Product and Servies of Dashen bank

Classified in to four categories

1, conventional Banking

2, Digital Banking

3, Diaspora Banking

4, sharik interest free Banking

1. Conventional Banking

Deposit

A . Saving Account / Saving Deposit

It is a regular saving account which allows customers to deposit money, keep it safe, and
withdraw funds, all the while earning interest.

Product Features
 Safe and bears impressive interest Rate compounded every month on the minimum
balance of the month
  Passbook may or may not be issued depending on the customer’s interest
 No Minimum initial deposit
 Limitless deposit and withdrawal
 Free, convenient and limitless intra-bank transfer of funds (only local)
 25 birr Initial Deposit with no minimum and maximum deposit limit
 Can be withdrawn with Cash, ATM, POS, Account to Account transfer, Debit Card,
Standing instruction and internet and mobile transaction

B .Demand Deposit / Current Account / Checking account

It is an account from which money can be withdrawn without notice, typically an active account
catering for frequent deposits and withdrawals by Cheque.

Product Features
 Safe and bears no interest rate.
 No limit on transaction amounts.
 Free and limitless inter and intra-bank transfer of funds (only local).
 Free monthly account statement.
 ATM, POS, Payment Card, Internet & Mobile Banking Facility (for sole proprietors).
 Initial Deposit of 500 ETB is required to set up the account.
 Minimum deposit amount should not be zero balance for more than three months.
 No maximum Deposit and withdrawal limit.

C. Certificate of Deposit / Fixed Time Deposit

It is a typically higher interest-bearing deposit account that has a specified date of maturity, such
as a certificate of deposit (CD). The funds in time deposit must be held for the fixed term to
receive the agreed up on interest rate.

Product Features
 Higher interest rate than most savings accounts (interest payment will be on monthly
bases using simple interest rate).
 Withdrawals are not allowed until maturity.
 Fixed deposit certificate issued, which depositor has to produce at the time of maturity.
 Only one time deposit.
 Minimum deposit amount is set to be at least Birr 1,000,000.
 No maximum deposit limits.
 Minimum Maturity is 6 months with no maximum maturity limit.
 Offers advance interest payment upon opening the account.

D Other special deposit

Non Resident Transferable Birr account [NRT]

A non-interest bearing account opened and operated by cheque catering to expats (foreign
nationals/employees of international organizations [UN, AU, etc.]), NGOs, International
organizations, Embassies operating in Ethiopia.

Product Features
 The account is opened in an approved foreign currency.
 No interest rate.
 Kept/maintained in local currency.
 Can be operated by check.
 Deposits from local source is prohibited.
 Can be used for local and foreign transaction [transfer].
  No exchange commission is levied upon transfer to abroad.
 Can be used for travel allowances upon presenting valid travel documents.
 Initial Deposit USD 100.
 Minimum deposit amount FCY, No Limit.
 Maximum deposit amount FCY, No Limit.
 Withdrawal Limit FCY/ETB-No Limit.
 Withdrawal can be done through cash, cheque, Debit Card, internet and mobile Banking.

Non Resident Non-Transferable Birr account (NRNT)

A Non-Resident Saving account opened and operated by expats (immigrants) living in Ethiopia
in which the account is opened and credited in an approved foreign currency but is
kept/maintained in local currency and can only be used for local transaction.

Product Features
 Funds cannot be transferred abroad in FCY without obtaining permit from NBE.
 Account can credited from foreign sources through the banking system.
 The account is opened and credited in an approved foreign currency.
 The account is kept/maintained in local currency and can be used for local and foreign.
transaction [and transfer].
 Can be operated by check.
 Deposits from local source is prohibited.
 No interest rate.
 Initial Deposit FCY.
 Minimum deposit amount FCY, No Limit.
 Maximum deposit amount FCY, No Limit.
 Withdrawal Limit ETB-No Limit.
 Can be withdrawn through cash, account to account transfer, Debit Card internet and
mobile banking, standing instruction with no withdrawal limit.
 Foreign Exchange Retention Account A and B
Non-interest-bearing foreign currency current account which is maintained to credit the
proceeds of export made through the Bank to enable the customer use the hard currency
for import of goods related to the export business.

Product Features
 No check book is issued.
 Credit of FCY received from exporters through SWIFT.
 Regular remittance recipients can also open the account.
 Crediting from local source is prohibited.
 Easier access for import of goods without the need for waiting on queue.
 No exchange commission is levied upon foreign transfer.
 Deposit of foreign cash notes.
 It is not interest bearing account.
 Upon presentation of valid custom declaration.
 Hotels and other establishments upon presentation of renewed License issued by NBE.
 Deposit amount (ACT “A”): FCY 30% of the export proceed indefinitely.
 Deposit amount (ACT “B”): FCY 70% of the export proceed up to 28 days.
 Initial deposit: FCY, No Limit.
 Maximum deposit amount: No Limit
 Withdrawal Limit: No Limit
 To import goods/effect service payment related to the business

Student Account
A saving account opened and operated by prospective or current account holder applying seeking
to pursue his education by depositing his/her required contribution towards his/her tuition fee.
Product Features
 Bears average interest Rate annually paid on the excess deposit above his/her current.
contribution to the student loan.
 Issuance of free quarterly statement.
 No pass book.
 Attaches student loan.
 The deposit should be maintained at least for a year.
 ATM, POS, Payment Card, Internet and Mobile Banking Facility.
 Free, convenient and limitless intra-bank transfer of funds (only local).
 Initial deposit is set to be 100ETB.
 Can be withdrawn with cash, account to account transfer, internet and mobile banking,
standing instruction.

Special Youth Account

Savings account for children below 18 years of age, opened and operated by their parent
or guardian.

Product Features
 Bears impressive interest and pays bonus on the interest income.
 Bears additional interest income as bonus if account balance is >=500 and no withdrawal
is made within 12 months of a given fiscal year.
 Free, convenient and limitless intra-bank transfer of funds (only local).
 Help children learn to save and manage their money as they grow.
 Initial deposit is set to be 25ETB with no minimum and maximum deposit amount and no
withdrawal limit.
 Can be withdrawn through cash, account to account transfer, Debit Card internet and
mobile banking, standing instruction.

Women Saving Account

It is an account that earns a progressive interest rate depending on the deposit balance; the higher
the balance, the higher the interest rate would be.
Product Features
 Can be opened and operated by a single individual or jointly;
 Can be linked with alternate channel services such as Mobile Banking, Internet Banking
and Card Banking;
 Can be operated with or without passbook;
 Requires minimum initial deposit of Birr 50.00;
 Free, convenient and limitless intra-bank transfer of funds (only local);
 Pay progressive interest rate better than the regular saving account: the higher the deposit
balance, the higher the interest rate;
 Offer uniquely designed and branded debit card [e.g. YEShi-CAN] with various offers;
 Free of charge account statement report upon request;
 Account holders can open Modified Youth Saving for their children with zero balance;
 Free of charge standing instruction to their children’s Modified Youth Saving account;
 Withdrawal can be made over the counter, ATM and POS terminals;
 Interest rate varies based on the amount of deposit;

Premium Savings Account

Saving account that entitles customers a privilege for higher than normal saving interest rate with
additional banking service entitlements.

Product Features
 Operated with or without passbook
 No restrictions on withdrawal or deposit
 Can be opened and operated individually or jointly
 Opened with a minimum initial deposit of Birr 1,000
 Pays a progressive interest rate greater than the average interest rate, which rises with the
amount of account balance
 ATM, POS, Payment Card, Internet and Mobile Banking Facility
 Free, convenient and limitless intra-bank transfer of funds (only local)
 Can be withdrawn through cash, account to account transfer, Debit Card internet and
mobile banking, standing instruction

DB Star DB Prime DB Prime Plus

Impressive interest Interest greater than Interest greater than

rate DB Star DB star and DB prime

Priority in foreign Priority in foreign Priority in foreign

currency provision for currency provision for currency provision for
travel abroad travel abroad travel abroad

Dashen Branded Gold Dashen Branded

Amex Gold card
Debit card Platinum Debit card

Premium Customer ID
Gift Card Gift Card (Priority queuing in
banking services)

Privilege for Dedicated

Overdraft Privilege
Checkbook Relationship Manager

Privilege for
Checkbook
 Consumer loan

A Mortgage Loan
Is a term loan for Individuals (non-business) customers to finance the purchase/building of
residential house.
Product future

Amount range (Values)

Minimum loan amount Not set

Maximum loan amount 90% of the cost of the

house or construction
Features No additional collateral
required

Long repayment period

Customers allowed to
borrow up to 50% of their
salary capacity up on
consent

Preferential interest rate

for those generating FCY
for the Bank

Transaction Currency ETB

Re-Payment mode DB Prime ETB
 DB-Star FCY/ETB

Diaspora Diaspora
Maturity/Tenure DB-Prime (Employees with 20 years
FCY/export transactions)

DB-Star (Employees of
20 years
EOG with Diplomatic
Status)

Diaspora 20 years

Grace period No-grace period

B Car Loan
It is a personal term loan extended for individual customers to finance the purchase of personal
car.
Product Features

Amount range (Values) Maximum loan amount

(new car) 80%OF THE COST

Maximum loan amount 85%of the cost

(old car)
Target Customer Segments More caters to
the Retail Sub-Segment

DB-Prime (Employees of
 firms with FCY/export
transactions)

DB-Star (Employees of
EOG with Diplomatic
Status)

Diaspora

Features/Value Proposition No additional collateral

s required

Long repayment period

Customers allowed to
borrow up to 50% of their
salary capacity up on
consent.

Preferential interest rate

for those generating FCY
for the Bank.
Transaction Currency ETB
Re-Payment mode DB Prime ETB

DB-Star
FCY /ETB

Diaspora
FCY /ETB
Maturity/Tenure DB-Prime (Employees 5 years for old and 8
with FCY/export years for new cars
transactions)

DB-Star (Employees of 5 years for old and 8

EOG with Diplomatic years for new cars
Status)

Diaspora 5 years for old and 8

years for new cars

Grace period No-grace period

C Student Loan
A term loan granted for students of Ethiopian nationals who want to pursue their tertiary
education; including tuition fees, purchase of school materials and other expenses required to
complete the study.

Product Features

90% of
Amount range (Values) Maximum loan amount
the cost of

Initial deposit of Birr 50 and above

Stand-alone term loan product

At least 10% contribution by the student towards the total cost

Features
Maximum of 5 years repayment period [including grace period]

Co-signor, Personal guarantor, Provident Fund A/C or tangible

collateral accepted as security for the loan

No requirement for prior and mandatory savings

6 month grace period for repayment for unemployed

Special Benefit
Minimal contribution by students as low as 10% of the cost

Cost sharing settlement [as the case may be]

Maturity/Tenure Maximum of 5 years, including the grace period (if any)

Grace period Up to 6 months

D Personal Loan
It’s a personal loan for individual (non-business) customers to finance the purchase of household
equipment and home supplies.
Business Loan

A Working Capital Loan

A one-time business term loan for customers used to finance their temporary working capital
needs and/or meet other short term financial constraints of the business.
Product Features
 To finance the working capital expenditures or current assets
 The loan can be used to finance any operational activity
 Offered for a minimum of 3 months or maximum of 5 years
 Depending on the nature of the business and its cash flow pattern, the repayment can be
in monthly, quarterly, semiannually or at lump sum.
 Regular repayment amount should include principal and interest of the loan.
 Maturity: 5 years or less

B Overdraft Facility

A credit facility by which a customer may be allowed to withdraw beyond the available balance
of its current account to a prescribed limit
Product Features
 Help the customer bridge its short-term working capital constraints arising b/n receipt and
disbursement of funds
 Usually requires strong collateral in the form of building, cash & cash substitute
collaterals but exceptionally clean base or other collaterals may be considered for credit
worthy customers
 Interest on the facility shall be charged on monthly basis calculated on daily ending
balance
  Particular O/D account must show at least 5% of the approved limit [or credit balance]
during the year
 Outstanding balance of the facility should not exceed the approval limit unless there is
approval for overdraws.
 The customer shall submit a renewal request at least one month ahead of O/D facility
expiry date
 Payment Mode: Lump sum unstructured payments
 Maturity: Open facility with up to 12 months after date of approval


C Advance on Letter of Credit (Advance on L/C)

A short term credit instrument [usually a facility limit] issued by the Bank on behalf of the
importer to facilitate importation of goods against valid import documents. The Bank pays to the
seller [exporter] the specified amount at the specified date

Product Features
 Help create trust with the exporter and facilitate the importation of goods in to Ethiopia.
 The amount of facility and margin depends on financial strength & creditworthiness
 Used to facilitate receipt of the goods from customs office after fulfilling the custom
formalities
 The L/C facility could be advanced in a revolving basis, either simultaneously or in
sequence up to the approved limit
 The facility shall be reviewed and renewed every year by the approving committee
 Payment mode: lump sum
D Merchandise Loan
It is a short term credit facility that alleviate the problem of inadequate cash flow resulting from
working fund being tied up by the merchandise purchased for resale [locally or internationally]
or to be used as input for production.
Investment / Project Loan
Term Loan
Is a long term form of debt financing, which may be availed for real estate development and
project finance.

International Trade & Services

IMPORT /Export

Advance Payment Transfer

International trade service for small export transactions/Advance Payment L/C allows a special
drawing right to the seller to collect payment before presentation of shipping documents.

Documentary Letter of Credit / Banker’s Commercial Credit

A letter of credit (LC), also known as a documentary credit or banker’s commercial credit, or
letter of undertaking (LoU), is a payment mechanism used in international trade to provide a
guarantee from a credit worthy bank to an exporter. It is a commitment by a bank on behalf of
the importer (buyer) that payment will be made to the beneficiary (exporter) provided that the
terms and conditions stated in the LC been met, as evidenced by the presentation of specified
documents.
Cash Against Document (CAD) / Inward Bills for Collection(IBC) /
Documents against Payment (DP)

CAD: A payment arrangement in which an exporter instructs a bank to hand over shipping and
title documents to the importer when the importer fully pays the accompanying bill of exchange
or draft. Also called documents against payment.
DP: Documents against Payment (DP) A buyer is required to pay a seller’s sight draft in order to
obtain shipping documents. Payment is made on presentation of the sight draft by a bank to the
buyer, usually one or two weeks after shipment

Franco Valuta Permit

Is a license issued to importers of goods by Dashen bank on which no foreign currency is

payable from the bank (The foreign exchange comes from the customer’s own source).

Remittance

Outgoing Foreign Fund Transfer [SWIFT and TT]

An electronic transfer of funds to be made by instruction of our customers to beneficiaries in
foreign countries. Such transfers are payment of service (invisible), small amount on
correspondence education, for medical treatment abroad, subscription fee for magazines,
advertisements abroad, etc

Incoming Foreign Fund Transfer [SWIFT and TT]

An international electronic transfer of funds in a specific currency and amount to a friend,
relative, or company residing in Ethiopia through:
 SWIFT – DASHETAA
 WESTERN UNION
 MoneyGram
  Dahabshiil
 TRANSFAST
 WorldRemit
 XPRESS MONEY
 KAAH
 EzRemit
 Ria

Guarantee

Local Guarantee (One time and Facility)

Product Features
Advance payment guarantee: local letter of guarantee to be issued in favor of the employer for
advancing a certain sum of money to the employee [our customer] to facilitate the execution of
the contract of work. The Bank’s liability is limited to the amount of the advance not used
Dashen Bank SC being measured as the advance amount less value of work done to date of the
claim within the validity date of the guarantee.
Contract performance guarantee: local letter of guarantee to be issued in favor of the
employer to ensure that the specifications, terms and conditions are fully featured in the
execution of the work as stated and stipulated in the contract of work. Our liability is limited to
consequential costs caused by deviations from the original specification or by negligence to
reinforce the terms and conditions in the execution of work.
Retention guarantee: local letter of guarantee to be issued in favor of the employer to protect its
interest due from the employee until certificate of full delivery of the object of the contract of
work is signed off.
Supply guarantee: local letter of guarantee to be issued in favor of a supplier to ensure that the
buyer [our customer] will effect full payment after supply or commissioning of the work by the
supplier as per the contract of work.
Order guarantee: local letter of guarantee to be issued in favor of a seller [manufacturer,
wholesaler or distributer] to ensure that the buyer [Dashen’s customer] will buy the goods and
services and effect payment as per the purchase order.
Lease payment guarantee: local letter of guarantee to be issued in favor of the lessor to ensure
that the lessee will effect periodical installment payments within the lease period as per their
lease agreements contracts.
Credit service guarantee: local letter of guarantee to be issued in favor of the service provider
[garage, hospitals and the likes] for rendering the service to their potential clients [our customer]
based on differed mode of payment.
Credit sales guarantee: local letter of guarantee to be issued in favor of a manufacturer or
wholesaler for establishing credit line to a distributer or retailer based on differed mode of
payment where the buyer is expected to process settlement of account payables after sale of the
purchased goods and then the credit line revolves
Custom bond guarantee: local letter of guarantee to be issued in favor of Ethiopian revenue
and customs authority for clearing imported goods to importers or manufacturers [our customers]
based on differed mode of customs duty and tax payments.

International [Foreign] Guarantee

Bond or payment undertaking given in writing by the Bank at the request or on the instruction of
a customer and under liability or a principal to discharge an obligation otherwise to compensate
as per the terms and conditions.
Product Features
Repayment Guarantee: The purpose of such guarantee is to ensure the beneficiary of the
guarantee for repayment or compensation of an amount advanced to the principal. The
repayment may be expected at a certain date and at one go or at different dates on installment
basis. Such guarantee will cover the total value of the advanced amount to the principal of the
guarantee plus interest in almost all cases.
Advance Payment Guarantee: When a supplier or contractor requires advance payment from
employer to supply commodities or to perform other obligation(s), the latter (to be beneficiary of
the guarantee) may require an advance payment guarantee to protect non-performance of
obligation from the side of the former (to be principal of a guarantee). Such guarantee will cover,
in almost all the cases, the total value of the advanced amount to the principal of the guarantee
for refund to beneficiary of the guarantee.
Bid Bond (Guarantee): An individual or a firm who participates in a bid may be requested to
present a bid bond for enforcement of signing the major contract up on winning the bid or to
compensate the bidder upon failing to do so. This kind of guarantee will cover a certain
percentage
of the bid amount e.g. 10% (which will be returned to participator of the bid in the case of failure
to win the bid).
Performance Guarantee: The principal in such guarantee will undertake to perform an
obligation to the beneficiary. If the principal fails to discharge obligation, the beneficiary will be
entitled to claim the guarantee amount to cover loss or damage sustained due to such failure,
which may be a certain percentage of the main contract value between the two parties. There is a
possibility that such guarantee may cover even the full contract value.

2 sharik interests free banking

Wadi’ah Saving Account

Wadi’ah Deposit trust agreement where the Bank accepts deposit from its customers looking for
safe custody of their funds & degree of convenience in their use

Product Features
 Safe custody
 Non-profit and loss bearing deposit
 Minimum opening deposit
 Limitless deposit and withdrawal
 Operated by passbook
 ATM/POS , Debit card, Internet and mobile banking facility
 The Bank may at its own discretion give Hibah (monetary or in kind) for the customers
 Free, convenient and limitless intra-bank transfer of funds (only local)
 Initial Deposit ETB 25 with no minimum deposit and withdrawal limit
 Can be withdrawn with Cash, ATM, POS, Account to Account transfer, Debit Card,
Standing instruction and internet and mobile transaction
 Qard Current Account
The Current Account product, offered based on the contract of Qard, shall allow current account
holders ready access to their money placed with the Bank.

Product Features
 Safe custody
 The customer does not share any loss or profit with the Bank
 Cheque book facility is available to provide ease of withdrawal
 High Transaction Amounts
 Free and limitless inter and intra-bank transfer of funds (only local)
 Free monthly account statement
 Individual account holders are entitled to debit card, Internet and mobile banking facility
 Initial Deposit ETB 100 with no minimum or maximum deposit and withdrawal limit
 Can be withdrawn with Cash, ATM, POS, Account to Account transfer, Debit Card,
Standing instruction and internet and mobile transaction

Mudarabah Saving Account

Customer Target Group

 Individuals who are 18 years of age and above
 Legal persons [sole proprietors, MSM enterprises, corporates, associations, partnership,
etc.]

Product Features / Value Propositions

 Shall be opened with a minimum initial deposit of Birr 500
 Shall be operated with or without passbook
 Shall be backed by Mudarabah contractual agreement
 Shall have no specific maturity period
 Shall have no restrictions both on the amount and frequency of withdrawal
 Shall be opened and operated individually or jointly]
 Small account balance [i.e., as low as Birr 5,000] requirement for PLS eligibility
 Offer a minimum PSR of 60:40 [60% for the Bank and 40% for the Customer]
 Consideration for value through progressive weightage for deposit
  PLS calculated on the monthly average balance; provided the average balance is stable
for at least 15 days in a given month.
 Convenient banking made possible via Sharik Card and/or Amex Gold Card and Amole
Wallet while earning profit
 Profit paid within the next 15-days after the lapse of the Month

Mudarabah Investment Account

Customer Target Group

 Individuals who are 18 years of age and above
 Legal persons [sole proprietors, MSM enterprises, corporates, associations, partnership,
etc.]

Product Features / Value Propositions

 Shall be opened and operated individually or jointly
 Shall be opened with a minimum initial investment fund of Birr 50,000
 Shall be issued Certificate of Investment Fund
 Shall be backed by Mudarabah contractual agreement
 Offer flexible investment period [a minimum of 6-months and maximum of 24 months)
 Shall have restrictions on withdrawal but when the customer opts, it/she/he can do so as
per the terms and conditions to that effect [i.e., early withdrawal]
 Offer progressive PSR in Tenure and value, minimum of 40:60 [40% for the Bank and
60% for the Customer]
 Consideration for tenure and value of deposit and investment through progressive
weightage
 Certificate of Investment Fund can serve as collateral
 Low investment fund [i.e., as low as Birr 50,000]
 Profit paid immediately after maturity
 Flexibility of initial investment fund renewal
 Auto renewal of the initial investment fund or inclusive of profit depending on the
request of the customer
Financing

Murabaha Financing – Working Capital

A financing arrangement for IFB customers for the purpose of financing current assets and aims
at securing adequate liquidity position of the business entity.

Product Features
 The customer should be engaged in Shari’ah compliant business [Halal Business]
 Meet business’s working capital and immediate financial shortage
 Offered for the maximum tenure of three years or less
 Depending on the nature of the business and its cash flow pattern, the repayment can be
in monthly, quarterly, semiannually or at lump sum.
 Regular repayment amount should include principal and profit mark-up.

Murabaha Financing – Investment

A financing arrangement for IFB customers for the purpose of acquiring moveable and
immovable properties aimed at supporting the investment needs of customers, which is offered
with different modalities

Product Features
 The customer should be engaged in Shari’ah compliant business [Halal Business]
 Meet business’s needs for acquiring moveable properties
 Offered for the maximum tenure of five years or less
 Depending on the nature of the business and its cash flow pattern, the repayment can be
in monthly, quarterly, semiannually or at lump sum.
 Regular repayment amount should include principal and profit mark-up.
  Maturity: up to 5 years

Qard Pre-shipment Export Financing

A Financing arrangement for exporters which is extended to help them utilize the facility to
finance the purchase, processing, manufacturing or packing of goods meant for overseas market.

Product Features
 Except for the terms and conditions that are not applicable to IFB, it is the same as the
Export pre- shipment financing scheme in the Conventional Banking
 The facility is granted on the strength of bona fide [real, genuine] sales contract or export
L/C opened in favor of the exporter or
 Could be availed in the form of secured/unsecured financing or lines of credit
 Enable exporters discharge their commitment by utilizing the advance for operating
expenses related to the exporting activity
 Each advance shall be settled from the proceeds of the corresponding export L/C
 Maturity 4 month with a possibility of three month extension upon presenting acceptable
reasons.

Digital Banking

VISA Card
Features of the product
 Withdraw up to 10,000.00 Birr per day per card subject to the balance in your account.
 Purchase goods or services up to Birr 8,000.00 per day per card at any of the Dashen
Bank merchants

Dashen American Express Gold Debit Card

The Dashen American Express Gold Debit Card allows you to enjoy special daily transaction
limits. In addition, you can make cash withdrawals at Dashen Area Banks as well as ATM
locations.
 Special daily transaction limits of up to ETB 500,000.00 per day at merchant locations
  Withdraw cash of up to ETB 50,000.00 per day at Dashen Area Banks
 Withdraw cash of up to ETB 30,000.00 per day at ATM locations
 Enjoy special offers and discounts at selected merchants locally when paying with your
Dashen American Express Gold Debit Card
Dashen American Express Green Debit Card
The Dashen American Express Green Debit Card allows you to enjoy special daily transaction
limits. In addition, you can make cash withdrawals at Dashen Area Banks as well as ATM
locations.
 Special daily transaction limits of up to ETB 300,000.00 per day at merchant locations
 Withdraw cash of up to ETB 25,000.00 per day at Dashen Area Banks
 Withdraw cash of up to ETB 15,000.00 per day at ATM locations
 Enjoy special offers and discounts at selected merchants locally when paying with your
Dashen American Express Green Debit Card

Sharik Cards (IFB cards)

Features of the product
 Withdraw up to 10,000.00 Birr per day per card subject to the balance in your
account.
 Purchase goods or services up to Birr 8,000.00 per day per card at any of the
Dashen Bank merchants.

Diaspora Banking
Diaspora Non-Repatriable Saving Account
High interest earning saving account maintained in ETB in which Ethiopian diasporas open and
credit with approved foreign currency from abroad. The deposit can only debited in local
currency and can’t be converted back to a foreign currency.

Product Features
 Safe
 Bears very high interest rate [14%]
  Converted into ETB at the prevailing exchange rate
 Operated through passbook
 Limitless intra-bank transfer of funds
 Serve as collateral or guarantee for loans or bids
 Crediting from local source is prohibited
 Make local payments in Birr
 Initial Deposit : USD 100
 Minimum deposit amount : USD 100
 Maximum deposit amount : No Restriction
 Withdrawal Limit : No Limit
 Can be withdrawn through cash, account to account transfer, Debit Card internet and
mobile banking, standing instruction with no withdrawal limit


Diaspora Demand / Current Account

Diaspora Demand / Current Account

A Foreign Currency account for Ethiopian Diaspora, from which money may be withdrawn
without notice. It’s typically an active account catering for frequent deposits and withdrawals by
Cheque (for MSME).

Product Features
 Safe
 Bears no interest rate
 Effect transfers abroad/make foreign payments, such as import and other foreign service
payments
 Convert into a Birr account at the prevailing exchange rate for local payment
 Limitless inter and intra-bank transfer of funds
 Serve as collateral or guarantee for loans or bids.
 Make local payments in Birr
 Free monthly account statement
 Initial Deposit : USD 100
  Minimum deposit amount : USD 100
 Maximum deposit amount : Not Restricted
 Withdrawal Limit : Not Restricted
 Can be withdrawn through cash, account to account transfer, Debit Card internet and
mobile banking, standing instruction with no withdrawal limit

Diaspora Fixed Time Deposit

High interest earning, time blocked, FCY denominated saving account for Ethiopian Diasporas.
The deposit is opened, operated and the principal amount can be repatriated back in to a foreign
country after the maturity period by the customer.

Product Features
 Safe
 Bears interest rate
 Crediting from local source is prohibited
 Serve as collateral or guarantee for loans or bids
 Can be repatriated to abroad after maturity
 Initial Deposit : USD 5,000
 Minimum deposit amount : USD 5,000
 Maximum deposit amount : No Limit
 Withdrawal Limit : Not Allowed
 Withdrawal can be made through cash

Diaspora Wadi’ah Saving Account

An FCY denominated trust agreement where the Bank accepts deposit from its Diaspora
customers looking for safe custody of their funds & degree of convenience in their use.

Product Features
 Safe custody
 Non profit and loss bearing deposit
  A non-repatriate Birr saving account that can be used for local payments only
 Limitless deposit and withdrawal
 Operated by passbook
 ATM/POS , Debit card, Internet and mobile banking facility
 The Bank may at its own discretion give Hibah (monetary or in kind) for the customers
 Free, convenient and limitless intra-bank transfer of funds (only local)
 Initial Deposit USB 100 with no minimum deposit and withdrawal limit
 Withdrawal can be done thorough Cash/ Account to Account Transfer, Debit Card,
Internet/Mobile banking

International [Foreign] Guarantee

International [Foreign] Guarantee
Bond or payment undertaking given in writing by the Bank at the request or on the instruction of
a customer and under liability or a principal to discharge an obligation otherwise to compensate
as per the terms and conditions.
Product Features

Repayment Guarantee: The purpose of such guarantee is to ensure the beneficiary of the
guarantee for repayment or compensation of an amount advanced to the principal. The
repayment may be expected at a certain date and at one go or at different dates on installment
basis. Such guarantee will cover the total value of the advanced amount to the principal of the
guarantee plus interest in almost all cases.
Advance Payment Guarantee: When a supplier or contractor requires advance payment from
employer to supply commodities or to perform other obligation(s), the latter (to be beneficiary of
the guarantee) may require an advance payment guarantee to protect non-performance of
obligation from the side of the former (to be principal of a guarantee). Such guarantee will cover,
in almost all the cases, the total value of the advanced amount to the principal of the guarantee
for refund to beneficiary of the guarantee.
Bid Bond (Guarantee): An individual or a firm who participates in a bid may be requested to
present a bid bond for enforcement of signing the major contract up on winning the bid or to
compensate the bidder upon failing to do so. This kind of guarantee will cover a certain
percentage
of the bid amount e.g. 10% (which will be returned to participator of the bid in the case of failure
to win the bid).
Performance Guarantee: The principal in such guarantee will undertake to perform an
obligation to the beneficiary. If the principal fails to discharge obligation, the beneficiary will be
entitled to claim the guarantee amount to cover loss or damage sustained due to such failure,
which may be a certain percentage of the main contract value between the two parties. There is a
possibility that such guarantee may cover even the full contract value.
Local Guarantee (One time and Facility)

Local Guarantee (One time and Facility)

Non-revolving Off-Balance sheet credit

Product Features

Advance payment guarantee: local letter of guarantee to be issued in favor of the employer for
advancing a certain sum of money to the employee [our customer] to facilitate the execution of
the contract of work. The Bank’s liability is limited to the amount of the advance not used
Dashen Bank SC being measured as the advance amount less value of work done to date of the
claim within the validity date of the guarantee.
Contract performance guarantee: local letter of guarantee to be issued in favor of the
employer to ensure that the specifications, terms and conditions are fully featured in the
execution of the work as stated and stipulated in the contract of work. Our liability is limited to
consequential costs caused by deviations from the original specification or by negligence to
reinforce the terms and conditions in the execution of work.
Retention guarantee: local letter of guarantee to be issued in favor of the employer to protect its
interest due from the employee until certificate of full delivery of the object of the contract of
work is signed off.
Supply guarantee: local letter of guarantee to be issued in favor of a supplier to ensure that the
buyer [our customer] will effect full payment after supply or commissioning of the work by the
supplier as per the contract of work.
Order guarantee: local letter of guarantee to be issued in favor of a seller [manufacturer,
wholesaler or distributer] to ensure that the buyer [Dashen’s customer] will buy the goods and
services and effect payment as per the purchase order.
Lease payment guarantee: local letter of guarantee to be issued in favor of the lessor to ensure
that the lessee will effect periodical installment payments within the lease period as per their
lease agreements contracts.
Credit service guarantee: local letter of guarantee to be issued in favor of the service provider
[garage, hospitals and the likes] for rendering the service to their potential clients [our customer]
based on differed mode of payment.
Credit sales guarantee: local letter of guarantee to be issued in favor of a manufacturer or
wholesaler for establishing credit line to a distributer or retailer based on differed mode of
payment where the buyer is expected to process settlement of account payables after sale of the
purchased goods and then the credit line revolves
Custom bond guarantee: local letter of guarantee to be issued in favor of Ethiopian revenue
and customs authority for clearing imported goods to importers or manufacturers [our customers]
based on differed mode of customs duty and tax payments.