cbe

USD
44.4074
45.2955
,
GBP
58.9316
60.1102
,
EUR
52.7604
53.8156
,
CHF
46.8194
47.7558
,
SEK
4.6847
4.7784
,
NOK
4.5733
4.6648
,
DKK
6.4197
6.5481
,
DJF
0.2467
0.2516
,
JPY
0.367
0.3743
,
CAD
32.2542
32.8993
,
SAR
10.7158
10.9301
,
AED
10.9405
10.9405
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
29.615
30.2073
,
SDR
,
ZAR
,
CNY
6.2188
6.3432
,
KWD
141.1204
143.9428

awash

USD
44.4074
45.2955
,
EUR
52.7604
53.8156
,
GBP
61.7085
62.9427
,
CAD
35.64
36.3528
,
AED
12.0889
12.3307

abyssinia

USD
44.4074
45.2955
,
GBP
58.9316
60.1102
,
EUR
52.7604
53.8156
,
AED
10.9405
11.1593
,
NOK
4.5733
4.6648
,
SAR
10.7158
10.9301
,
SEK
4.6847
4.7784
,
CAD
32.2542
32.8993

abay

zemen

buna

USD
44.4074
45.2955
,
GBP
58.9316
60.1102
,
CHF
46.8194
47.7558
,
SEK
4.6847
4.7784
,
NOK
4.5733
4.6648
,
DKK
6.4197
6.5481
,
JPY
0.367
0.3743
,
CAD
32.2542
32.8993
,
SAR
10.7158
10.9301
,
AED
10.9405
11.1593
,
EUR
52.7604
53.8156
,
CNY
6.2188
6.3432
,
AUD
29.615
30.2073
,
KWD
141.1204
143.9428

nib

GBP
58.9316
60.1102
,
EUR
52.7604
53.8156
,
CHF
46.8194
47.7558
,
CAD
32.2542
32.8993
,
SEK
4.6847
4.7784
,
AED
10.9405
11.159311
,
SAR
10.7158
10.9301
,
ZAR
3.0631
3.1243
,
JPY
0.367
0.3743
,
KES
0.4056
0.4138
,
DJF
0.2467
0.2516
,
INR
0.5932
0.6051
,
CNY
6.2188
6.3432
,
DKK
6.4197
6.5481
,
NOK
4.5733
4.6648
,
AUD
29.615
30.2073
,
USD
44.4074
45.2955

berhan

USD
42.6401
43.4929
,
EUR
52.0678
53.1092
,
GBP
57.7916
58.9474

wegagen

USD
44.4074
45.2955
,
GBP
58.9316
60.1102
,
EURO
52.7604
53.8156
,
CAD
32.2602
32.9054
,
AUD
29.615
30.2073
,
CHF
46.7563
47.6914
,
SEK
4.685
4.7787
,
NOK
4.5734
4.6649
,
DKK
6.418
6.5464
,
DJF
0.2467
0.2516
,
INR
0.5964
0.6083
,
KSH
0.4081
0.4163
,
JPY
0.3661
0.3734
,
SAR
10.7046
10.9187
,
AED
10.9291
11.1477
,
ZAR
3.0477
3.1087
,
CNY
6.2125
6.3368
,
KWD
140.8454
143.6623

dgb

USD
44.3046
45.1907
,
GBP
61.8271
63.0636
,
EUR
52.6029
53.655
,
CHF
48.7614
49.7366
,
CAD
35.5575
36.2687
,
AUD
32.7367
33.3914
,
SEK
5.1737
5.2772
,
NOK
5.0619
5.1631
,
DKK
7.0729
7.2144
,
DJF
0.2461
0.251
,
INR
0.5967
0.6086
,
KSH
0.4076
0.4158
,
JPY
0.4036
0.4117
,
SAR
11.8127
12.049
,
AED
12.0606
12.3018
,
ZAR
3.0342
3.0949
,
CNY
6.8572
6.9943
,
KWD
147.2508
150.1958

enat

USD
44.4074
45.2955
,
EUR
52.7604
53.8156
,
GBP
61.7085
62.9427
,
CHF
49.0256
50.0061
,
SEK
5.1765
5.28
,
NOK
5.0534
5.1545
,
DKK
7.0936
7.2355
,
KES
0.4083
0.4165
,
JPY
0.4055
0.4136
,
DJF
0.2467
0.2516
,
CAD
35.64
36.3528
,
AUD
32.7238
33.3783
,
SAR
11.8407
12.0775
,
AED
12.0889
12.3307
,
ZAR
3.0831
3.1448
,
CNY
6.8716
7.009

addis

EUR
52.6029
53.655
,
GBP
59.0449
60.2258
,
USD
44.3046
45.1907

nbe

KWD
126.8085
129.34467
,
CNH
5.6258
5.738316
,
ZAR
2.6751
2.728602
,
AED
9.9063
10.104426
,
SDR
57.7908
58.946616
,
EUR
48.4016
49.369632
,
CAD
28.7765
29.35203
,
AUD
28.3265
28.89303
,
JPY
0.3389
0.345678
,
SAR
9.7001
9.894102
,
INR
0.5525
0.56355
,
DJF
0.2234
0.227868
,
KES
0.3664
0.373728
,
DKK
5.8896
6.007392
,
NOK
4.2714
4.356828
,
SEK
4.3114
4.397628
,
CHF
41.5822
42.413844
,
GBP
53.539
54.60978

dashen

USD
44.4074
45.2955
,
GBP
58.9316
60.1102
,
CHF
46.8194
47.7558
,
SEK
4.6847
4.7784
,
NOK
4.5733
4.6648
,
DKK
6.4197
6.5481
,
JPY
0.367
0.3743
,
CAD
32.2542
32.8993
,
SAR
10.7158
10.9301
,
AED
10.9405
11.1593
,
EUR
52.7604
53.8156
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

oromia

USD
44.4074
45.2955
,
EUR
52.7604
53.8156
,
GBP
61.7085
63.9427
,
SAR
11.8407
12.0775
,
CHF
49.0256
50.0061
,
AED
12.0889
12.3307

lion

USD
44.3622
45.2494
,
GBP
59.1471
60.33
,
EUR
52.7422
53.797

coop

Commercial Bank of Ethiopia (CBE) Review

Commercial Bank of Ethiopia (CBE)

8.7

Commercial Bank of Ethiopia (CBE)

Widely used Internet banking

Most bank with several branches and ATMs

Prize Linked Saving

CBE Birr

For business

Pros and Cons

Several Types of Banking
Options for Loan Opportunities
  • Longer Waiting Time and Queue
  • Slow and unprofessional website
  • Low saving Interest Rate

    Commercial Bank of Ethiopia (CBE) Information

    Contact Information

    Diaspora Benefits

    • Diaspora Deposit accounts
    • Automobile Loan
    • Mortgage Loan
    • Working Capital Loan
    • Consumer Loan

    Internet Banking

    • Can Check Balance
    • Can Transfer Money
    • View Account Statement
    • Can Control Progress
    • Can Pay Bills Online

    Mobile Banking

    • Mobile Application
    • Balance Inquery
    • USSD Application
    • Mobile Top Up
    • Money Transfer

    Loan Interest

    • Personal Automonile Loan 11.5
    • Diaspora Mortgage Loan 7.5
    • Corporate Loan 11.5
    • Investment Loan 11.5
    • Working Capital Loan 11.5

    Saving Interest

    • Personal Saving 7%
    • Women Saving 7.25%
    • Youth Saving 7.25%
    • Teen Saving 7.25%
    • Education Saving 7.25%

    Exchange Rate Commercial Bank of Ethiopia

    code name buying buyingTrend selling sellingTrend transactionBuying transactionSelling
    USD United States Dollar 44.4074 45.2955 44.4074 45.2955
    GBP British Pound Sterling 58.9316 60.1102 61.7085 62.9427
    EUR Euro 52.7604 53.8156 52.7604 53.8156
    CHF Swiss Franc 46.8194 47.7558 49.0256 50.0061
    SEK Swedish Krona 4.6847 4.7784 5.1765 5.28
    NOK Norwegian Krone 4.5733 4.6648 5.0534 5.1545
    DKK Danish Krone 6.4197 6.5481 7.0936 7.2355
    DJF Djiboutian Franc 0.2467 0.2516 0.2467 0.2516
    JPY Japanese Yen 0.367 0.3743 0.4055 0.4136
    CAD Canadian Dollar 32.2542 32.8993 35.64 36.3528
    SAR Saudi Riyal 10.7158 10.9301
    AED United Arab Emirates Dirham 10.9405 10.9405
    XAF CFA Franc BEAC 0.012 0.0122 0.012 0.0122
    INR Indian Rupee 0.5971 0.609
    KES Kenyan Shilling 0.4083 0.4165
    AUD Australian Dollar 29.615 30.2073 32.7238 33.3783
    SDR SDR 63.4493 64.7183
    ZAR South African Rand 3.0831 3.1448
    CNY Chinese Yuan 6.2188 6.3432 6.8716 7.009
    KWD Kuwaiti Dinar 141.1204 143.9428 147.7701 150.7255

    CBE

    About Commercial Bank of Ethiopia

    One of the predominant banks operating in Ethiopia is the Commerical Bank of Ethiopia, AKA CBE. Way before its establishment, the bank was under the State Bank of Ethiopia, which was founded in 1942. That led the way for CBE to be founded separately in 1963, before its unification with the, back then, Addis Ababa Bank in 1974.

    The Commercial Bank of Ethiopia has more than 22 million account holders who can be entertained by a number of services. With money digitization in mind, the bank has now more than two and a half million internet banking users as of last year.

    CBE is the first bank to introduce modern banking to Ethiopia. It was once the leading African banks with assets of 485.7 billion Birr as of June 30th, 2017. It now has over 1500 branches across the country and plays a significant role in the economic progress and development of the country.

    CBE is also the first bank to introduce Western Union Money Transfer Services in the country and currently working with more than twenty money transfer agents like Atlantic International, Xpress Money, and Money Gram. CBE has reliable and enduring relationships with internationally recognized banks across the world.

    The Commercial Bank of Ethiopia has a well-built correspondent relationship with renowned foreign banks like Commerz Bank A.G., Royal Bank of Canada, City Bank, HSBC Bank, it also has a SWIFT bilateral arrangement with more than 700 others banks throughout the world.

    What is the Role of the Commercial Bank of Ethiopia?

    The commercial bank role in Ethiopia is to act as a government representative bank directed to the larger company working with import, and export businesses.

    Services Provided by the Commercial Bank of Ethiopia

    Commercial Bank of Ethiopia has a range of options. You can go with Ordinary saving, Youth, Teen, Education saving account, and a specific saving account for Women. Choose the type of account that suits you the best.

    Saving Account Commercial Bank of Ethiopia

    Personal Account

    Definition: With a minimum of %7, you can open an interest-bearing account as long as you are satisfying certain legalities and requirements by the bank, either as an individual, association, organization, or company.

    Required Document
    • If you are an individual, you must bring any credentials that verify you, like passport, ID, school ID, etc.
    • If you are a Private Limited Company, you must possess any documents that ensure that you are a PLC, like a work permit paper, legal business opening file, etc

    Demand Account

    Definition: This is a non-interest-bearing account and only literate customers can open such an account. The demand account can be either a checking or current account. In addition to literate customers, legal agents named by the principal can also open and/or operate demand accounts. The process to verify such a legal agent has to go through the bank’s legal department, area offices, or branch managers. Situations determine who verifies that. If all the legal documents are successfully processed, a minimum of 500 birr for a current account, and 1000 birr for others.

    Demand Account Types provided by the Commercial Bank of Ethiopia

    Some terminologies might be difficult to understand. However, it can be easily understandable depending on your need. You can have an ordinary demand deposit, special-demand deposit, or ECX related accounts. These are the three types of demand accounts provided by the Commercial Bank of Ethiopia.

    Required Documents
    • Same as the personal account, if you are an individual, you must bring any credentials that verify you, like passport, ID, school ID, etc.
    • Additionally, if you are a Private Limited Company, you must possess any documents that ensure that you are a PLC, like a work permit paper, legal business opening file, etc.

    Commerical Bank of Ethiopia Diaspora Account

    Definition: Individuals, companies, and residing foreign citizens as well as Ethiopians who have lived more than a year abroad and Ethiopians by origin but have different nationalities, are eligible to have a non-resident account, known as a Diaspora account. Such an account is a non-interest bearing account and can be used for payments within Ethiopia (local payments) as two types have an interest, namely Fixed Time Deposit and Non-Repatriable Diaspora account. The source of the deposits is in foreign currencies, which the bank will use the current date for the exchange price. See other the list of best banks for diaspora

    Non-Resident Account Types provided by the Commercial Bank of Ethiopia

    There are 5 types of Diaspora account that the Commercial Bank of Ethiopia provides for its customers:

    • Diaspora accounts
    • Non-Resident Transferable for Birr Account, AKA (NR-T Birr)
    • Non-Resident Non-Transferable for Birr Account, AKA (NR-NT Birr)
    • Non-Resident Transferable foreign currency, AKA (NR-T)
    • Foreign Exchange Retention accounts
    Required Documents
    • The following must verify their ownership to legally have a Diaspora account in Ethiopia:
    • Foreign Nationals of Ethiopian Origin
    • Exporters
    • Diplomats
    • Non-Resident Ethiopians
    • Embassies
    • International Organizations
    • Foreign Investors
    • International Charities
    • Emigrant(refugee) Employees of International Organizations

    Investment Loan

    For investment loan, Commercial Bank of Ethiopia offers a wide range of options:

    • Motor Vehicle, Construction Machinery, Agricultural Term, Partial Financing, Syndicate, Term, and Idea Financing loans.
    • Any group or individual who has/have a recognized, scientific invention/study by the government of Ethiopia that deals with seeding innovative ideas, (namely MINT).
    • Once Intellectual Property Right Protection is obtained from the designated office, the loan is then granted for those innovators to mass-produce their ideas

    The Commercial Bank of Ethiopia might extend the loan to Idea Financing loans to up to a maximum period of 10 years, with a one year grace period Continuing with the options that CBE offers as loan investment, which includes:

    • Loan against Corporate Bond
    • Housing Development Loan
    • Equipment and/or Machinery Leasing Financing

    Micro Finance Loan

    Definition: Basically, they are organizations that have some sort of engagement in supplying financial services such as savings and credit to the low-income (poor) division of the community.

    • CBE does loans to micro-finance institutions in only term loans that are subjected to repayment from within a short to medium term.
    • CBE will extend credit ability to such institutions when they raise their financial limitations for giving credit to other micro-entrepreneurs.
    • The Bank may negotiate on the interest rate on credit to the Micro Finance Institutions.
    • Discussions can happen on the interest rate for the credit given to micro-finance institutions.

    Eligibility

    • To be eligible for micro-finance loans by CBE, an institution should have an excellent loan portfolio in terms of savings, loan approvals, best recovery practices, and similar measures and indices.
    • Micro-Finance Institutions should also ascertain that they are legally registered with the National Bank of Ethiopia and abide by and meet all relevant policies and directives of the National Bank of Ethiopia regarding:
    • As a notice, such institutions must know that they are legally registered with the NBE (AKA: National Bank of Ethiopia) and that they are following the policies and commands of the NBE for: Reserve, Liquidity, Capital adequacy, and Minimum paid-up capital requirements, and any other requirements set by the National Bank of Ethiopia.

    As a security measure, micro-finance institutions shall propose a minimum of %75 of the principal loan,  if they are able to obtain a credit-guarantee plan from the designated part.

    Working Capital Loan

    Definition: is a loan that is taken to finance a company’s everyday operations. These loans are not used to buy long-term assets or investments and are, instead, used to provide the working capital that covers a company’s short-term operational needs. Working Capital loan within the Commercial Bank of Ethiopia policies includes:

    • Import Letter of Credit Facility
    • Pre-Shipment Export Credit Facility
    • Advance on Export Bills Facility
    • Overdraft and overdraw Facility
    • Merchandise Loan Facility
    • Overdraw
    • Import Letter of Credit Settlement Loan
    • Revolving Export Credit Facility
    • Letter of Guarantee Facility

    Trade Service

    Definition: One of the fundamental services of CBE is trade services, as the bank has connections with mostly all international banking services. Trade services can now be found on all the branches of CBE with hired customer service officers.

    Services: CBE offers trade services in the form of:

    Documentary Credit (L/C)

    This is a written letter vow by CBE that is given to the seller if the buyer asked for a payment to be made, or receive and pay bills as an exchange (AKA draft). The seller draws the number up to a declared sum of money within an expressed time duration and against specific documents. It includes:

    • Import:- it is available by observation of payment/negotiation, payment/deferred payment*/acceptance payment*. There are forms to be filled, namely LS Application or LS Amendment.
    • Export:- payment available by observation of negotiation/acceptance of bills. *If approved by the National Bank of Ethiopia

    Documentary Collection:

    This is a way that CBE handles a seller’s commercial documents, either in the presence of financial documents or not. This procedure must go in alignment with instructions given by the seller, so the documents can be delivered to the buyer (namely as the Importer). This also has to go head to head with payments and/or acceptance or other term and condition sets, which has:

    • Import:– this is available by sight payment. There are two types of forms: – Documentary Credit Application and  – Documentary Credit Amendment forms
    • Export:- this is also available by sight payment/acceptance payment

    Advance Payment:

    This is a way in which a seller gets payment from a buyer before shipment of the agreed on goods, or rendering service takes place. The advance payment contains:

    • Import- Payment through bank transfers
    • Export- Payment through bank transfers, traveler cheques, cash (as long as it is declared).

    Consignment Basis Payment:

    This is a way of payment that the title of the goods remains with the seller until a distributor in a foreign country sells them. The payment is afterward made when the agent sells the goods.

    • Export- it is applicable to the likely to decay items, for example, fruits, flowers, meat, syrup, etc as approved by the National Bank of Ethiopia

    Guarantee

    The Commercial Bank of Ethiopia issues a written promise to pay a sum of money to the beneficiary, either local or foreign, in which the obligor (one who is bound by an obligation to another) fails to satisfy obligations in alignment with the terms, conditions, and policies agreed upon on the guarantee or agreement or contract.

    Types of Guarantee

    • Advance Payment
    • Bid and Performance Bonds
    • Custom and retention duty.

    Eligibility criteria/conditions:

    Customers that request the above products of Trade Service, except guarantee should fulfill the following criteria:

    • Should maintain a current account with the bank
    • Should be in the possession of valid trade license for import /export as appropriate or business license or investment or industry license or must exist in the list of budgetary government organizations issued by the National Bank of Ethiopia. In the case of the non-government organizations, a certificate issued by the Ministry of Justice, Regional Governments, and offices authorized by proclamation.
    • Should have Tax Identification Number(TIN)
    • Should not be reported as a delinquent by the NBE

    Benefits

    Allows companies the ability to reassure end parties the ability to contractually pay and finance larger projects. They offer financial credibility and creditworthiness which is backed by the bank Contracts and terms can be negotiated as guarantees can be paid or issued in different currencies.

    Foreign Remittance

    Definition: Inward and outward funds transfers are received in CBE via S.W.I.F.T (The society for worldwide interbank Financial Telecommunication) which is one of the largest financial messaging systems in the world.

    Features

    A secure network for transmitting messages between financial institutions by sending payment orders which must be settled by correspondent accounts that the financial institutions have with each other. These correspondent accounts are held in the network of correspondent Banks (Link here to the table of correspondent banks)

    CBE’s Swift Code:    CBETETAA

    Benefits

    • Reliability
    •  Security
    • Access to a worldwide network of correspondent banks.
    •  Speed of transmission.

    Procedure Foreign remittance

    What the sender has to do when sending money to Ethiopia

    • Give the full name and address of the beneficiary (including grandfather name)
    • State the nearest branch to the beneficiary (for inward collection of funds)
    • State the account number of the beneficiary (for inward transfer to account)
    • State the S.W.I.F.T code of Commercial Bank of Ethiopia (CBETETAA)

    What the Beneficiary/ Receiver does

    • If they have an account with CBE, the transfer will be transferred to their account.
    • If they won’t collect the transfer from the branch, they must state the full name (including their grandfather’s name) and address and full name and address of the Sender.
    • Present an up-to-date identification card, driving license, or passport.

    For foreign remittance in CBE, there are over 700 correspondent banks and 50 Nostro accounts

    Interest-Free Banking Commercial Bank of Ethiopia

    IFB Background

    The term “Interest-Free banking” refers to a system of banking that is consistent with Islamic law (Shariah) principles and guided by Islamic economics. In particular, Islamic law prohibits usury, the collection and payment of interest, also commonly called riba in Islamic discourse. In addition, Islamic law prohibits investing in businesses that are considered unlawful, or haraam (such as businesses that sell alcohol or pork, or businesses that produce media such as gossip columns or pornography, which are contrary to Islamic values).

    IFB also engaged in Islamic Insurance (takafu), Islamic Investment house, Mutual funds, Leasing companies, and commodity trading companies at the multilateral level.

    As the Commercial Bank of Ethiopia (CBE) is licensed by the National Bank of Ethiopia to give these services, it would provide the services at specified windows of selected branches of the bank. Interest-free banking is available to all customers who want to make use of alternative banking services. CBE has a separate and dedicated system that does not mix the movement of accounts in those windows with the regular ones.

    Type of Services

    Saving and Current Account Deposits: – Under this category of services are found four kinds of accounts. Those are

    1. Wadiah Amanah (saving with guarantee)

    This type of account is opened for an unspecified length of time by customers who own the funds in the Bank for safekeeping.  Depositors give their consent to the Bank to deal with the whole or any part of their monies in the manner that it deems fit, so long as it is not against sharia. The Bank will guarantee repayment of the whole sum or any outstanding part in the depositor account without any interest when demanded.

    2. Amanah (current account)

    This is an interest-free current account opened for an unspecified length of time and managed through checks until the depositor demands payment and is paid promptly/right away.

    3. Mudharabah (profit sharing saving account)

    This is a type of investment partnership where a customer deposits money for an unspecified length of time and the Bank shares both the profit and loss with her/him. The customer may withdraw his/her deposit at any time, but the Bank may impose some restrictions on the amount to be taken out as this arrangement is both a profit and loss sharing partnership.

    4. Mudharabah (fixed-time deposit)

    Mudharabah is a profit-sharing fixed time deposit. To benefit from this service the depositor (customer) should not withdraw the deposited amount before the agreed date in the contract. If the customer, however, demands the money deposited before the stated date, the Bank may not share the profit.

     Trade partnership financing

    This service consists of

    Murabah

    This service involves a request from a customer to the Bank or by the initiative of the Bank to purchase and then on-sell to the customer certain goods and/or assets not banned by sharia. The sale by the Bank to the customer is at cost plus on an agreed margin. Payment by the customer is in one or more pre-determined installments at agreed points in time. Ownership of the goods passes to the customer upon delivery by the Bank. Such a sale contract is valid on condition that the price, other costs, and the profit margins of the seller are stated at the time of the agreement of sale. The asset/good remains as a mortgage with the Bank until the default is settled. The Bank may ask for collateral, if necessary, for this financial service, Among the services included in Murabaha are the following:

    •   Murabaha fixed-time financing —- For production inputs, purchase of machinery, or short-term project;
    •  Murabaha revolving  financing — For purchase of production inputs;
    •  Murabaha LC  financing — For purchase of production inputs from abroad or for buying machinery;
    • Murabaha pre-shipment and Murabah post-shipment financing for the purchase of goods to be exported.

    Salam

    This is a financing service that would be made available in cash for operating costs to customers engaged in agriculture as per the agreement to be reached between the Bank and the customer. It is an arrangement whereby the customer delivers the type of product s/he produces in accordance with the type, quality, quantity, price, and time agreed upon with the Bank or to the agent/body the Bank has entered salam finance agreement. The Bank may ask for collateral, if necessary.

    Istisna:

    Istisna is a contract of sales and purchase of assets by specification or order where the price is paid in advance but the assets are manufactured or produced and delivered at a later date. In line with this, the Bank will deliver industrially produced goods or assembled and constructed items as per the orders/specifications of the customers when they are finalized by the producers. The Bank, based on the job order/specifications of the customer and making a separate agreement with the builders/producers, may make payments to the institutions at once or in installments by assessing the progress of the work. The Bank may ask for a guarantee from the customer and producer/builder.

    Ijara

    This is a leasing agreement where the Bank buys agricultural vehicles or industrial machinery for lease/rent on its own initiative or by the order of a customer/client and then leases it back over to him/her/it for a fixed period. Depending on the promise given earlier, the Bank can sell the asset or transfer it freely to the lessee customer on or before the last day of the lease agreement. The Bank may ask for a guarantee to provide this service.

    By making use of these a customer can obtain money for:

    • Running costs;
    • Purchase of goods/assets;
    • Export and import trade;
    • Project finance;
    • Lease; and
    • Operating cost for agricultural works/activities.

    Guarantee: – The Bank makes available guarantees such as advance payment guarantee, bid bond and performance bond; and it may request collateral for the services.

    International Trade Support Financing

    The service is provided for customers engaged in export and import trade, and it is an arrangement where customers delegate the Bank or collaborate with it.  This service is similar to the international trade support service given regularly interest-free.

    Hawallah

    Local beneficiaries of hawallah can collect money sent to them through branches of the Bank from any part of the country from the closest branch that has interest free banking window and could similarly send money using this service. Besides, customers can similarly utilize the service to receive money sent to them from any corner of the world.

    Foreign Exchange

    Customers of international trade support services can trade/exchange foreign currencies according to the spot rate of the day.

    CBE Electronic Baking

    Through CBE’s Internet Banking, many transactions can be carried out from the comfort of your home or office. The online services include:

    • Viewing account balances and transactions.
    • Making fund transfers between a customer’s own current accounts and savings accounts.
    • Effecting payments to third parties, including bill payments to predefined CBE customers within Ethiopia.
    • Viewing and downloading Current and Saving account statements.
    • Requesting for Stop Payments on cheques, etc.
    • Applying for a Letter of Credit.

    Using CBE’s Internet Banking facility, customers will benefit from Personal and Corporate Internet Banking services that are available, 24 hours a day, 7 days a week, from any location.

    Other Services

    Commercial Bank of Ethiopia has one of the most powerful mobile banking services, in terms of its popularity, with more than two and a half internet banking users. Its ATM service is all around which makes it easy to withdraw money wherever you go. Apart from that, its integration with many day-to-day providers is putting much burden off on traditional banking. Internet, Mobile, and CBE Birr are of alike services as share the same functionalities with the public, with minor changes and updates.

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    8.7

    Commercial Bank of Ethiopia (CBE)

    Loan Interest

    9.4

    Mobile Banking

    10

    Internet Banking

    8

    Saving Interest

    8.6

    Customer Service

    8

    Diaspora Benefit

    8

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