The first full-fledged interest-free bank in Ethiopia

Diaspora Saving Accounts

Elevate your banking experience with ZamZam Bank’s Diaspora Banking Account. Specifically designed for those residing and working outside the country, this account offers convenient features for managing and executing domestic and international transfers effortlessly. Stay connected with your finances no matter where you are.

Type of Diaspora Saving Account

DIASPORA WADIA SAVING ACCOUNT

The Diaspora Wadia Saving Account at ZamZam Bank provides a secure and trustworthy avenue for Ethiopian diaspora members living abroad to deposit their foreign currency. This unique account operates on a trust-based model, ensuring the safety and convenience of funds without involving interest or profit-sharing. Account holders have the flexibility to withdraw their money at any time, making it a convenient and reliable financial solution for the diaspora community.

Features of Diaspora Wadia Saving Account

Features of Diaspora Mudarabah Saving

Diaspora Mudarabah Fixed Time Deposit Account

ZamZam Bank offers the Diaspora Mudarabah Fixed Time Deposit Account, a unique and rewarding way for Ethiopian diaspora members to invest their funds. This interest-free account allows depositors to place their funds for profit-sharing within a specified period, catering to individuals seeking short, medium, and long-term investment opportunities. As a depositor, you become a partner in a Mudarabah contract, sharing in the profits generated by the bank through ethical and Sharia-compliant investment activities. This account provides a secure and beneficial avenue for diaspora investors to grow their wealth while adhering to Islamic financial principles.

Requirements For Diaspora Mudarabah Fixed Time Deposit

Requirements

Diaspora Mudarabah Saving Account

The Diaspora Mudarabah Saving Account at ZamZam Bank is an innovative interest-free banking solution tailored for Ethiopian diaspora members. By depositing foreign currency, customers enter into a Sharia-compliant mudarabah contract, where the bank serves as the manager (mudarib), and the customer acts as the investor (rabbul mal). This unique arrangement allows customers to share in the profit generated from the bank’s investments using their deposits. The profit-sharing ratio is transparently determined by the bank and communicated to customers upon opening the account, ensuring a fair and Sharia-compliant financial relationship

Requirements For Mudarabah Saving

Features Of Diaspora Mudarabah Fixed Time Deposit

Diaspora Account opening

Documents required to open Diaspora Account / የዲያሲፖራ ሂሳብ ለመክፈት መሟላት ያለባቸው ሰነዶች

Application

Application forms filled and signed by the applicant Diaspora Account Opening Form

ተሞልቶ የተፈረመ የዲያስፖራ ሂሳብ መክፈቻ ቅፅ

For Non-Resident Ethiopians

For Non-Resident Ethiopians, passport & authenticated work permit
በውጭ ለሚኖሩ ኢትዮጵያውያን፡ ከ1 ዓመት በላይ ውጭ ሀገር መኖራቸውን የሚያረጋግጥ የመኖሪያ ፈቃድ/ ሰርተፊኬት (በሚመለከተው አካል የተረጋገጠ)

For Foreigners

For Foreigners of Ethiopian origin, passport & Yellow card

ትውልደ ኢትዮጵያውያን ለሆኑ የውጭ ዜጎች፡ የውጭ ፓስፖርት/ መታወቂያ እና ቢጫ ካርድ

Who Cannot Be Present in Person

For those applicants who cannot be present in person, letter from a nearby Ethiopian Embassy needs to be obtained. Please send this together with the above mentioned documents to our below mentioned postal address:

በአካል ተገኝተው ሂሳብ መክፈት የማይችሉ አመልካቾች በአቅራቢያቸው ወደሚገኝ የኢትዮጵያ ኤምባሲ በመቅረብ ማንነታቸውን የሚገልፅ ደብዳቤ ማፃፍ ይኖርባቸዋል፡፡ በመጨረሻም ከላይ ከተጠቀሱት ሰነዶች ጋር በማያያዝ ከዚህ በታች በተጠቀሰው አድራሻችን በፖስታ መላክ ይኖርባቸዋል፡-

Initial Deposit

Initial Deposit of USD 100 is required and could be transferred through SWIFT:

ሂሳቡ ሲከፈት የመጀመሪያ ተቀማጭ 100 የአሜሪካን ዶላር ገቢ ለማድረግ ከዚህ በታች ያሉትን አማራጮች መጠቀም ይችላሉ፡-

ZamZam_SWIFT Transfer Form (USD)

ZamZam_SWIFT Transfer Form (EUR)

ZamZam_SWIFT Transfer Form (GBP)

Contact information

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