International banking

International Banking

International Banking Services

Nib International Bank provides full-fledged International Banking Services. The major areas of the services include:

  • Import and Export L/C;
  • Documentary Collection;
  • Advance Payments;
  • Opening of non-resident accounts;
  • Buying and Selling of Foreign Currency and Travelers Cheque;
  • Handling of money transfers from abroad via International money transfer agents working with the Bank, including: Trans-fast, Dahabshiil, Money Gram, Western Union, Express Money, Golden Money Transfer and Ria;
  • Handling and balancing of Correspondent Bank and money transfer agency accounts; and
  • Attracting and retaining of Import Customers and Correspondent Banks.

General condition for the approval of export permits:

  • No export application shall be issued prior to submission of a valid trade licenses for foreign trade, investment or industry;
  • Permits to export coffee shall only be authorized by NBE;
  • Export permits shall be valid for 30 days from the date of issue;
  • The under listed goods shall not be approved for export unless specifically enumerated in the exporter’;
  • Forest products;
  • Wild animals and bird;
  • Minerals and
  • Other good for which a certificate of competence must be obtained from the pertinent government institution in order to prevent damage to the public health, safety and the national economy.
General requirement for the export permits

  • Valid trade license for export;
  • Tax identification number (TIN) certificate;
  • A copy of sales contract;
  • A copy of authenticated letter of credit;
  • Three copies of invoices;
  • One set of export application;
  • Evidence of foreign currency receipt of Banks or valid foreign currency cash receipt together with customs declaration, if the export is against Advance Payment;
  • Undertaking letter stating the exporter’s obligation to repatriate full amount of the export proceeds in foreign exchange, if export by cash against Documents and
  • Consignment shall be applicable to perishable goods such as fruits, cut flowers, meat, live animals, molasses and undertaking letter for repatriation of export proceeds, if the export on consignment basis.
General condition for the approval of import permits

  • An importer cannot import the under listed good unless specifically indicated in the trade license;
  • Coffee, pharmaceuticals or veterinary medicines, medical appliances, forestry products, wild animals and birds, agricultural, industry, construction machinery, motor vehicles, minerals, chemicals, petroleum and other goods for which a certificate of competence must be obtained from the pertinent government institution, in order to prevent damage to public health, safty and the national economy;
  • No foreign exchange permits shall be approved for importation of used clothing and other items included in the customs negative lis;
  • The FOB value of used vehicles, machinery, equipment’s etc shall not exceed the maximum depreciated value of service year as per NBE Directive;
  • All goods to be imported by sea into Ethiopia shall be carried by Ethiopian Shipping Lines unless otherwise exempted;
  • Bill of Lading shall be made out of the order of the Commercial Banks operating in Ethiopia or the issuing Banks and
  • Import permit require validity date.