Awash Bank Products and Services

1. Special Deposit Account

A. Smart Children Account

For children under 18 years of age.
Birth certificate is required.
Minimum initial deposit is Birr 50 (Fifty only).
Save at least for a year to be eligible for withdrawal.
The remaining minimum balance in the account shall always be Birr
1,000 (including the Birr 150 bonus, if any) to get the incentives.
Interest Rate (based on duration of deposit):
First month to the tenth yr 0.25%+ prevailing saving rate.
11 to 15 yrs. 0.5%+ prevailing saving rate.
Above 15 yrs. 0.75% + prevailing saving rate.
Gifts:
Deposit Gift of Birr 150.00 from birth to age ten. This shall be kept
until the child reaches the age of 15 years.
Educational gifts - books and supporting kits, at key stages (per each five year
of the child - at 5, 10 and 15 yrs).
B. Student Solution Account
Available for tertiary level undergraduate regular students in universities and
colleges.
In addition, the customer shall present a valid universities and colleges student
identification card.
The minimum amount required to open this account (initial deposit) is Birr
25.00 (Twenty five only).
ATM card issued free of subscription (card) fee.
A postgraduate educational loan facility of 200% of the saved
amount but limited to a maximum of Birr 150,000.00 if he/she saves for at least
two years after graduation
C. Salary Solution Account of The employer shall have a savings or current account
o Employees can open this account without initial deposit o In order to benefit,
the employer shall have at least 3 employees and above. o ATM card free of
subscription (card) fee.
o The account shall be operated via passbook/without passbook.
o The account holder shall have a minimum of Birr 1,000,000 (One million Birr)
in the savings account at all times.
o If the balance in the savings/CPSS account falls below the required minimum
amount, i.e., Birr 1,000,000 while paying the value of the Cheque, a penalty of
Birr 100 shall be levied once in a month

1
D. Investment Solution Account
Designed for individuals or organizations with regular incomes to save a fixed
amount of money every month
The minimum initial deposit and monthly installment amount shall be Birr 1,000
for personal customers and Birr 3,000 for enterprises.
From the pre agreed amount, the customer shall save 40% within agreed
deposit period which ranges from minimum of one year to a maximum of ten
years.
Interest rate and Duration
Interest Rate Duration
Normal Saving Interest 0 – 3 years
Rate(7%)+0.5%
Normal Saving Interest 4 – 6 years
Rate(7%)+0.75%
Normal Saving Interest Rate(7%)+1% 7 – 8 years
Normal Saving Interest 9 – 10 years
Rate(7%)+1.25%
E. Check Payment’s Solution Scheme (CPSS) Check Payment’s Solution Scheme (CPSS)
The account holder shall have a minimum of Birr 1,000,000 (One
million Birr) in the savings account at all times.
If the balance in the savings/CPSS account falls below the required minimum
amount, i.e., Birr 1,000,000 while paying the value of the Cheque, a penalty of
Birr 100 shall be levied once in a month
The current account portion shall pay no interest
The savings account portion shall get a prevailing interest rate plus
a bonus of 0.25%.
To be eligible for this interest rate, the minimum balance in the account shall
be Birr 1,000,000.
Protect the customer form dishonoring check presented for
payment.
Operation
Under CPSS, savings/CPSS account of same customer shall be linked to his/her/its
current account to be used as a source of fund for cheque payment.
After linking the two accounts, a flat charge of Birr 50 shall be collected
immediately. The unlinking charge is Birr 200.
F. Provident Fund Solution Account
The account benefits different private organizations and their
employees.
The account can be opened with zero balance in the name of individual employee.
The Bank may provide account statement monthly
free savings interest rate plus 0.5%

2
 The Bank may grant a term loan facility to account holders, up to a maximum
amount equal to the deposited Provident Fund amount, for the purchase of
consumer durable goods: Residential building, Automobile or any other fixed asset
G. Special Saving Account
It is an interest bearing
account Operated through the
usage of cheque.
The minimum initial deposit for SSA shall be Birr
1,000.00 Interest shall be calculated manually.
If the customers withdraw cash more than three times in a month, interest will
not be calculated for that particular month.
H. Awash Muday Bank
Refers to a basic saving account that allows petty traders to put small amount of
money aside and save without going to a bank
The minimum amount to open this account is Birr 25.
Before the customer gets the Box, he/she shall have a deposit balance equal to
50% of the recent cost of the Box, which is required as a guarantee for the box.
The amount equals to 50% of the recent cost of the Box shall be blocked on the
customer account and the customer should not be able to withdraw this
amount, except when he/she terminates using the services, in which case the
item will be returned to the Bank.
The customer needs to visit the branch once in 15 days’ time to deposit the
amount accumulated in the box to his/her bank account.
After emptying money, the box shall be locked by the designated staff and
returned to the customer. The key needs to always remain with Branch
Manager/CSM.
I. Lucy Women Special Women Account (LWSSA)
Available only to individual woman who is at least 18 years old or for
associations/companies with at least 51% ownership by women.
The minimum amount required to open this account (initial deposit) is Birr 50.
The default interest rate is the prevailing saving interest rate plus a bonus rate
of 0.5%, thus, currently 7.5% per annum.
For “and” and “and/or” account with only one person is the woman, the woman
will be primary party. The account will be opened by the name of the woman
followed by “and”, “and/or” the joint owner.

3
 Customers who open and operate Lucy Women Special Saving Account can have a
debit card, free of charge.
The Account holders are eligible for 50% lower price charges and fees on local
money cash to cash or account to cash transfers by the account holders from
one Awash Bank branch to another.
Women who have Lucy Women Special Saving Account can open Smart Children
Account and give the Bank standing order to transfer specified amount of money
periodically from her account to the Smart Children Account, with the waiver of
charges related to the services.

J. Elders Special Saving Account

They are senior citizens of Ethiopia or individuals of Ethiopian Origin who are 55
years old or more.
Minimum amount required to open this account (initial deposit) is Birr 50
The default interest rate is the prevailing saving interest rate plus a bonus rate
of 1%, thus, currently 8% per annum.
For “and” and “and/or” account with only one person is the elder, the elder will
be primary party. The account will be opened by the name of the elder followed
by “and”, “and/or” the joint owner.
Account holders are interested in renting a safe box and if unrented boxes are
available at the time of request, there will be 15% discount on the rental cost of
safe deposit boxes.
2. Saving Accounts

The Following Character are applied all the Saving Account Stated here.
 Is an interest bearing account
 Operated through with / without passbook.
 The minimum balance to open a savings account should be Birr 25.00.
 However, S/A may be opened and maintained with zero balance for one month.
 Savings account can be opened individually, “and/or” and “and”
 Saving Deposit Private sector
 Saving Deposit Public agency and Enterprise
 Saving Deposit Cooperative
 Saving Deposit Domestic Bank and Other Financial Agency
 Saving Account Blind
 Saving Account Trust Account
 Saving Account Illiterate

4
  Saving account Civil Society & NGO
 Saving Account Public Service and Social Security Agency

3. Current Account (Demand deposit Accounts)

The Following Character are applied all the Current Account Stated here 
DDA (current or checking account) is a non-interest bearing.
 operated through the usage of cheque
 It is opened by literate customers only.
 The minimum balance to open a Current account should be Birr 500.00.
 Demand Deposit Public agency and Enterprise
 Demand Deposit Domestic and Financial Agency
 Demand Deposit Cooperative
 Demand Deposit Private sector
 Demand Deposit and NR Transfer Birr
 Demand Deposit NR Non Transferable Birr Account
 Demand Deposit Government
 Current Account Civil Society & NGO
 Current Account Trust Account
 Current Account Agent Float Account
 Demand Deposit ECX Related Account
 Demand Deposit Retention Accounts
 Correspondent their Accounts

4. Fixed Deposit Account

The Following Character are applied all the Current Account Stated here
 A deposit for a certain period of time without movement for more than the
prevailing saving interest rate.
 The minimum period of accepting FTD shall be 3 months.
 The minimum balance to open the account is Birr 100,000.
 The rates of interest depend on the amount of money and the duration of the
account.
 Negotiation for Interest rate on fixed deposits is granted to the management of the
bank.
 Withdrawal before maturity period, shall loss the contract interest rate.
 No interest will accrue after expiry of the certificate unless replaced by a new one
 Fixed Deposit Private sector
 Fixed Deposit Public agency and Enterprise
 Fixed Deposit Cooperative
 Fixed Deposit Domestic Bank and Other Financial Agency

5
 5. Money Transfer service

1. SWIFT 9. RIA
2. Money Gram 10. T & Y
3. Western Union 11. Al-Alan sari
4. X-Press Money 12. EZ Remit
5. Dahabshill 13. Money Exchange
6. Asgori 14. Pay Pal
7. Trans fast 15. Dubai-Remit
8. Money Trans 16.Doha Bank
9. World Remit

S.N
MT Agent Name Ref Number or Pin Web Address
o
1 Asgori Money Express 3 Alphabets & 13 digit number https://www.asgori.net/eremit
mt
2 Dahabshiil Money Transfer 3 Alphabets & 7 digits number https://www.dahabonline.com
3 Doha Bank No Ref No (Name search) https://
dbankcor.dohabank.com .qa
4 EzRemit Money Transfer 12 digits number only https://www.ezremitonline.com
5 Money Gram International 8 digits number only Delta works Application
6 Money Trans Money Transfer 9 digits number only https://payout.moneytrans.eu
7 Ria Money Transfer 11 digits or No. 2 Alphabets and https://fxonline.riaenvia.net
10 digit No
8 Trans Fast Money Transfer 33AM or 33TF and 9 digits No’s http://transfastpay.com
9 Western Union Money 10 digits No only https://wupos.westernunion.co
Transfer m
10 Xpress Money 16 digits No only https://www.xpressmoney.biz
11 T & Y Money Transfer 2 Alphabets & 15 digit http://tandy.gremit.remitanywh
number(11 digit no) ere.eu
12 Dubai Remit 11 Digits https://www.dubairemit.com
13 Al-Ansari 9 Digits https://www.secure.cashexpress
.ae
14 Money Exchange 12 digits,4 digits-followed by 8 https://intranet.moneyexchange
digits .ea
15 SWIFT AWINETAA Awash Bank S.C
16 World Remit 8 Digits WRETH https://partenersworldremit.co
m
17 Pay Pal

6
6. Foreign Currency Accounts

 Some AB clients maintain foreign currency accounts, such as Forex Retention accounts
held by eligible exporters of goods and services and recipients of inward remittances,
Non Resident account held by foreigners and foreign nationals of Ethiopian origin in
accordance with the provisions of NBE directives. The opening procedures for foreign
currency accounts are same as opening procedures for current accounts in local currency

Who can open FCY account?

 Embassies ,Diplomat
 Diplomatic mission staffs (with the exception of Ethiopian nationals)
 members of International Community
 international organizations and their organs
 Foreign Investors, NGO, Non resident Ethiopian & Foreign Nationals of Ethiopian Origin

1. Non-Resident Non Transferable Birr account

 Non-Resident Transferable and Non-Resident Non-Transferable birr accounts are
also non-interest bearing accounts but they are denominated in Birr

2. Non-Resident Transferable Birr Account

 Non-Resident Transferable and Non-Resident Non-Transferable birr accounts are
also non-interest bearing accounts but they are denominated in Birr

3. Non-Resident Transferable Foreign Currency Account

 Non-resident foreign currency account is a non-interest bearing account
denominated in foreign currency.

 Note:- The source of funds for NR foreign currency accounts and NR

transferable Birr accounts shall be from abroad or shall only be from
payments from other NR accounts;

 Non-resident foreign currency account, N/R transferable Birr account

shall be opened in the name of Diplomatic missions, international
institutions and their foreign employees

 After obtaining prior approval of the NBE upon fulfilling the following
requirements by NBE directives:

Letter from the embassy confirming the source of income of the

applicant

Resident ID card

The maintenance of both NR foreign currency account and NR

transferable Birr account at the same time is forbidden;

7
  NR foreign currency and NR transferable Birr accounts shall only be used for the
following purposes as prescribed by NBE directives

 Payments to residents of Ethiopia in Birr,

 Drawings in Birr-notes and coins,

 Payment to other NR accounts,

 Bank charges, if any, levied by authorized bank,

 Cheques drawn in favor of any person resident outside Ethiopia

4. Diaspora Banking Service

4.1. Fixed(Time) Deposit Account

 It is an interest bearing account with agreed maturity date.
 The minimum maturity period is three months.
 It is opened with an initial deposit of US Dollar 5,000 or its equivalent in
any of the above stated currencies.
 Interest on such accounts shall be payable only if the account is
maintained at least for the minimum period of three months.
 Interest income on such accounts is tax-free.
 The Bank will give a certificate for its customer when the money is
transferred following the opening of the account.
 The bank is allowed to set its own interest rate on non-resident fixed
foreign currency account provided that the interest rate does not exceed
the prevailing LIBOR rate
4.2. Current Account
 It is operated by cheque book and/or pre-arranged procedure.
 Withdrawals can be made at any time by writing a cheque and/or a
prearranged procedure.
 It can be opened with an initial deposit of US Dollar 100 or its equivalent in
any of the above stated currencies.
 Interest shall not be paid to a non-resident foreign currency current
account

4.3. Non-Repairable Birr Account

 It is an account that may take the form of saving deposit that can be used
for local payments only.
 The transferred balance will be exchanged to local currency and deposited
to the account.
 Interest rate on such accounts shall be double of the minimum saving
deposit rate set by the National Bank of Ethiopia.
 Withdrawals in foreign currency shall not be made from such accounts

8
7. Digital Channels
Digital banking is the digitization (or moving online) of all the traditional banking activities
and programs that historically were only available to customers when physically inside of a
bank branch. This includes activities like:
 Money Deposits, Withdrawals, and Transfers
 Checking/Saving Account Management
 Applying for Financial Products
 Loan Management
 Bill Pay
 Account Services etc.
 Mobile Banking
 Refers to a mobile technology that can be used to the following tasks
 Balance Enquiry
 Mobile Card Recharge
 Money Transfer
 Withdraw cash
 Send Money  Payments
• School Fees
• Airlines E-Ticket
• DSTV & Others
 Exchange Rate Enquiry

 Agency Banking
In its most basic form, a retail outlet serving as an agent for the bank is a
transactional channel permitting the bank customers to deposit, as well as to perform
a range electronic transactions , including inquires on account balances or recent
movements and money transfers between accounts.
 Balance Enquiry
 Cash deposit
 Fund transfer
 Balance inquiry
 Mini statement
 Agent can also perform registration and account opening for potential customers.

 Card Banking Service

 Online (Internet Banking)
• Mob app + Web = Internet Banking
 ATM
 POS

9
8. International Banking Service

 Import
 Import by letter of Credit
 Import by cash against document
 Import by advance payment

 Export
 Export by letter of credit
 Export by cash against document and consignment for perishable items
 Export by advance payment
 Small Item Export

9. Credit Services/Loans & Advances/

A. Term Loan

A term loan may be granted to customers to be repaid within a predetermined period of time
with interest. The loan is paid in a lump sum on maturity, or in monthly, quarterly,
semiannual or annual instalments, or in any other convenient schedules depending on the
nature of the business and the cash flow capability of the borrower.
Awash Bank’s term loans are commonly classified as follows based on their maturity periods.

Term Loans Based on Tenure

1. Short Term Loan: - Short-term loans are loans, which are repayable within 12
months.
2. Medium Term Loan: - Medium term loans are loans, which are scheduled to be repaid
between 13 to 60 months (including) grace period.
3. Long Term Loan: - Long-term loans generally provided over a long-term period of 5
to 15 years at awash bank currently.
4. Temporary Term Loan: - Temporary term loan is a loan that is set to be paid back in
a short period, typically within six months, and extendable beyond six months in some
cases.
Term Loans Based on Purpose
Term loans are broadly classified in to two based on the purpose for which it is extended:
working capital and project financing.

1. Working Capital loan: - Working capital loans are short or medium term loans
primarily intended to address day-to-day operations of a business. It is normally a loan
funding immediate needs.

1
 2. Project Financing/Investment loan: - Project financing/investment loans are medium
or long term loans to be availed for the purpose of covering capital expenditures or
non-current assets which are presumed to cover costs of capital goods.

B. Overdraft Facility
An overdraft is a form of credit facility by which a customer is allowed to draw beyond the
deposits of its current accounts up to the allowed limit for the sole purpose of the day-to-day
operational working capital requirements. It is an open credit facility that doesn’t have pre-
established repayment program.

C. Special Overdraft to Exporters

The special overdraft may be granted to exporters with reputed integrity and strong financial
performance. It is granted for a maximum period of one year.

D. Temporary Overdraft Facility

Customers may face temporary liquidity problems until they are in a position to generate cash
from their business or make collections of receivables, and request the Bank for temporary
finance. Such requests for credit facilities are generally repayable within maximum period of
six months.

E. Overdraw from Overdraft or Current Accounts

These are facilities extended to customers who encounter seasonal or urgent working capital
needs and availed for a maximum period of six months.
Overdraw may be entertained provided the applicant is a highly valued customer of the Bank
and it would be satisfactory from the standpoint of security.

F. Merchandise Loan
A merchandise loan is a short-term credit facility collateralized by goods in store, warehouse
receipts, and import documents until the goods in transit are cleared and pledged.
Types of Merchandise Loans
1. Revolving Merchandise Loan
Revolving merchandise loan is a type of merchandise loan in which the borrower is allowed
to use up to the limit set by the Bank for a specific period of time on revolving basis.
2. One-time Merchandise Loan
A one-time Merchandise Loan is a credit facility whereby the loan contract remains enforce
only until the maturity period of the loan.
3. Merchandise Loans against Import Document/Transitory Merchandise
Awash Bank exceptionally avails merchandise loan against goods in transit supported by
import documents for its prominent customers
4. Merchandise Loans against Warehouse Receipt (Warehouse Receipt Financing)

1
 Warehouse receipt financing is a mechanism by which Awash Bank provides loans/advances
for members and clients of the ECX (Ethiopia Commodity Exchange) by pledging the
warehouse receipts issued in their names by the ECX.

G. Import Letters of Credit

A Letter of credit is a credit instrument issued by the bank at the request of importer
through which Awash Bank commits itself to a payment undertaking to an applicant
(importer) to pay the seller (exporter) a given amount of money in specific time limits,
the documents conforming to the terms and conditions agreed by the importer and
exporter.
Three types of Import Letters of Credit

1. Revolving Import Letter of Credit

Revolving Import Letter of Credit Facility is a form of credit facility where in the limit is
reviewed periodically when the customer fulfills the Bank's requirement.

2. One-Time Import Letter of Credit

A onetime import letter of credit is a non-renewable documentary credit extended to
customers/applicants, such as investors, importers that have no letter of credit facility or
who want to import over and above the existing letter of credit limit.

3. Advance against Import Bills

Committed Letters of Credit that the Bank has on its books may be settled by extending
an Advance on Import Bills facility.

H. Pre- Shipment Export Credit

It is a credit facility extended to exporters. It is granted to allow the exporter procure the
goods, process it if needed, and finally pack it for ultimate export.
It is a short-term advance that may run up to one year. The advance shall be liquidated
when the Bank negotiates the relevant export bills.
I. Post- Shipment Export Credit (Advance against Export Bills)
Post-shipment export credit is a facility extended to exporters, upon presentation of all
relevant export documents, except the original Bill of Lading, to bridge the gap between
the shipment of goods and the realization of proceeds.
J. Export Finance under Export Credit Guarantee Schemes
Export Credit Guarantee Scheme (ECGS) is the guarantee provided by the Development
Bank of Ethiopia (DBE), to safeguard export financing banks against losses arising from
export transactions financed by the banks under the ECGS coverage.
K. Letters of Guarantee
It is a written undertaking issued by the Bank to compensate (pay a sum of money) to the
beneficiary (local/foreign) in the event that the obligor fails to honor his/her/its
obligation in accordance with the terms and conditions of the agreement/contract.

Types Letters of Guarantee

1. Bid Bond Guarantee

1
 It is a guarantee issued by the Bank in favor of a beneficiary upon the request of a bidder
to pay a specific sum of money to the beneficiary in the event that the bidder withdraws
his/her/its bid during the validity period of the bid or fails to accept the award after
being declared winner.
2. Advance Payment Guarantee
Advance payment guarantee is issued to guarantee the sum of money paid to a
contractor/supplier in advance by the employer to assist fulfillment of a
construction/supply contract.
3. Performance Bond Guarantee
Performance bond is issued to guarantee satisfactory performance of a work under a
contract.
4. Retention Money Guarantee
Retention money guarantees are guarantees issued by the Bank in favor of the party
accepting to release the retention (beneficiary), upon the request of a seller or
contractor, to provide security to the beneficiary, should seller or the contractor fails to
perform his/her/its obligation as per the terms and conditions of the contract.
5. Customs Bond Guarantee
This is a guarantee issued by the Bank in favor of customs authority or related
organizations to meet the request of the beneficiary in respect of customs duties in
circumstances where goods are cleared without payment of customs duties at the time of
clearing the goods, to make the customs payment later within a specified period.
6. Suppliers' Credit Guarantee
This type of guarantee arise when a local customer enters into a purchase contract with
either a local or a foreign supplier agreeing to repay the purchase price, usually on an
installment basis over an agreed time.

L. Syndicate Financing
It is a form of agreement in which a number of banks or fund providers come undertake to
provide large credit facilities to a borrower, by pulling their financial resources, under
identical terms and conditions as evidenced by a single syndicated loan agreement to be
signed between the lead bank and the borrower. Syndicated loans are generally medium
and long-term credit facilities.
M. Loan Buy-Out
Loan buy-out involves the transfer of the whole outstanding loan balance of a customer
from other banks, by offering him/her/it with better services, credit package and/or loan
amount, etc.
N. Recruitment Agencies Overseas Special Scheme (RAOSS)
The product is meant to meet the licensing requirement of MOLSA, which is USD100,000
equivalent in Ethiopian Birr (currently) at the then prevailing exchange rate to be
maintained in a blocked account until such time the Ministry authorizes to release the fund.

Areas of Lending by Economic Sectors

Awash Bank participates in extending credit to all established economic sectors. The
economic sectors are generally comprised of Agriculture, industry, service clusters energy
and all other sectors.

1
 1. Agriculture Sector Loans
Lending to agriculture sector can be in the form of short, medium or long term
loans.
2. Manufacturing Loan
Awash Bank avails loans to facilitate manufacturing activities of small, medium and
large-scale industries.
3. Domestic Trade and Services Loan
Financing domestic trade helps in the smooth flow of goods and services in the
economy since it serves as an intermediary between producers and consumers.
4. Tourism and Hospitality
The tourism and hospitality industry involves provision of accommodation,
conference, food and beverage, catering, recreation centers, tour and travel and
cultural exposures.
5. Loans for International Trade
This loan category comprises both export and import related business activities.
Credit facilities for international trade like export loan and import loan.
6. Construction, Housing and Real Estate Loan
Loans granted for construction of residential (real estate) and commercial
buildings, road, dam, railway, airway, and purchase of construction machinery are
categorized under construction loan.
7. Transport Loan
Awash Bank provides loan to economic activities that involve rendering of transport
services.
8. Loan to Financial Institutions
Financial Institutions (including banks, microfinance institutions and insurance
companies) are organizations engaged in providing financial services to the various
sectors of the economy.
9. Loan for Purchase of Privatized Properties
This is a form of loan that is provided by Awash Bank to partially finance
acquisition of public enterprises auctioned by the Ministry of Public Enterprises.
10.Inter-Bank Lending
Awash Bank may engage in inter-bank lending to other banks as per the Regulatory
Authority’s Directive on the subject.
11.Loans for Sale of Foreclosed and Acquired Properties
Awash Bank may grant loans to facilitate disposal of both properties under
foreclosure proceeding and properties already acquired.
O. Personal Credit Facilities
Personal credit facilities may include Home loans, Auto Loans and Other consumer loans
financing for personal, family, or household purposes.
Personal loans (Housing, Auto and other Personal loans) are loans availed to individuals’
personal use only and not for business purposes.
However, diaspora loan package includes commercial building and Investment loans in
addition to personal loans.
Personal Loans are provided to various purposes such as

1
  Purchase , construction and / or renovation of residential buildings,
 Acquisition of brand new or secondhand motor vehicles for personal use and,
 For personal consumptions like acquisition of durable consumer goods such as furniture,
payment of education tuition fees, medical cost coverage or for any emergencies, and
for other similar personal uses.
 Consumer loans might be secured by the acquired fixed asset, personal guarantee,
blocked deposit accounts, or etc.

Depending on the package of the personal loan facilities (categories) and the type of loan; the
payment period of the loan, contribution by the borrower, and other characteristics of the
loan vary.
1. Special Credit Facilities for Diaspora Communities
Residential Home/Commercial Building Loan
Investment Project
Car loan (New or Used)
Personal Loan
2. Interest Free Banking Loan for Diaspora Community.
Residential Home /Commercial Building Loan
Investment Project
3. Credit Facilities for Employees Earning in Foreign Currency
This type of general consumer credit facilities are for employees of various companies and
institutions who earn their monthly salary in foreign currency, and may include employees/staff of;
 UN offices,
 AU,
 Staffs of inter-governmental organizations,
 Charities,
 Consultancy firms that provide their services to Int’l Organizations,  Many other firms
that are paid in foreign currency.
1. Residential Home
2. Car loan (New and Used)
3. Personal Loan
4. Credit Facility for Employee of NGOs & International Agencies
Staffs working in NGO and International Agencies whom the company has an account with AB.
1. Residential Home
2. Car loan (New and Used)
3. Personal Loan
5. Credit Facility for Big Local Currency Providers /Big Depositors/
Staffs working in big local currency providers whose the company daily average cash deposit
should register of 80 million and above.
This minimum average daily balance of Birr 80,000,000.00 shall be in its current account(s)
opened and maintained with any branch of the bank during the last one year.
Or must deposit this amount in a blocked account for the next one year.
1. Residential Home

1
 2. Car loan (New and Used)
3. Personal Loan

6. Credit Facility for Local Consumers

This shall mean customers that doesn’t fall in any of the previous types (individuals who can
be walk in customers).
1. Residential Home
2. Car loan (New and Used)
3. Personal Loan

11. Interest Free Banking Service IFB Products & services offered at Awash Bank
 FUND MOBILIZATION SCHEME
 Wadiah saving accounts
 Labbaik-Wadiah savings (For Hadji & Umrah),
 Wadiah Educational saving for students
 Wadiah current account (Amanah)
 Unrestricted Mudarabah Investment account, with more than 1,000,000 initial
deposit
& pre-agreed PSR between the Bank & the customer
 FUND UTILIZATION (FINANCING/LOAN) SCHEME
 Murabaha Financing scheme, (Cost + Mark-up)
 Ijarah Muntahia Bittemlik (IMB)- Financing Ijarah
 IFB Trade Services, (Murabaha, Musharakah and Wakalah L/C).
 Interest-Free Export Financing scheme (Qard) = Free Loans
 IFB Loans from the charity account (Qard) = Free Loans for the most needy person
 IFB Bank Guarantees (Kafalah – All types of Bank Guarantees parallel with the
Conventional Banking)
 All Service-based products parallel with the conventional banking one  Hawallah
(Hiwalah), etc.

12. Safe Deposit Box Service

 Safe Deposit Box
13. Physical Collection Money
 Cash Collection and Cash Payment Service
14. Balance Order
 Handling of Standing instruction