Zemen Bank is your choice for any foreign Currency exchange. We accommodate multi-currency exchanges via our:
It is an account opened for eligible non – residents to facilitate the payments (both in local and foreign currency) by the international community and the diplomatic missions, foreign business community, individuals, international organizations and their employees. This account is non-interest-bearing checking account. The major types of non-resident accounts accommodated at Zemen Bank are the following:
The balance in this account is kept in foreign currency. A deposit to such account can be made from a transfer in hard currency, foreign cash notes, and a check drawn on a non- resident account. Holders of this account could draw foreign currency for travel purposes for their expatriate missions, transfers abroad, etc. A payment in Birr from this account is also possible.
This account has same features and use as NR-FCY A/C except that it is denominated in Birr (local currency). It is possible to make payment in foreign currency for travel and other payments on the basis of supporting documents.
This is an account intended to facilitate payments locally in Birr and a foreign exchange permit should be obtained to make transfers in favor of beneficiaries residing abroad.
Zemen Bank handles profit repatriation for foreign companies through a scheduled and planned manner via unbeatable service delivery.
Our Bank has a rich experience in carrying out scheduled dividend repatriation procedures for large foreign companies since our establishment. As per the regulation of the National Bank of Ethiopia, Non-Resident foreign nationals who earn profits or dividends from recognized foreign investments shall be entitled to have a reasonable share of their profit or a reasonable return on their capital, as deemed necessary and applicable, remitted abroad on condition that the following documents are submitted and endorsed at the NBE.
