About CBO Diaspora Banking

Cooperative Bank of Oromia (CBO) has undergone massive transformation in recent years by adopting culture of quality customer services that aligns with contemporary banking services. Currently, CBO is the leading bank in terms of both customer base with more than 4.8 million customers and 416 branches network across the country and has more than 30 billion assets.

Following the favorable political environment prevailing in Ethiopia, Diasporas are coming back to their home land and have interests to engage in different investment opportunities. Keeping that in mind, CBO wishes to entrust you with a number of products designed for your needs while ensuring a smooth partnership no matter where you are in the world.

Our array of diaspora banking products and services on both Conventional and Interest Free Banking Windows among others, include

Diaspora deposit account

» Current account

» Savings account

» Fixed time account

» Ethiopian Citizen or Origin living in Foreign Land (ECOLFL) Savings Account

Diaspora consumer loans

» Mortgage/home loan

» Automobile loan

» Personal loan

Diaspora Business loans

» Investment financing

» Working capital loans

eBanking

» Internet banking

» Mobile banking

1. DIASPORA DEPOSIT ACCOUNT

A. CURRENT ACCOUNT

Features and Benefits

• Available in local and foreign currency (GBP,USD, and EURO)
• Personalized Cheque Books
• Debit Card on request
• Free withdrawals fee for foreign currency transactions
• Free transactions across all CBO branches
• Access to all our e-channels
• E-mail alerts and statements
• Option of Joint Signatory (e.g. spouse, sibling or parent in Ethiopia)
• Designated Personal Banker
• Financial advisory services
• Facilitation of third party payments
• Access to credit facilities

B. SAVINGS ACCOUNT

This is designed to make your money more productive back home. It is deposit account with attractive interest rates and is available in both Ethiopian ETB and foreign currency (USD, GBP & EURO).

Features and Benefits

• Attractive interest rates for all applicable currencies
• Funds are non-repatriatable
• Standing orders for transaction
• Safe and secure investment option
• Deposit can serve as collateral for personal loans and advances
• Designated personal Banker

C. FIXED TIME ACCOUNT

Features and Benefits

• It is an interest bearing account with agreed maturity date,
• The amount needed to open the account shall at least be USD 100 or its equivalent of the eligible currency,
• The minimum maturity period is three months that could be opened with an initial deposit of USD 5,000
• 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.

D. ETHIOPIAN CITIZEN OR ORIGIN LIVING IN FOREIGN LAND (ECOLFL) SAVINGS ACCOUNT

Features and Benefts

• Local currency savings account opened by non-resident Ethiopians or non-resident foreign nationals of Ethiopian origin
• An applicant(s) can open in person or through his/her/their agent at a nearby branch of Cooperative Bank of Oromia
• All deposits to the account shall be made in foreign currency
• This account will bear annual interest equivalent to the prevailing NBE set savings interest rate
• Couples can open Joint ECOLFL Savings Account

2. DIASPORA CONSUMER LOANS

A. MORTGAGE/HOME LOAN

• Construction of new residential house,
• Construction of additional house within an existing compound such as service quarters or the main house
• Purchase/acquisition of residential house

Features and Benefits

• Attractive and competitive pricing
• Loan duration is up to 20 years for local and foreign currency lending
• Equity Contribution: - from 20% of the house to be purchased or constructed
• Loan Interest Rate: - from 8.5% per annum
• The bank shall give grace period of one year
• Designated personal banker
• Facilitation with advisory services regarding development opportunities in Ethiopia

B. AUTOMOBILE LOAN

• Diaspora Automobile Loan is a term loan granted to the Diaspora for the purpose of purchase/acquisition of Automobile.

Features and Benefits

• A term loan granted for financing the acquisition of a brand-new automobile
• The bank shall grant loan for the acquisition of used Automobile whose year of make is 7 years or less
• The loan repayment period shall be upto 10 years
• The bank shall give grace period of six-months

C. PERSONAL LOAN

Features and Benefits

• Is a term loan granted for the purpose of covering the applicant’s urgent financial requirements, like expenses for domestic or foreign travel, medical treatment of self or family member, education fee, or any kind of personal expenses.
• The loan period shall be up to five years

3. DIASPORA BUSINESS LOANS;

A. INVESTMENT FINANCING

Features and Benefits

• The bank can finance up to 80% of the feasible project promoted by diaspora,
• 20% of the project shall be financed by the promoter from own equity,
• The equity contribution made to the project shall be transferred via our bank.
• Documents required to borrow for projects include legal documents (investment license, TIN, land holding certificate/lease agreement, approved construction plan, memorandum and article of association if any) and project proposal

B.WORKING CAPITAL FOR ALL BUSINESSES

Features and Benefits

• Any diaspora who is running business in Ethiopia can borrow working capital,
• Documents required for business loan include business license, TIN, tax clearance, Financial Statements or Financial Plan, Documents related to collateral to be offered,

eBANKING

• Access to your bank account via;
• Online / internet Banking
• Mobile Banking

Features and Benefts

• Notifcation via Email / SMS (where roaming allows)
• Ability to provide banking
• instructions (Standing Instructions) remotely
• Safe and secure platform
• Ability to make tax payments
• Facilitates remittances
• Account inquires anytime, anywhere
• Access to bank statements
• Single as well as bulk payments
• Funds transfer between own accounts
• Funds transfer to other accounts in CBO or other Ethiopian banks (third party transfers)
• Local and International remittance
• Utility and bill Payment
• Top-up
• Traffic penalty payment
• Bank to bank transfer
• Request for new loan or existing loan status/payment/rescheduling
• Request for new banking services such as account, Loan, LC

How to open your account with us

• Download Account opening and other related forms from our website.
• Duly completed Account Opening form and accompanying documents

Accompanying Documents

• Residence and/or work permit.
• Valid proof of Identification, Renewed passport for non-resident Ethiopians or renewed passport and yellow card for foreigners of Ethiopian Origin
• One latest passport size photograph;
• If applicable, power of attorney, copy of ID and one latest passport size photograph of the agent(s).

REMIT WITH CBO

• Make Remittance Via CBO using its SWIFT Code CBORETAA
• Or using any of the following Remittance Agents Specially for direct to your CBO account deposit and Cash Pickup

At CBO

We have a dedicated team and customers relationship manager who ensures that your day to day banking needs are met.We also offer advisory services you may require from time to time

CBO forex accounts shall be maintained in either of the below three currencies:-

                                 1. US dollar $

                                 2. Pound sterling £

                                 3. Euro €

TYPES OF NON RESIDENT ACCOUNTS

1. Non Resident Foreign Currency accounts
2. Non Resident Transferable Birr account
3. Non Resident Non Transferable Birr accounts

ELLIGIBILITY

• Diplomatic mission offices
• Diplomatic mission staffs (with the exception of Ethiopian nationals)
• Members of International Community
• International organizations and their organs

Senior Director, Strategy and Business Communication

• Halal Card: - It is debit card which is integrated with interest free banking services, especially with wadia saving accounts.it can be used on CBO POS for shopping and settlement. It can be used on any Bank’s ATM 24/7.

Upcoming Services

• E-banking
• Agent and Mobile Banking
• Ijarah Financing
• Zakat collection and Administration accounts
• Different types of Mudaraba accounts such as

1. Mudaraba Gamme
2. Mudarabaa Sinqee
3. Mudarabaa Dargaggoo
4. Mudaraba Cooperatives

1. Cooperatives Financing

1. Working capital for agricultural products
2. Working capital for exportable items
3. Input Loans
4. Agro processing
5. Mechanization
6. Dairy Farming
7. Bee keeping
8. Model Farmers, etc

      2. Resource Mobilization from cooperatives and farmers household

1. Saving culture development
2. Foreign currency
3. Remittances

      3. Capacity Building (Coops Personnel)

1. Technical Advisory role
2. Training (Local and abroad)
3. Awareness creation
4. Linkage with stakeholders (NGO, etc)

Baankiin Hojii Gamtaa Oromiyaa Vaayrasii Koroonaa/Covid 19/ ittisuuf tarkaanfiiwwan fudhachaa jiru daran cimsee itti fufa!

Baankiin Hojii Gamtaa Oromiyaa Vaayrasiin Koroonaa /Covid 19/ biyya keenyatti erga mul’atee kaasee, babal’ina isaa ittisuuf sochii karaa mootummaa, dhaabbilee miti-mootummaa, dhaabbilee amantaa fi hawaasaan gama hundaan taasifamaa jiruuf deeggarsa barbaachisaa ta’e hunda, adda durummaan gumaachuun, shoora olaanaa taphachaa akka jiru ni beekama.

Weerarri Vaayrasii Koroonaa /Covid 19/ addunyaa goolaa jiru kun, hawaasa keessa faca’ee otoo hundee hin jabeeffatin ofirraa qolachuuf, sochii gama Mootummaa Fedaraalawaan taasifamaa jiru maallaqaan cina dhaabbachuuf, Bitootessa 14, 2012 karaa Ministeera Fayyaa, gumaacha maallaqaa Qar. Miiliyoona 5 kan kenne yommuu ta’u, dhukkuba kana ittisuuf tarkaanfiiwwan fudhataman, dhiibbaa sochii hojii dhaabbilee irratti uumaniin,  gaaga’ama diinagdee biyyaa irratti qaqqabuu malu hir’isuuf , maamiltoota/ liqeeffattootaaf dhala liqaa hir’isuun, dhibbentaa 5tti gadi buusuun isaa ni yaadatama.

Haaluma wal fakkaatuun, Baankiin Hojii Gamtaa Oromiyaa, gama Mootummaa Naannoo Oromiyaatiin sochii ittisa Koroonaa/Covid 19/ taasifamaa jiru utubuuf, guyyaa har’aa Eebla 1, 2012 Qar. Miiliyoona 3 yommuu gumaachu; gamosaa magaalaa Kuyyuu  abbaa darbii lamaa kutaa 18 kaaremeetira 301.5 qabuu fi gamoosaa magaalaa Naqamtee  abbaa darbii 7 kutaa 28 kaaremeetira 608   giddu-gala kunuunsaa fi bayyanannaa dhukkubsattoota Koroonaa ta’uun akka tajaajilan, ergisaan kennee jira.Kanamalees,  Baankiin Hojii Gamtaa Oromiyaa  hanga yoonaatti,

Hojjettootasaaf;  

• Hojjettoota hanga sadarkaaa dameetti jiraniif haguuggii fuulaa kuma 26 ol qarshii 3,000,000(miliyoona sadii)n bituun akkasumas, Sanitaayizarii fi Alkoolii liitira kuma Afurii ol qarshii miliyoona tokkoo oliin bituun dhiyeesseefii jira.
• Hojjettoonni darbee darbeen akka hojjetan taasisuun cinaatti tajaajilli geejjibaa akka mijaa’uuf taasiseera.
• Hayyamni boqonnaa garaa garaa akka mijaa’u; fkn, hayaama boqonnaa kaffaltii qabu, fuulduratti boqonnaa waggaa fudhachuu, hayyama yeroo rakkoo kessattuu dubartoota dadhabbii qaban(ulfaa) mijaa’eera.

Qophii Sadarkaa dameewwaniitti

• Seensa Dameewwan baanichaa 416 duratti, harka dhiqannaaf meeshaalee harka dhiqannaa barbaachisu waliin qophaa’eera.
• Maamiltoonni gara baankii dhufan dhibee kanaan akka hin saaxilamneef fageenyasaanii akka eeggatan taasifamaa jira.

Kaffaltii fi dhala tajaajila baankii gama ilaaluun

Kaffaltii tajaajila baankii dijitaalawaa kennaman, kanneen akka Coopay(Mobile Banking)fi kaffaltii tajaajila dheeressa LC kan haqe yoo ta’u, keessumaa weerera kanaan dhaabbilee miidhaman kanneen akka;

• Waldaalee Hojii Gamtaa
• Tajaajila Daldalaa biyya keessaa
• Industirii Hoteelaa
• Oomishtota warshaalee,
• Qonna
• Daldaltoota
• Liqa Konkolaataa
• Ijaarsa, Gamoo fi maashinotaa
• Alaa galu
• Liqa dhuunfaa, hamma dhala maallaqaa %5tti gadi buuseera.

የኦሮሚያ ኅብረት ሥራ ባንክ አ.ማ  የኮሮና ቫይረስ/ኮቪድ 19/ ለመከላከል በሚደረገው ጥረት ያደረገውን አስተዋፅኦ አስመልክቶ  የተሰጠ መግለጫ

የኦሮሚያ ኅብረት ሥራ ባንክ የኮሮና ቫይረስ/ኮቪድ 19/ በሀገራችን ከታየበት ጊዜ አንስቶ ስርጭቱን ለመግታት በመንግስት፣ መንግስታዊ ያልሆነ ድርጅቶች፣ የሀይማኖት ተቋማትና በማህብረሰቡ  በየአቅጣጫው በሚደረገው እንቅስቃሴ አስፈላጊ የሆነውን ድጋፍ ሁሉ በግንባር ቀደምትነት በማበርከት ከፍተኛ ሚና በመጫወት ላይ ይገኛል፡፡

 በአሁኑ ጊዜ ዓለምን በማሸበር ላይ የሚገኘዉ የኮርና ቫይረስ/ኮቪድ 19/ ወረርሽኝ በህብረሰቡ ውስጥ  ተሰራጭቶ ስር ከመስደዱ በፊት ከወዲሁ ለመከላከል በፌደራል መንግስት በኩል በመደረግ ላይ የሚገኘውን እንቅስቃሴ በገንዘብ ለመደጐም በ ቀን መጋቢት 24፣ 2012  ዓ.ም በጤና ሚኒስቴር በኩል የ 5 ሚሊዮን ብር የገንዘብ ድጋፍ ሲያደርግ በሽታውን ከመስፋፋት በመግታት ህብረተሰቡን ለመታደግ የሚወሰዱ እርምጃዎች በተቋማትና ድርጅቶች የሥራ እንቅስቃሴ ላይ ያስከተለውን መስተጓጓል  በሀገር ኢኮኖሚ ላይ  ሊያደርስ የሚችለውን አሉታዊ ተዕፅኖ ይቀንስ ዘንድ  ባንኩ ለተበራሪ ደንበኞቱ የብድር ወለድ ቅነሳ በማድረግ አስከ 5% ዝቅ ማድረጉ ይታወሳል፡፡

በተመሳሳይ የኦሮሚያ ኅብረት ሥራ በኦሮሚያ ብሄራዊ ክልላዊ መንግስት በኩል የኮሮና ቫይረስ /ኮቨድ 19/ ለመከላከል በመደረግ ላይ የሚገኘውን ጥረት ለመደጎም ዛሬ ሚያዚያ 1፣ ቀን  2012 ዓ.ም የብር 3 ሚሊዬን የገንዘብ ድጋፍ ሲያበረክት  ነቀምቴ ከተማ የሚገኘዉን በ 608 m² ላይ ያረፈ፤ 28 ክፍሎች ያሉት ና ባለብዙ ድርሻ G +7 ህንጻ እንዲሁም ኩዩ ከተማ የሚገኘዉን በ301.5 m² ላይ ያረፈ፤ 18 ክፍሎች ያሉት ባለ G+7 ህንጻ ለጊዜያዊንት በዉሰት አበርቷል፡፡ 

በተጨማሪም ለባንኩ ሰራተኞች

• ቅርንጫፍ ላይ ለሚገኙ ሰራተኞቹ በ3 ሚሊዮን ብር 26፣000 የፊት መሸፈኛ ና በ 1 ሚሊዮን በር ደገሞ ሰኒታይዘር ገዝቶ አከፋፍሏል፡፡
• በስራ ገበታቻዉ ላይ በፈረቃ እንዲገኙ ከማድረግ በጨማሪ የትራንስፖረት አገልግሎት አመቻችቷል፡፡
• ሰራተኞች የዓመት ፈቃድ እነዲመቻችላቸዉ ብሎም ያለምንም ደመወዝ ክፍያ ፈቃድ እነዲወጡ ፡ፈቃድ ለጨረሱ ከሚቀጥለዉ ዓመት ፈቃድ ላይ እነዲበደሩ እነዲሁም የተጋላጭነት ፈቃድ( vulnerability leave) ( በተለይ ለነፍሰጡር ሴቶች) ተመቻችቶላቿል፡፡

በቅርንጫፍ ደረጃ የተደረጉ ዝግጅቶች

• በ416 ቅርንጫፎቹ የእጅ መታጠቢያ ስፍራና አስፈላጊ ቁሳቁሶችን አዘጋጅቷል፡፡
• ወደ ባንኩ ለሚመጡ ደንበኞች ርቀታቸውን ጠብቀዉ እነዲስተናገዱ ተደርጓል፡፡

በቅርንጫፍ ደረጃ የተደረጉ ዝግጅቶች

• በ416 ቅርንጫፎቹ የእጅ መታጠቢያ ስፍራና አስፈላጊ ቁሳቁሶችን አዘጋጅቷል፡፡
• ወደ ባንኩ ለሚመጡ ደንበኞች ርቀታቸውን ጠብቀዉ እነዲስተናገዱ ተደርጓል፡፡

በባንኩ የአገልግሎት ክፍያና ወለድን በተመለከተ
በተጨማሪም ባንኩ በ Coopay( mobile banking)እና LC( LETTER OF CREDIT) ላይ የነበረዉን የአገልግሎት ክፍያ ሙሉ በሙሉ የሰረዘ ሲሆን በወረርሽኙ ምክንያት ለተጎዱ የስራ ዘርፎች

• የህብረት ስራ ማህበራት
• የሃገር ዉስጥ ንግደ
• የሆቴል ዘርፍ
• አምራቾች
• ግብርና
• የተሽከርካሪ
• ህንጻና ግንባታ
• የገቢ ንግድ
• የቤትና የግል ብድሮች ላይ እስከ 5% የሚደርስ የወለድ ቅነሳ አድርጓል፡፡

ባንኩ የባንክ አገልግሎት እንዳይቋረጥና የባንክ ተጠቃሚው ህብረተሰብ  ከበሸታው እንዲጠበቅ ለማስቻል ተገቢውን ጥንቃቄ  ከማድረግ ጎን ለጎን ደንበኞቹ  ህዝብ በሚበዛበት አካባቢ መሄድን ግዴታ የማያደርጉ እደ ካርድ ባንኪንግ /ATM/ ያሉ አገልግሎቶችን አንዲጠቀሙ እንዲሁም የህክምና ባለሙያዎች የሚመክሩትን እቤት ቆዩ /Stay Home/ የሚያረጋግጠውን  Coopay በሞባይል አማካኝነት የሚሰጥ የባንክ አገልግሎት አንዲጠቀሙ በማበረታታት የድርሻውን በመወጣት ላይ  ይገኛል፡፡

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Coopay-Ebirr is a Mobile and Internet Banking Service Provided by Coopbank.

Customers Deposit Account, Financing, Investment, Kafala Letter of Guarantee Facility, and Trade services.

Domestic Banking, International Banking, and Electronic Banking.