Diaspora Account

Who is eligible to open Diaspora accounts?

• Non-Resident Ethiopian
• Non-Resident Foreign Nationals of Ethiopian Origin

What kind of Diaspora accounts are allowed to open?

• Diaspora Current Account
• Fixed or Time Deposit Account
• Non-repatriable Birr Account

To open Diaspora accounts, what kinds of documents are needed?

• Properly filled and signed application by account holder
• Can be operate by power of attorney
• Resident Permit/Certification
• Valid passport and/or identification card
• Certification of ownership entitlement for the organization and/or article and
  memorandum of association

What types of currencies are allowed to maintain the Diaspora accounts?

• The US Dollar
• Pound Sterling
• Euro

Minimum foreign currency cash requirement to open Diaspora accounts?

• For an individual USD 100 or its equivalent
• For fixed time deposit USD 5,000 or its equivalent

How to credit Diaspora accounts?

• The account holder
• The spouse of the account holder upon presentation of marriage certificate
• The employer upon presentation of valid employment agreement
• The business entity owned by the account holder or share company upon presentation of documents ascertaining the shareholding

What’s in it for you?

• Make local payments in Birr
• Make foreign payments for import
• Effect Transfer abroad
• Withdraw for travel in cash notes
• Convert into a Birr account at the prevailing exchange rate
• Serve as collateral or guarantee for loans or bids
• Can be withdrawn against a cheque written and a withdrawal slip
  Repartition of the deposit