All staff should create an account with Nib bank by 15 December.  The branch is now open!  Please be sure to review the email below to be sure you bring the right documents with you to open your account.

For staff who are Ethiopian citizens

Staff who are Ethiopian citizens are required to open a savings account with Nib bank.  The account for each staff will be created ahead of time based on a list provided by ILRI.   However, the account will be activated when the following requirements are fulfilled or presented to the bank by each individual staff.

• Copy of a valid ID  (driver’s license, military ID, Kebele ID, passport, employing organization’s ID)
• Two  passport-sized photos
• Completed savings account application form Nib savings account opening
• Signature specimen

To add a spouse on the account, they must also complete form A and provide the requirements listed above.

For staff who are not Ethiopian citizens

Staff who are not citizens of Ethiopia will open a non-resident transferable birr account (also referred to as NRT birr account).   The account for each staff will be created ahead of time based on a list provided by ILRI.   However, the account will be activated when the following requirements are fulfilled or presented to the bank by each individual staff.

• Copy of valid passport and work permit/residence permit
• Completed account opening application form. Nib non-resident transferable Birr account opening
• Two passport sized photo
• Signature specimen

To add a spouse who is not an Ethiopia citizen on the account, they must also complete form B and provide the requirements listed above.

 Important points regarding non-resident transferable Birr accounts for non-Ethiopian citizens

 CREDITS/DEPOSITS for non-resident transferable Birr accounts

• Credits or deposits to these accounts are only allowed from sources abroad in foreign currency, and from some foreign currency or NRT accounts at Nib International Bank (such as ILRI’s account with Nib).
• Transfers of foreign currency to the NRT account can be done by SWIFT/wire transfers from foreign banks.
• You may also deposit foreign currency cash notes (such as USD or Euro cash) which have been declared at customs at the time of entering the country (airports or borders).  Such cash deposits must be supported by customs declaration documentation.
• You may also receive foreign currency into your NRT birr account from foreign remittance service providers such as Western Union.
• When foreign exchange is deposited, it is retained in the account in ETB according to the value on its date of deposit.
• Credits or deposits in Ethiopian birr are not allowed (such as from domestic accounts or by ETB cash notes)

Withdrawals for non-resident transferable Birr accounts

• Withdrawals in ETB can be made from the account by foreign payment cards (like an ATM card) or physical withdrawal at the bank branch.
• Payments can be made in foreign currency to countries outside of Ethiopia.   When payments are made in foreign currency from an NRT account, Nib International Bank’s prevailing selling rate will be applied at the time the payments is made.   See http://www.nibbanksc.com/ for current rates.
• Transfers from NRT accounts to foreign countries do not require permit approval.  However, payments for imports require import permit approvals.
• Cash withdrawals in foreign currency are not allowed from NRT accounts except for travel.    To withdraw foreign currency for travel, the account holder should present his/her air ticket and passport.  For business travel, ILRI finance will provide the traveler with a letter.  ILRI staff will still need to show their ticket and passport.

Other services

The Nib Bank provides ATM, mobile and Internet banking services for these accounts. If staff want to use these services, request can be made by using the relevant forms Nib ATM card application, Nib mobile banking application, Nib personal internet banking application    For the ATM application, those who do not understand Amharic only need to fill out page 3 of the ATM application form C.   To learn about other account types (such as current, joint, special or foreign currency account) and other services provided by Nib International Bank, please feel free to visit their new ILRI branch once it is open.

For questions, please contact Benyam Befirdu.

Gail Amare | Head of Administration, Ethiopia