ZamZam Bank is the first full pledged Islamic bank established in Ethiopia. It obtained a license on September 28, 2020 from the National bank to provide Interest free banking activities to customers in the country.
Retention A/C: an account opened by eligible exporters of goods and services and recipients of inward remittances in accordance with the provisions of NBE directive
None- resident diaspora FCY A/C: an account opened by non-resident Ethiopian or foreign National Ethiopian origin denominated in foreign currency
Non-resident FCY A/C: an account opened for international organizations, foreign nationals, non-Governmental organization (NGO), and staff members of foreign embassies. The non-resident accounts are denominated in foreign currency (FCY) and local currency (LCY) currency whose source of deposit is in FCY
Non-resident Transferrable A/C: an account maintained in local currency and funds can be transferred abroad without the necessity of obtaining a foreign exchange permit.
Non-resident non-transferable A/C: an account maintained in local currency and funds cannot be transfer abroad.