Interest-earning foreign currency deposit account tailored to the Ethiopian Diaspora community
Account Features
- Initial deposit to open account is USD 100 or other foreign currencies equivalent to the same USD amount
- Deposit to account can be made through swift transfer or via money transferring agents
- The amount deposited can be in Foreign currency or the foreign currency can be converted into Birr when deposited
- Direct withdrawal in Foreign currency amount is not allowed
- Upon opening the account no passbook will be issued, rather a card is prepared to serve as notification for the opening of an account
- Withdrawal can be made by appearing in person to any of Hibret Bank’s branches or by ordering a standing transfer instruction to a beneficiary
Account Benefits
- The deposit account will serve as collateral to get access to the Bank’s credit facility including personal loan, housing loan, automobile loan as well as loans to participate in Diaspora direct investments
- The interest rate will be double of the minimum ordinary saving deposit interest rate
Entitlement
- Ethiopians living abroad for more than one year and Ethiopians by birth but having different nationality
