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Farooq

Foreign Currency Account

HomeBusinessForeign Currency Account

International Banking - Foreign Currency Account

  • Foreign Currency Account

    Non-Resident Foreign Currency Accounts (NR-FCY)

    BIB opens and maintains accounts denominated in foreign currency that provides the Account Holders the privilege to instruct transfer of funds aboard without foreign exchange permit approval or make local payments in Birr.

    Non-Resident Transferable Birr A/Cs (NR/T)

    BIB opens and maintains accounts denominated in Birr but provide the eligible Account Holder the privilege to draw in foreign currency without foreign exchange permit approval.

    Non -Resident Non-Transferable Birr A/Cs (NR/NT)

    BIB opens and maintains accounts denominated in Birr that can only be operated in local currency unless foreign exchange permit approved by the Bank is obtained.

    Diaspora Accounts
    BIB opens and maintains foreign currency current and/or time deposit accounts to non-resident Ethiopians and foreign citizens of Ethiopian origin.

    Retention Accounts

    BIB opens and maintains foreign currency accounts for exporters and frequent recipients of foreign exchange remittance to enable retain all/portion of their export earnings and inward remittances.