• It is a deposit account targeted for Ethiopians in Diaspora to open and use foreign currency account at home country.
• Individuals and companies can open this account.
• This account can serve as collateral to get credit in local currency.
• Deposit is made in one or more of the following currencies:
• US Dollar
• Pound Sterling
• Euro

• It is an interest bearing account with agreed maturity date. The minimum maturity period is three months.
• It is opened with an initial deposit of US Dollar 5,000 or its equivalent in any of the above stated currencies.
• Interest on such accounts shall be payable only if they are maintained at least for the minimum period.
• Interest income on such accounts is tax-free.

• It is operated by cheque book.
• Withdrawals can be made at any time by writing a cheque.
• It can be opened with an initial deposit of US Dollar 100 or its equivalent in any of the above stated currencies.
• The maximum amount to be deposited shall not exceed US Dollar 50,000 or its equivalent in any of the above stated currencies.
• Non-Interest bearing account.

• It may take the form of saving deposit account that can be used for local payments only.
• Such account will pay double interest of the minimum saving deposit rate set by the National Bank of Ethiopia.
• Money can neither be transferred from this account to abroad nor converted from the local currency to any foreign currency.

• Non-resident Ethiopian nationals living and working outside Ethiopia.
• Non-resident foreign nationals of Ethiopian origin.
• Companies owned by the above-mentioned non-residents and located outside the Ethiopian territory for more than one year.
• Ethiopian nationals living and working abroad or in due process of living abroad for work for more than one year and who can produce authenticated documents.

• Persons residing abroad can open the account in person or by post in his/her name.
• Applicants who could not be physically presented to open the account in the domestic banks can use the Ethiopian Embassies, Correspondent Banks or nearby remittance service providers to prove their identities.
• Opening of a foreign currency account by Power of Attorney is not allowed. However, Power of Attorneys are allowed to withdraw from these accounts provided that the Power of Attorney explicitly empowers them to operate these accounts.
• An individual may open current account in only one of the domestic banks whereas he/she may open fixed deposit accounts in more than one bank.

• Upon the request of the account holder.
• When the account holder starts to live in Ethiopia after completion of his/her stay abroad.

• Application forms properly filled and signed by the applicant.
• Ethiopians or foreign nationals of Ethiopian origin shall present valid passport and/or identification card.
• For businesses, Certificates of ownership /entitlement for the organization and/or Articles and Memorandum of Association.

For further information refer the following National Bank document
NBE Directive