Zamzam Diaspora Financing

It is a Murabahah Financing granted to non-resident Ethiopian or non-resident foreign nationals of Ethiopian Origin that have been living abroad for more than a year.

Murabaha Diaspora Mortgage Financing

Mortgage financing will be given to:

  • Purchase residential house from real estate, individual sellers or associations
  • Construct residential house on their own plot of land
  • Purchase or construct commercial buildings
  • Finish construction of residential house or commercial building.

Diaspora Automobile Financing

It will be given for the purpose of purchasing automobile in their home country.

Criteria for Diaspora Financing

  1. The applicant should open Wadiah Diaspora Saving Account.
  2. The age of the applicant should be 18 years and above.
  3. During application the applicant should submit:
    1. Renewed passport, resident and/or work permit for non-resident Ethiopians
    2. Two recent passport size photograph
  • Renewed passport and yellow card for foreigners of Ethiopian origin
  1. Marriage certificate;
  2. Power of attorney, copy of ID, one recent passport size photograph of the agent;
  3. Employment letter showing annual gross or net income from their employers or individual tax return
  • Incase of some jobs that don’t substantiate income document due to their nature the bank will entertain their request under a special option
  • Copy of employment contract, if applicable
  1. Bank account statement for at least one year from foreign banks
  2. If the applicant is a business person she/he should present
    1. Financial statements for at least three consecutive years (audited if the request is beyond five million Birr)
    2. Renewed trade license and trade registration certificate, as applicable
    3. Tax payment certificate.
  3. The source of repayment shall be disclosed and the applicant shall give consent not to interrupt the regular repayment
  4. if it could be justified by acceptable documents the Bank may also consider other sources of income, as the case may be, to enhance the applicant’s capacity
  5. The repayment will be in foreign or local currency via transfer to the respective Wadiah Diaspora Saving Account opened in the name of the applicant.
  6. The maximum repayment period for Diaspora Mortgage and Diaspora Automobile financings shall be 10 years.