IFB Foreign Currency Deposit products

Customers who fulfill the eligibility criteria can open foreign currency accounts in line with the requirements of the NBE in USD Dollar, Pound Sterling, and Euro currencies. The following are some of the basic features for the accounts;

  • The source of fund is from abroad and in foreign currencies;
  • The account is maintained in foreign currency or Birr;
  • Customers living abroad can open these accounts;
  • A foreign currency shall be credited to the account through FCY cash deposit, SWIFT transfer, telex, or foreign cheque deposits.

The following are some of the IFB deposit accounts and their features opened and maintained in foreign currencies in the names of Ethiopians and foreign nationals of Ethiopian origin (Diaspora Accounts):

  • Diaspora Wadia (Safe Keeping) Saving Account
  • Diaspora Wadia Current (FCY Checking/Demand) Account
  • Diaspora Mudarabah FCY Saving Account
  • Diaspora Mudarabah FCY Fixed Term Deposit
  • Non-resident transferable foreign currency accounts (NRT FCY)
  • Non-resident transferable birr accounts (NRT)
  • Non-resident Non-transferable birr accounts (NRNT)

Please contact Coopbank Islamic to get more detailed information and advice