Investment Deposit Accounts
Diaspora Investment Financing
Diaspora Investment Financing
Coopbank offers an investment credit facility to enhance the potential of Diasporas to develop larger, more productive businesses investing in meaningful programs in their home country that can create jobs and economic growth back home.
Features
- Term loans for financing projects such as manufacturing or purchase of capital assets,
- The bank can finance up to 80% of the feasible project promoted by the diaspora,
- 20% of the project shall be financed by the promoter from his/her own equity,
- The equity contribution made to the project shall be transferred via Coopbank.
Benefits
- It helps to expand an existing business,
- It helps to engage in new investment in different sectors such as services, manufacturing, hotel, construction, real estate, etc.
- The amount of the loan is determined by the projected cash flow and income of the borrower as well as the cost of the project,
- It has an attractive rate with a reasonable repayment plan,
- Fast processing and approval time.
Requirement
Documents required to borrow for projects include documents such as:
- Investment Loan application forms that are properly filled and signed by the applicant,
- A valid passport and/or identification card,
- Investment license,
- TIN,
- Landholding certificate/lease agreement,
- An approved construction plan,
- Memorandum and Article of Association (if any), and
- Project proposal.
Eligibility
- 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 who can produce authenticated documents.
Mudharabah Restricted Investment Account
is a fund that will be specifically utilized to a particular project of the account holder choice. In return, the account holder will be entitled to an agreed percentage share of the investments income or proportionally bears the loss of capital.
Features
- Restricted Investment Deposit account is an account where the investor restricts the manner as where, how and for what purpose the funds are to be invested by Coopbank Islamic.
- The minimum deposit amount accepted in the restricted investment account shall be Birr Five Million.
- The profit-sharing rate on restricted investment deposit shall be determined by the Bank’s terms and tariff structure and the loss sharing is to the extent of the capital contribution.
- All the agreed terms and conditions of the investment deposit shall be clearly articulated in the investment deposit contract to avoid any possible disputes that may arise from the capital providers.
- The Bank may provide the Investment Deposit Certificate to the Rab-ul-maal/ capital provider.
- Investment Deposit Accounts are bounded by period, if the capital providers withdraw the money from investment deposit account before the agreed period, he/ she may forfeit the accrued profit margin as per the details of the investment deposit contracts.
Benefits
- The Depositor's will share investment Income (profit) from an investment conducted by the CoopBank Islamic.
- This investment is conducted in accordance with Shariah principles.
- Depositors can dictate as to as where, how and for what purpose their funds are to be invested.
- They can advise the bank to invest on areas of their interest.
- Please contact Coopbank Islamic to get more detail information and advices.
Ijaraha Financing
Ijaraha Financing: -
is a form of financing applicable to financing and operating leases of properties.
Features
- In Ijaraha Financing the bank pays to manufacturer/builder the price of products and the manufacturer delivers the goods to the bank.
- In Financing Lease contract of Ijarah, the bank sells the products at the end of the contract, While
- In the Operating lease contract of Ijarah, the goods leased for customers and returned back to the bank to be released or disposed of.
- Please contact Coop bank Islamic to get more detailed information and advice.
Mudharabah Unrestricted Investment Account
Mudharabah Unrestricted Investment Account: -
is a fund that will be placed in the Bank general pool of Shariah compliant banking activities. In return, the account holder will be entitled to an agreed percentage share of investment income or proportionally bears the loss of capital.
Features
- Unrestricted Investment Deposit Account is an account where the investor fully authorizes the bank to invest the funds without restrictions as to where, how and what purpose the fund should be invested as long as the usage of the funds is Shari'ah compliant.
- The minimum deposit amount acceptable in the Unrestricted investment account shall be Br 100,000.
- The profit/loss sharing rate on unrestricted investment deposit shall be determined by the Bank’s terms and tariff structure.
- The Bank provides the Unrestricted Investment Deposit Certificate to the Rab ul- maal/capital provider.
Benefits
- The Depositor's will share a profit from an investment conducted by the CoopBank Islamic.
- This investment is conducted in accordance with Shariah principles.
- Please contact Coopbank Islamic to get more detail information and advice.
Mudharabah
Mudharabah—Investment Deposit Accounts
Mudharabah Investment Deposit Accounts are Coopbank Islamic investment deposit services availed to its customers who will be interested and willing to share profit or loss arising from financing and investing activities of the Coopbank Islamic Process. There are two types of investment deposit account namely Restricted Investment Deposit (Mudharabah Mutlaqah), and Unrestricted Investment Deposit (Mudharabah muqayaddah).