiness Current Account

Business Current Account
As a businessperson, you need simpler banking tailored to who you are and what you need!

This account is designed to offer a convenient means of managing transactions and payments for businesses.

Current Account
Our Current Account allows you to deposit and withdraw any amount of money at your convenience.
Fixed time account
Fixed term deposits yielding high returns.BIB Fixed Deposits are accounts opened for fixed contracted periods.
Foreign Currency Deposit
Foreign Currency Deposit is applicable in our bank


The following are eligible to open deposit account with our bank.

  • Business organizations that have legal personality;
    • Financial institutions
    • Individual traders (Sole Proprietorship)
    • Private Limited Companies and Share Companies
    • Organizational legally incorporated in the form of partnership
    • Public and private schools
    • Colleges and universities- government and private
    • Public enterprise, etc.
  • Provident Fund Scheme Units of organizations;
  • Non-Governmental Organizations (NGOs, both local and international)
  • International Organizations and Diplomatic missions;
  • Religious organizations;
  • Associations, such as;
    • Peasant Associations
    • Kebele Associations
    • Credit Associations
    • Professional Associations
    • Edit, etc.
  • Housing cooperatives
  • Ethiopian living abroad
  • Foreign citizens of Ethiopian origin
  • Foreign citizens who have a resident permit or investment permit.
Easy-to-effect deposits and withdrawals
A cheque book is issued to facilitate payments
Monthly statements issued to track transactions
Loan facilities
Account Opening Requirements
General Requirement for opening an account

 A valid identifications card (ID) issued by legally established organizations such as:
 Kebele
 Farmers Associations
 Employer organizations
 Pensioner
 Schools, colleges, universities
 Driving license issuers
 Issuers of passport and work or resident
 Permits one photo for all types of deposits
 Trade license (for current accounts). The branch manager may, however, authorize opening of a current account without a trade license.
Individual Traders (Sole Proprietors) should present
 ID Card
 Renewed trade license. The branch manager may authorize the opening of current account (C/A) with trade license.
Financial Institutions Should Present:
 Article of association
 Memorandum of association
 Certificate of registration
 License from NBE
 Resolution of Board of Directors, if necessary I.D card of the authorized signatures
Housing Cooperatives, Edir, and other associations should present
 Letter of support or certificate of registration from the appropriate government body certifying the establishment of the association or
 Edir, Duty registered memorandum and and articles of associations, where applicable
 Formal letter indicating the person(s) empowered to operate the bank account per the memorandum and articles of association
 Valid ID of the incumbents named to operate the account.
Religious organizations should present
 Application letter to open an account
 Letter of support from the patriarch or his designate, for the Orthodox Church
 Letter of support from the cardinal or his designate, for he catholic church
 Letter of support from the Islamic council office, for Islamic organization
 Letter of support from the president or his designate, for Ethiopian Evangelical Mekaneyesus Church;
 For all other religious denominations, letter of support from the ministry of justice or office of Association and registration or the next higher echelon/organ of the specific denomination, as the case may be
 Valid ID of the persons who operate the account
 Memorandum and articles of association or other relevant documents
 Certificate of registration or other relevant documents
Local and Foreign NGOs should present
 Application letter to open an account
 Authorization from the ministry of justice to operate in the country (for both foreign and local NGOs)
 Authentication letter from the ministry of foreign affairs (for foreign NGOs)
 Letter of support from Disaster Prevention and preparedness commission (for bothe foreign and local NGOs)
 Constitution/charter or any other document, which governs the specific NGO
 Names of persons authorized to operate the account as specified in the constitution/charter or any other document
 Valid ID or passport of the persons who are appointed to operate the account
 Work or residential permit (for foreign nationals)
Public Enterprise should present
 Formal letter from the respective Board of Directors or General Manager, as the case may be, specifying, among other things, the names of authorized signatories to operate the account.
 Letter of appointment from the General Manager
 Negarit Gazetta bearing relevant proclamation for its establishment
 Valid ID of the authorized signatories
 Cooperative societies should present
 Minute of members’ resolution at the last general assembly if it is under the process of formation- and a letter of intent signed by all members.
 Application letter to open an account specifying, among others, the names of signatories to operate the account.
 Certificate of registration issued by the appropriate authority.
 Letter of authorization from the respective organization body
 Approved and registered co-operatives’ rules and regulations, which shall bear the official stamp of the registering body and the co-operatives
 Valid ID of the authorized signatories.
Trade Unions should present
 Application letter to open an account specifying, among others,
 The names of signatories to operate the account, certificate of registration from the Ministry or Regional Bureau of Labor and Social Affairs.
 Approved and registered rules and regulations of the trade union
 Resolution of the general assembly appointing the executive committee of the trade union
 Minutes of the Executive Committee relating to opening an account
 Valid ID of the authorized signatories.
Provident fund schemes units should present application letter from the organization, which maintains provident fund for its employees. The provident fund accounts shall be operated according to the instruction given by the organization.