cbe

USD
54.4025
55.4906
,
GBP
64.7507
66.0457
,
EUR
58.3684
59.5358
,
CHF
57.1241
58.2666
,
SEK
4.5341
4.6248
,
NOK
4.4889
4.5787
,
DKK
7.0919
7.2337
,
DJF
0.3047
0.3108
,
JPY
0.3522
0.3592
,
CAD
36.8768
37.6143
,
SAR
13.1274
13.3899
,
AED
13.4029
13.671
,
XAF
0.002
0.0122
,
INR
,
KES
,
AUD
32.8737
33.5312
,
SDR
,
ZAR
,
CNY
6.9052
7.0433
,
KWD
168.8466
172.2235

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

AED
13.4029
13.671
,
CAD
36.8768
37.6143
,
CHF
57.1241
58.2666
,
EUR
58.3684
59.5358
,
GBP
64.7507
66.0457
,
NOK
4.4889
4.5787
,
SAR
13.1274
13.3899
,
SEK
4.5341
4.6248
,
USD
54.4025
55.4906

abay

USD
54.4025
55.4906
,
EUR
58.3684
59.5358
,
GBP
67.8018
69.1578
,
CHF
59.8158
61.0121
,
AUD
36.3245
37.051
,
AED
14.8098
15.106
,
CNY
7.6301
7.7827
,
DKK
7.8363
7.993
,
DJF
0.3047
0.3108
,
INR
0.6587
0.6719
,
JPY
0.3891
0.3969
,
KES
0.3904
0.3982
,
NOK
4.9601
5.0593
,
SAR
14.5054
14.7955
,
ZAR
2.8707
2.9281
,
SEK
5.0101
5.1103
,
SDR
72.3662
73.8135

zemen

CAD
40.7479
41.5629
,
EUR
58.3684
59.5358
,
GBP
67.8018
69.1578
,
SEK
5.0101
5.1103
,
USD
54.4025
55.4906

buna

USD
54.4025
55.4906
,
EUR
58.3684
59.5358
,
GBP
64.7507
66.0457
,
AED
13.4029
13.671
,
SAR
13.1274
13.3899
,
CAD
36.8768
37.6143
,
CNY
6.9052
7.0433
,
USD
7.0919
7.2337
,
EUR
4.5341
4.6248
,
GBP
57.1241
58.2666
,
AED
0.3522
0.3592
,
SAR
4.4889
4.5787
,
CAD
168.8466
172.2235
,
CNY
32.8737
33.5312

nib

GBP
64.7507
66.0457
,
EUR
58.3684
59.5358
,
CHF
57.1241
58.2666
,
USD
54.4025
55.4906
,
CAD
36.8768
37.6143
,
AED
13.4029
13.671
,
SAR
13.1274
13.3899

berhan

USD
54.3861
55.4738
,
EUR
58.2693
59.4347
,
GBP
64.6741
65.9676
,
CAD
36.7611
37.4963
,
AED
13.3989
13.6669
,
YUA
6.9193
7.0577

wegagen

USD
54.2965
55.3824
,
GBP
64.0075
65.2877
,
EURO
58.1841
59.3478
,
CAD
36.1417
36.8645
,
AUD
32.1413
32.7841
,
CHF
56.8974
58.0353
,
SEK
4.6669
4.7602
,
NOK
4.6606
4.7538
,
DKK
7.1482
7.2912
,
DJF
0.3031
0.3092
,
INR
0.6588
0.672
,
KSH
0.4039
0.412
,
JPY
0.3681
0.3755
,
SAR
13.0258
13.2863
,
AED
13.3071
13.5732
,
ZAR
3.1723
3.2357
,
CNY
7.1053
7.2474
,
KWD
168.0519
171.4129

dgb

USD
54.4025
55.4906
,
GBP
67.8018
69.1578
,
EUR
58.3684
59.5358
,
CHF
59.8158
61.0121
,
CAD
40.7479
41.5629
,
AUD
36.3245
37.051
,
SEK
5.0101
5.1103
,
NOK
4.9601
5.0593
,
DKK
7.8363
7.993
,
DJF
0.3047
0.3108
,
INR
0.6587
0.6719
,
KSH
0.3904
0.3982
,
JPY
0.3891
0.3969
,
SAR
14.5054
14.7955
,
AED
14.8098
15.106
,
ZAR
2.8707
2.9281
,
CNY
7.6301
7.7827
,
KWD
176.8027
180.3388

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

GBP
61.7297
62.9643
,
USD
53.7176
54.792

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
54.4025
55.4906
,
GBP
64.7507
66.0457
,
CHF
57.1241
58.2666
,
SEK
4.5341
4.6248
,
NOK
4.4889
4.5787
,
DKK
7.0919
7.2337
,
JPY
0.3522
0.3592
,
CAD
36.8768
37.6143
,
SAR
13.1274
13.3899
,
AED
13.4029
13.671
,
EUR
58.3684
59.5358
,
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
54.4025
55.4906
,
GBP
67.8018
69.1578
,
EUR
58.3684
59.5358

coop

USD
54.3747
55.4622
,
GBP
67.4953
68.8452
,
EUR
58.1483
59.3113
,
SAR
14.4991
14.7891
,
AED
14.8027
15.0988

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

Siinqee Bank Review

Siinqee Bank

Siinqee Bank

4.9 Rating

5.7% Saving Interest

Deiaspor Banking and loan

MFI loan

Agrecultural loan

Interest free Banking

Micro-Finanace institution's loan

Pros and Cons

pursiuts on women empowerment
support MFI
Several dispora service choices
400+ Branches
  • undeveloped Internet Banking

    Siinqee Bank Information

    Contact Information

    • SWIFT SINQETAA
    • 011-215-0481

    Diaspora Benefits

    • Resident Foreign Currency Accounts (RFCY)
    • Non-Resident Transferable Birr (ETB) Account (NRT)
    • Non-Resident Non-Transferable Birr Account (NRNT)
    • Retention Accounts
    • Foreign Currency A/Cs for Ethiopians in Diaspora

    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

    • Term Loan 2
    • Motor Vehicle Loan 1
    • MFI loan 1
    • Loans for International and domesticTrade 2
    • Partial Financing 2

    Saving Interest

    • Personal Saving 2%
    • Women Saving 2%
    • Youth Saving 1%
    • Diaspora Fixed Time 3%

    coustomers may find siinqee bank exchange rate today here.

    About Siinqee Bank

    Siinqee Bank, the Formal Oromia Credit & Saving, is among the first microfinance institutions (MFIs) to grow it self to banking institution after the central bank of Ethiopia allowed MFIs to evolve into full-fledged banks.

    Siinqee had its transformation on May 2021 with 22 shareholders and a paid-up capital of 4.4 billion birr. Which the shareholders manages to rise in to 7.45 billion birr. The bank  pursuits values like integrated, inclusive, and innovative banking and microfinance services so that women possess it in the society.

    siinqee bank branches has reached over 400 branches across the country, 2 million customers, and has manage  to mobilize 6.1 billion in deposits. with a total capital of 8.09 billion Br. Siinqee Bank made its official debut in the banking industry with a capital base that puts it on a footing with veterans a few months ago.

     

    Service Provided by Siinqee Bank 

    Ordinary Savings Account

    Ordinary saving account is an interest bearing deposit account which is provided for all customers who full fill the banks requirement. Customers get there interest every month with their calculated minimum balance.

     

    Term Loan

    Siinqee Bank provides many loan services classified  to different types based on the term duration.

     

    Short-Term Loan :- is a loan extended to finance the working capital needs and to address other short-term financial constraints of the borrower. The time duration for the short term loan is a maximum of two years.

     

    A Medium-Term Loan :- is a loan that has an extended longer  period than two years, not exceeding a maximum period of five years.

     

    A Long-Term Loan:- on the other hand, is a loan, which has a maturity period than of the rest

    Agriculture Term Loan

    It is a short to long-term loan granted for agricultural investment , agricultural machinery and  for production input .

    Applicants for the loan has to be a direct worker on the agriculture sector or involved on related agriculture influential sector (MSME) and purchasers , ago-processing machine manufacturers and  animal production (production of dairy and poultry and livestock fattening activities)

    Motor Vehicle Loan

    This  Loan type  is a term loan granted for the purchase of new motor vehicles. Meanwhile the loan doesn’t  include the cost of spare parts or luxury items. The loan is provided for customers who full fill the General Eligibility Criteria, and the specific requirements for this service.

    Domestic Trade and Services (DTS) Loan

    Credit assistance in the form of working capital is crucial for smooth flow of goods from producers to end users or consumers through local traders.

    This service encourages domestic  goods and services , goods like imported or locally produced encouraged through bank financing and rendering of services like  trainings,legal advisory ,investment advisory and many more

    Tourism and Hospitality

    Tourism and hospitality industry  presumes a lot of huge sectors than it seems , industries like ; hotels and  resorts , cultural exposures, food and beverage ,Siinqee Bank understands that supporting the tourism sector would be a hit of many birds with one stone . loan request for this sector is most of the time medium and long-term since it requires some amount of time for recovery.

    Loans for International Trade

    This loan category comprises both export and import related business activities. The Bank grants loans for export of agricultural products ,raw minerals or semi-processed minerals, industrially manufactured or semi-processed products.  The loan is  provided in the form of revolving credit facilities and advances against sales contract and letter of credit in addition to financing in the form of term loans, and overdraft facilities.

    Partial Financing for Acquired and Foreclosed Collateral

    Partial Financing is a financing scheme whereby the Bank  holds customer owned properties as a collateral which has an equivalent price with half of the loan . properties like  buildings, vehicles, machinery, and business establishments . this service have special eligibility criteria in addition to the general requirements ,Even under those full filaments Such loans are not allowed to a customer for more than two times a year.

     

    Syndicate Loan :- this is a type of loan where Siinqee Bank and other financers shares in agreement  of the term length, the purpose of this loan is to finance longer term investments which requires a large amount of funding. The funding may be used to acquire fixed assets and may incorporate a working capital for the project under consideration.

    Micro-Finance Institutions’ Loans

    Micro-Finance Institutions’ Loan is a loan availed to institutions which works  on providing  credit for Micro-entrepreneurs mainly in the form of term loans that are repayable within short to medium terms.

    Channel Financing

    Channel financing is a loan provided for customers in accordance to another customers recommendation of them. It is provided for short term of time   The loan is granted after the supplier or manufacturer signs personal guarantee and/or offers other acceptable collateral. The guarantor shall present the recorded business relationship including payment record of accomplishment and level of purchases/sales.

    Loans to Public Enterprises and Urban Utilities

    Loans to Public Enterprises are loans to public companies established as legal entity and which have a mandate to borrow funds from commercial banks. Public enterprise loans are granted in the form of short-to-medium-term loan.

    Consulting Firm Financing

    Consulting Firm Financing is a form of short-term loan extended for the purpose of working capital financing to business professionals engaged in rendering professional services such as Engineering, ICT, Law, Accountancy, Management, Architecture, Art, etc

    Inter-Bank Lending

    The Bank may borrow from or lend funds to other banks/financial institutions. These inter-bank money market transactions shall be executed in accordance with the NBE directives. An Inter-Bank Lending is a short-term loan extended by one bank to another to alleviate liquidity shortage of the applicant bank.

    Equipment/Machinery Lease Financing

    The Bank may avail the Equipment/Machinery Lease Financing for either of the parties to the lease agreement

    Idea Financing

    Idea financing is a term loan that is extended to individuals/groups for implementing scientific studies, which has recognition in invention and innovation by the concerned government organ;

    The loan can also be granted for promotion and advertisement of artistic and intrinsic societal cultures, commercial/mass production and marketing of creative ideas that have obtained recognition from the Intellectual Property Right Protection Office.

    Loan Buyout

    Loan Buyout is a type of arrangement wherein the Bank buys loans from other Banks. This is done when it is believed that buying of the loan is beneficial to the bank.

    The main objectives of Loan buyout can be to:

    1. Regain ex-customer of Siinqee Bank;
    2. Attract new customers from other banks;

    Increase quality of loan whereby the bank held the collateral as a second degree for loans lent by other banks;

    International banking

    1.Import Trade Service

    Siinqee Bank provides import and export services to its customers who are involved in international business  SIB provides expertise advice and quick customer services with the aim of laying the platform to smooth trade activities and transactions between sellers and buyers.the services is to be provided in accordance to its protocols and requirement for example a customer in need of import trade service needs to be aware of the payment methods (Letters of Credit (L/C), Cash Against Documents (CAD), (A/P) Cash in advance, Consignment) each having there own unique requirement and agreements .

    2.Export Trade Service

    Helps customers to get their products to the world wide market through different payment methods(Letters of Credit (L/C), Cash Against Documents (CAD), Cash in advance and Consignment) following a similar process with their specific requirements .

    3.Forex Services

    Siinquee bank have its forex license from NBE(National bank of Ethiopia) in order to provide currency services to its customers.

    customers can get access to this services at there nearest siinqee bank branches.

    Diaspora & Foreign Currency Accounts

    Siinqee Bank  has provided many choices for the wide diaspora community in accordance to there illegibility ,customers (citizens , not citizens ) who are not working or resident at Ethiopia have  the following account types .

    1-Resident Foreign Currency Accounts (NRFCY)

    These account is open for international customers (international institutions, embassies, foreign individuals who makes there living in Ethiopia )who have an authorized letter from which expresses basic information about the person  NBE together with their request .

    2, Non-Resident Transferable Birr (ETB) Account (NRT)

    It is  non-interest-bearing accounts with a specific found sources like    NR transferable Birr accounts from abroad or from payments from other NR accounts and NR foreign currency accounts.

    3, Non-Resident Non-Transferable Birr Account (NRNT)

    Non-interest-bearing accounts which are  denominated in Birr.

    4,Retention Accounts

    According to NBE’s Directive, eligible exporters of goods and services and recipients of inward remittances can open foreign exchange retention accounts, namely:

    Foreign Exchange Retention Account for 20 % of a single transfer

    The remaining amount, 80% will be credited to local currency Account of a single transfer.

    The balance held in retention account may be kept for an indefinite period of time and shall be sold fully or partly by the request of the account holder.

    5,Foreign Currency A/Cs for Ethiopians in Diaspora

    All Ethiopian nationals who  lives and works abroad for more than one year or business organizations which are owned by non-resident Ethiopians,located outside Ethiopian territory for more than one year are illegible to yous this service .

    Types of  Diaspora Accounts

    Fixed (time) Deposit Account:  is a type of account where customers get interest with agreed maturity date.

    Current Account: It  operated by per-arranged procedure  and by using cheque book (based on  preferable choice of the customer ).

    Non-Repatriable Birr Account: this account is served for customers who would wish to have a saving deposit  that they can only use for local payments. And the good thing about this service is that the National Bank of Ethiopia  double the minimum saving deposit Interest rate on such accounts.

    International Money Transfer

    The Bank provieds many types of international transactions trouggh all of siinqee bank branches.

    1.1. Inward Transfers

    Is a service provided for customers to receive their incoming transfers through all of siinqee Bank brunches through remittance Service Providers (Western Union, Money Gram) or from Bank to Bank transfers(SWIFT)

    1.2. Outward Foreign Payments (Transfers)

    Since Siinqee Bank has established similar bank account relation ships with many banks worldwide , individual or organizational customers can request for payments to be proceed  across boards including , medical bills, membership fees , hotel booking, insurance, and  imports (≤ USD 5,000.00) .

    Correspondent Banks:-

    service is provided by building relation with prominent banks worldwide. Interest Free Deposits products: Two categories of deposits

    1,Non-Mudaraba Deposit type,

    • Amana – Current Account;
    • Wadia – Saving Account;
    • Hajji/Umra – Saving Account
    • New accounts I.e. For women, Children, Education and Retirees

    2,Wadia – Saving Account;

    “Wadia” means custody or safekeeping. In a Wadia arrangement, an account holder deposits funds in a bank and the bank guarantees the safety and refund of the entire amount of the deposit, or any part of the outstanding amount, when the depositor demands it.

    3, M Birr

    Siinqee Bank provides M birr as one of its service for a day to day transaction , payments , telecom activities and the good future in its customers can use there phone only with no need of internet connection. for furtuer information you may visit the nearst siinqee bank branches

    4.9

    Siinqee Bank

    Loan Interest

    9.4

    Mobile Banking

    2

    Internet Banking

    2

    Saving Interest

    5.7

    Customer Service

    2

    Diaspora Benefit

    8

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