Siket Bank offers the following foreign currency account options for its customers:
1. FCY Accounts for Foreign Entities
Eligible entities include FDI companies, international organizations, embassies, and foreign NGOs.
Funds in these accounts can be freely transferred without needing NBE approval.
2. FCY Accounts for Resident and Non-Resident Ethiopians
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Foreign Currency Account Products
Siket Bank offers the following foreign currency account options for its customers:
1. FCY Accounts for Foreign Entities
Eligible entities include FDI companies, international organizations, embassies, and foreign NGOs.
Funds in these accounts can be freely transferred without needing NBE approval.
2. FCY Accounts for Resident and Non-Resident Ethiopians
Eligible individuals include resident Ethiopians, non-resident Ethiopians, and foreign nationals of Ethiopian origin.
These accounts can be opened in major currencies like USD, EUR, GBP, and others accepted by the NBE.
Funds can be used for foreign payments, conversions to birr, and cash withdrawals.
3. Retention Accounts for Exporters
Exporters of goods and services are eligible to open these accounts to retain a portion of their export earnings.
The utilization of funds in these accounts is as per the directives of the NBE.
Siket Bank follows the account opening requirements and operating guidelines set by the National Bank of Ethiopia for these foreign currency account types.
