Wadiah Current Account

Wadi’ah current account is similar to the conventional current account, and it is a non-profit bearing account which is opened and operated by literate customers, however; in rare cases, illiterate customers shall use this account by using their stamp printed by his/her name or signature in addition to the standard signature. The operation of the account can be performed through the use of cheques provided by the Bank to Wadi’ah account holders. The bank can invest all outstanding amounts in its absolute discretion, deems fit, and no returns of whatsoever nature is paid out to customers on this account. A minimum amount of Birr 500.00 is required to open an account for individual customers, and Birr 1000.00 is required for corporate and business customers.