Forex Service

Forex Service

Zemen Bank is your choice for any foreign Currency exchange. We accommodate multi-currency exchanges via our:

Foreign Currency account for Foreign Entities

It is an account opened for eligible non – residents to facilitate the payments (both in local and foreign currency) by Embassies, foreign business community, international organizations and foreign NGO’s. This account is non-interest-bearing checking account. The balance in this account is kept in foreign currency. A deposit to such account can be made from a transfer in hard currency, foreign cash notes, and a check drawn on a non- resident account. Holders of this account could draw foreign currency for travel purposes for their expatriate missions, transfers abroad, etc. A payment in Birr from this account is also possible.

Foreign Currency account for Resident of Ethiopia, Non-Resident Ethiopians and Ethiopian Origins

  • Non Resident Ethiopian Nationals working and living abroad for more than one year

Non Resident Foreign Nationals but Ethiopian Origin.

  • Resident of Ethiopians: Individuals, Not for profit organizations, foreign individual employees of Foreign Entities (FDI companies, Embassies, International Organization, Foreign NGO’s)

Retention Account

Forex Service

This is an account dedicated for Exporter of Goods and Services as well as Merchants and /or Entities licensed by NBE to collect cash notes and credit card/debit card/ prepaid card/ for the goods and service they sell. The balance in this account can be used without restriction by the account holder.