cbe

USD
55.2124
56.3166
,
GBP
64.4967
65.7866
,
EUR
58.7184
59.8928
,
CHF
57.9363
59.095
,
SEK
4.5316
4.6222
,
NOK
4.6506
4.7436
,
DKK
7.1279
7.2705
,
DJF
0.3092
0.3154
,
JPY
0.3362
0.3429
,
CAD
37.1227
37.8652
,
SAR
13.3203
13.5867
,
AED
13.6031
13.8752
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
32.1139
32.7562
,
SDR
,
ZAR
,
CNY
6.8347
6.9714
,
KWD
170.5482
173.9592

awash

EUR
56.5106
57.6408
,
GBP
64.5257
65.8162
,
JPY
0.4037
0.4118
,
CHF
57.4629
58.6122
,
SAR
14.1527
14.4358

abyssinia

abay

USD
55.2124
56.3166
,
EUR
58.7184
59.8928
,
GBP
67.5358
68.8865
,
CHF
60.6663
61.8796
,
AUD
35.485
36.1947
,
AED
15.0311
15.3317
,
CNY
7.5522
7.7032
,
DKK
7.8761
8.0336
,
DJF
0.3092
0.3154
,
INR
0.664
0.6773
,
JPY
0.3715
0.3789
,
KES
0.3737
0.3812
,
NOK
5.1388
5.2416
,
SAR
14.7186
15.013
,
ZAR
2.946
3.0049
,
SEK
5.0073
5.1074
,
SDR
72.654
74.1071

zemen

CAD
41.0196
41.84
,
EUR
58.7184
59.8928
,
GBP
67.5358
68.8865
,
SEK
5.0073
5.1074
,
USD
55.2124
56.3166

buna

USD
54.778
55.8736
,
EUR
60.4201
61.6285
,
GBP
67.3216
68.668
,
AED
13.4962
13.7661
,
SAR
13.2148
13.4791
,
CAD
37.5106
38.2608
,
CNY
6.9339
7.0726
,
USD
7.3374
7.4841
,
EUR
4.7259
4.8204
,
GBP
60.0815
61.2831
,
AED
0.3485
0.3555
,
SAR
4.8953
4.9932
,
CAD
170.2997
173.7057
,
CNY
33.2543
33.9194

nib

GBP
64.4967
65.7866
,
EUR
58.7184
59.8928
,
CHF
57.9363
59.095
,
USD
55.2124
56.3166
,
CAD
37.1227
37.8652
,
AED
13.6031
13.8752
,
SAR
13.3203
13.5867

berhan

wegagen

USD
55.1843
56.288
,
GBP
65.3387
66.6455
,
EURO
59.0472
60.2281
,
CAD
37.1702
37.9136
,
AUD
32.2574
32.9025
,
CHF
58.7918
59.9676
,
SEK
4.4943
4.5842
,
NOK
4.6479
4.7409
,
DKK
7.1688
7.3122
,
DJF
0.3093
0.3155
,
INR
0.6629
0.6762
,
KSH
0.3749
0.3824
,
JPY
0.3382
0.345
,
SAR
13.3139
13.5802
,
AED
13.5955
13.8674
,
ZAR
3.1723
3.2357
,
CNY
6.8493
6.9863
,
KWD
170.6195
174.0319

dgb

USD
55.2124
56.3166
,
GBP
67.5358
68.8865
,
EUR
58.7184
59.8928
,
CHF
60.6663
61.8796
,
CAD
41.0196
41.84
,
AUD
35.485
36.1947
,
SEK
5.0073
5.1074
,
NOK
5.1388
5.2416
,
DKK
7.8761
8.0336
,
DJF
0.3092
0.3154
,
INR
0.664
0.6773
,
KSH
0.3737
0.3812
,
JPY
0.3715
0.3789
,
SAR
14.7186
15.013
,
AED
15.0311
15.3317
,
ZAR
2.946
3.0049
,
CNY
7.5522
7.7032
,
KWD
178.5845
182.1562

enat

USD
53.1422
54.205
,
GBP
62.1342
63.3769
,
CHF
0
0
,
SEK
0
0
,
NOK
0
0
,
DKK
0
0
,
KES
0
0
,
JPY
0
0
,
DJF
0
0
,
CAD
0
0
,
AUD
0
0
,
SAR
0
0
,
AED
0
0
,
ZAR
0
0
,
CNY
0
0

addis

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
55.2124
56.3166
,
GBP
64.4967
65.7866
,
CHF
57.9363
59.095
,
SEK
4.5316
4.6222
,
NOK
4.6506
4.7436
,
DKK
7.1279
7.2705
,
JPY
0.3362
0.3429
,
CAD
37.1227
37.8652
,
SAR
13.3203
13.5867
,
AED
13.6031
13.8752
,
EUR
58.7184
59.8928
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY
,
AED

oromia

USD
53.3285
54.3951
,
EUR
56.7522
57.8872
,
GBP
64.2235
65.508
,
SAR
14.185
14.4687
,
CHF
57.398
58.546
,
AED
14.5198
14.8102

lion

USD
55.2124
56.3166
,
GBP
64.4967
65.7866
,
EUR
58.7184
59.8928

coop

USD
55.208
56.3122
,
GBP
67.6574
69.0105
,
EUR
58.8131
59.9894
,
SAR
14.7182
15.0126
,
AED
15.0291
15.3297

gadaa

hijra

EUR
59.0833
60.265
,
USD
54.2297
55.3143
,
GBP
64.8713
66.1687
,
AED
13.3629
13.6302
,
KWD
168.8489
172.2259
,
SAR
13.3629
13.3481

Cooperative Bank of Oromia Review

Cooperative Bank of Oromia

Cooperative Bank of Oromia

8.2 Rating

7% Saving Interest

Diaspora Banking

Loans and Advances

Interest-Free Banking

Cooperatives Financing

Financing agricultural products

Pros and Cons

Detailed Diaspora Banking Services
Reliable and well-distributed E-Channels
Flexible Loans and Advances
more than 630 bruunches
  • Limited cooperative banking
  • Low investment opportunities

    Cooperative Bank of Oromia Information

    Contact Information

    Diaspora Benefits

    • Optional 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 Automobile Loan 15
    • Diaspora Mortgage Loan 8.5
    • Corporate Loan 15
    • Investment Loan 15
    • Working Capital Loan 15

    Saving Interest

    • Personal Saving 7%
    • Women Saving 8%
    • Youth Saving 8%
    • Teen Saving 8%
    • Education Saving 8%
    • Diaspora Fixed Time 14%

    Apply for a loan here

    Banks Ethiopia gives you the access and information you need to get car loan and house loan services in Ethiopia from the bank of your choice. If you are a non resident and/or a foreigner with origin of Ethiopia looking for these loan services, make sure to visit our diaspora mortgage loan and diaspora vehicle loan pages to acquire a more detailed information.

    Cooperative Bank of Oromia Exchange Rate

    The exchange rate for Cooperative Bank of Oromia can also be found at our exchange rates page, along with all other banks’ exchange rates in Ethiopia today.

    code name buying buyingTrend selling sellingTrend
    USD USD - US Dollar 55.208 56.3122
    GBP GBP - Pound Sterling 67.6574 69.0105
    EUR EUR - Euro 58.8131 59.9894
    SAR SAR - Saudi Riyal 14.7182 15.0126
    AED AED - Arab Emirates Dirham 15.0291 15.3297

    About Cooperative Bank of Oromia

    Cooperative Bank of Oromia was formed on the 24th of October, 2004 with an authorized capital of Birr 300 million, and paid-up share capital of birr 112 million on March 2005, cooperative bank of Oromia branches has now reached more than 630 through out the country.

    Services Provided by Cooperative Bank of Oromia

    Cooperative Bank of Oromia Diaspora banking

    You will need the following documents to have a Diaspora Account with Cooperative Bank of Oromia:

    • Residence and/or valid work permit.
    • Proof of Identification that is valid
    • Renewed passport for non-resident Ethiopians/renewed passport & a yellow card for foreigners of Ethiopian Origin
    • One recent passport size photograph
    • If applicable: the power of attorney
    • copy of ID, and
    • one recent passport size photograph of the agent(s)
    • Diaspora Deposit Account
    • Current account

    Diaspora customers can have current accounts that have personalized checkbooks, with free transactions all across Cooperative Bank of Oromia’s branches as well as free withdrawals fee for foreign currency transactions. The account is available in local and foreign currency, with a debit card on request. Customers have the option of a joint signatory if they have a spouse, sibling, or parent in Ethiopia. There is a special personal banker who would help the customer and give him/her advisory services. CBO also provides easy access to credit facilities and manages third-party payments. Diaspora Customers of CBO have access to the bank’s various E-Channels.

    Savings Account

    Savings account for Diaspora with Cooperative Bank of Oromia has a better interest rate, and the deposited amount can be both in local or foreign currency. There is a special personal banker who would help the customer and give him/her advisory services. Deposits can be used as collateral if the customer decided to go with personal loans and advances with CBO.

    Fixed Time Account

    This is an interest-bearing account with a predefined maturity date, which a minimum of the maturity date is 3 months, and an initial deposit of USD 5,000. The minimum amount is USD 100 or what is equivalent in an eligible currency. The interest on the fixed time account for Diaspora is payable only if the minimum period is maintained with CBO. Interest income on such accounts is tax-free.

    Ethiopian Citizen or Origin Living in Foreign Land (ECOLFL) Savings Account

    This is a saving account of a normal interest rate that is opened for local currency savings, and it is operated/opened by non-resident Ethiopians/non-resident foreign nationals of Ethiopian origin. You can open an account either physically or via an agent, or as a couple. Deposits must be done in foreign currency.

    • Diaspora consumer loans
    • Mortgage/home loan
    • Loan Interest Rate: – from 8.5% per annum

    Diaspora customers can get a mortgage loan for the construction and purchase of a house or another house with an existing compound. Cooperative Bank of Oromia is to give a grace period of one year with a special banker who’d act as an advisor for the customer. Loans by CBO, which run an interest rate from %8.5 per annum, can be up to 20 years for both local and foreign currencies, with an equity contribution that starts with %20 of the house constructed/purchased.

    Automobile Loan

    This is a term loan for Diaspora who’d like to acquire a new car/automobile. The loan repayment can be scheduled for up to 10 years, with a grace period of 6 months. On the other hand, used automobiles can be given a grant if its year is of 7 years or less.

    Read more detailed information about car loan and requirements here.

    Personal Loan

    The loan period shall be up to five years. This is a term loan, of up to 5 years, provided by CBO that covers urgent financial requirements, such as:

    • Medical treatment of self/family member
    • Education fee
    • Expenses of domestic/foreign travel or
    • any kind of personal expenses.

    Cooperative Bank of Oromia Diaspora Business loans

    Investment Financing

    Of the project submitted by Diaspora, Cooperative Bank of Oromia is to finance not more than 80%, with 20% to be financed by the promoter from his/her own equity, which shall be transferred via our bank. Documents required to borrow for projects are:

    • legal documents
    • An approved construction plan
    • Project proposal
    • Investment license
    • Memorandum & article of association
    • Landholding certificate/lease agreement
    • TIN
    • Working capital loans

    Diaspora who is running businesses within Ethiopia is eligible to ask for working capital loans that the Cooperative Bank of Oromia provides. There are documents that CBO requires, which are: Documents related to collateral, which CBO will offer

    Tax clearance, Business license, Financial Statements/Financial Plan, TIN, Cooperative Banking, Cooperatives Financing, Mechanization, Working capital for agricultural products, Model Farmers, Beekeeping, Input Loans, Dairy Farming, Agro-processing, Working capital for exportable items, etc

    Resource Mobilization from cooperatives and farmers household, Foreign currency, Remittances, Saving culture development, Capacity Building (Coops Personnel), Technical Advisory role, Training, Both Local and abroad, Awareness creation, Linkage with stakeholders, Such as NGOs, etc

    Cooperative Bank of Oromia Interest-Free Banking

    Customer’s Account

    • Wadiah Saving Account

      With unlimited withdrawals numbers, the customer can deposit with Cooperative Bank of Oromia

    • Labbaik Saving Account

      This is directed to those who want to travel to Mecca & Medina and do Hajji or Umrah. The deposited amount by the customer is to be availed at his/her request.

    • Wadiah Demand Deposit/Current Account

      This is a type of accounts provided by Cooperative Bank of Oromia where customers do deposits and the bank safely keeps the money with no interest.

    • Mudharabah Unrestricted Investment Account

      The deposited amount is to be set on CBO’s general pool of Shariah Law Banking services and activities, and in return, he/she gets a shared percentage or portion of the lost capital.

    • Mudharabah Restricted Investment Account

      The deposited amount is to be invested into a project by the customer’s choice, and in return, he/she gets a shared percentage or portion of the lost capital.

    • Wadiah Special Accounts

      Is a safekeeping account operated by cheque. customers deposit money to be safely kept within the Cooperative Bank of Oromia.

    Financing

    • Murabaha Financing

      This is a contract of promise between Cooperative Bank of Oromia and the customer to sell and purchase a commodity, machinery, vehicle, etc on a pre-agreed upon profit added to the cost

    • Ijaraha Financing

      This is a form of financing where the Cooperative Bank of Oromia is to finance leases of properties.

    • Salam

      The seller in this situation is to supply some goods, usually agricultural goods requested by the buyer at some time in the future in return for an advanced price that is fully paid on the spot.

    • Istisna

      Cooperative Bank of Oromia is to act as a manufacturer/constructor here to manage, as per specification: Power station, House construction, roads projects, Plant, etc

    Investment

    • Mudharaba Investment

      This is a partnership between Cooperative Bank of Oromia and the customer with shared profit and loss as agreed upon.

    • Musharaka Investment

      Joint ownership of either property, equipment, or commercial enterprise where one partner is to profit as per the agreed-upon ratio, while losses are to be shared n equal proportion against the capital contribution of that partner.

    • Diminishing Musharakah

      This is a co-ownership where two or more people, say COB and the customer, share the ownership of a tangible asset, in a pre-agreed upon ratio. One of the co-owners is to manage to purchase in split installments the share of the other co-owner until the title is transferred to the client/co-owner.

    • Kafala

      This is a written promise by Cooperative Bank of Oromia that they will pay a sum of money to a recipient, either local or foreign, if the obligor, its customer, fails to satisfy his/her/its obligations in alliance with the terms and conditions of the contract. There are many types of Kafala that Cooperative Bank of Oromia does:

      Customs Duty Guarantee, Performance Bond, Retention Payment Guarantee, Bid Bond, Letters of Indemnity for Missing Documents, Advance Payment Guarantee, Trade Services, Wakalah Letter of Credit

      This is a written document where Cooperative Bank of Oromia gives such a document at the request of a buyer under the Wakala Contract to make payments/accept bills. It is to be drawn by the seller up-to some sort amount of money within a specific timeframe.

    • Murabaha Import Letter of Credit

      A contract between Cooperative Bank of Oromia, who buys the goods for a customer, and afterward the customer agrees to in, the long run, purchase the goods from the Bank via re-sale.

    • Musharaka Letter of Credit

      This is a contract where the value of of the credit issued by Cooperative bank of Oromia are shared between the bank itself and the customer of the bank, based on pre-agreed upon contract.

    • Wakala Export Letter of Credit

      Cooperative Bank of Oromia appoints the exporter as its agent for the collection of receivables on the bank’s behalf

    • Wakala Documentary Collection (Wakala Cash Against Document – CAD)

      This is a transaction in which both the importer and exporter have a contract. The exporter delivers documents to the importer via the Cooperative Bank of Oromia. If the total price is paid and collected fully, then the buyer gets the purchased goods.

    • Wakala Advance Payment

      This is a transaction in which the importer does payment for the goods to be imported before the shipment, and he/she shall trust the supplier that he/she will ship the goods on time and that the goods are as agreed upon.

    • Wakala Consignment Basis Payment (for Export)

      This is a transaction method where a local exporter exports goods to a foreign importer, who is supposed to pay the exporter only if the goods are sold

    Contact Information

    Toll-free Number: 609

    Cooperative Bank of Oromia phone number: +251 11 515 0229

    Cooperative Bank of Oromia email address: [email protected]

    SWIFT: CBORETAA, Addis Ababa, Ethiopia

    Cooperative Bank of Oromia Head Office: Africa Avenue, Flamingo Area, Get House Building, Addis Ababa, Ethiopia

    8.2

    Cooperative Bank of Oromia

    Loan Interest

    9.2

    Mobile Banking

    10

    Internet Banking

    6

    Saving Interest

    9.9

    Customer Service

    7.2

    Diaspora Benefit

    7

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