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 Account opening

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

  • The funds originate from outside the country in foreign currency
  • Open an account from anywhere in the world
  • Deposit FCY to your account via cash, SWIFT transfer, or cheque.
  • Opening an account is easy! Just deposit 100 USD (or equivalent) and you're good to go.
  • This account offers basic banking functionalities without any additional perks or benefits
  • Withdrawal can be done thorough cash, account to account transfer and mobile banking,
  • Deposit and withdraw without limits
  • Transactions tracked in a passbook

DIASPORA MUDAREBAH FIXED-TIME DEPOSIT (Temporary Inactive)

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.

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Requirements For Diaspora Mudarabah Fixed Time Deposit

  • Be an Ethiopian diaspora residing abroad and seeking a secure and Sharia-compliant investment opportunity.
  • Provide a valid proof of identification, such as a passport or any other government-issued ID, verifying your identity.
  • Clearly demonstrate the source of your funds to ensure compliance with regulatory standards and ethical financial practices.
  • Fill out the application form accurately, providing essential details required for account opening and investment purposes.
  • Acknowledge and understand the principles of Mudarabah, emphasizing the profit-sharing arrangement in line with Islamic finance.

Requirements

  • Provide a valid passport or other identification documents.
  • One or two recent photographs
  • Clearly state the source of the funds, which should be from abroad in foreign currency.
  • The customer should be engaged in Shari’ah compliant business
  • Choose the acceptable currencies for the account (e.g., USD, Pound Sterling, Euro)
  • Agree to comply with the bank's policies and requirements for Diaspora Wadia Saving Accounts.
  • Fulfill the minimum deposit requirement as specified by the bank.
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Features Of Diaspora Mudarabah Fixed Time Deposit

  • Choose from various investment durations that suit your financial goals, whether short, medium, or long term.
  • Benefit from a Sharia-compliant arrangement where profits generated by the bank's investments are shared with depositors based on agreed-upon terms.
  • Enjoy a secure and rewarding investment experience with the assurance that your funds are managed responsibly and in accordance with Islamic financial principles.
  • Access your funds conveniently at the end of the agreed-upon investment period, providing flexibility for your financial needs.
  • Fulfill any additional criteria specified by ZamZam Bank in accordance with its policies.

Diaspora Account opening

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

Apply To Open Account

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)

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