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Archives: FAQs
FAQ
Which accounts can I access through this service?
All the accounts assigned to your customer ID number. Current accounts Savings accounts Credit card accounts Loan accounts Investment accounts (fixed deposits, call deposits accounts)
FAQ
What is the currency to open IFB Diaspora account?
Customers can open accounts using: US Dollar, Pound Sterling and/or Euro.
FAQ
What document should I fulfill to borrow Diaspora Finance?
A Diaspora saving account Copy of valid passport Letter of undertaking to repay the loan in foreign currency Ethiopian Original ID card (Yellow Card copy) A letter that confirms monthly salary The authenticated sales contract agreement, Should have defined and sustainable source of income. Other documents as necessary.
FAQ
What conditions should be fulfilled for International/Non-Governmental organizations Consumer and Mortgage Finance?
Eligible Organization should open FCY account at BOA Shall have depository relationship with BOA or Proven FCY earning prospect for newly recruited, Shall open Salary account of its employee in the Bank, Provident fund account shall be opened and operated through BOA Shall sign Memorandum of understanding (MOU) with BOA, and Other conditions as required
FAQ
Who becomes a Personal Guarantor?
Any one by considering guarantor’s financial standing and integrity. Other than cross-guarantee, chain guarantee, and personal guarantee among the family members.
FAQ
What properties can be considered as collateral?
Buildings, Motor vehicles, Machinery and equipment, Cash Deposits, Merchandise, Foreign Bank Guarantee; Business Mortgage, Land Lease Right and/or Coffee Plantation Other forms of collateral such as; Export Credit Guarantees, Personal Guarantee, Corporate Guarantee, Valid Import/Export Document, Letter of Comfort