Awash International Bank provides full-fledged international banking services, including facilitation of import and export transactions, handling inward and outward money transfer services, purchase and sell of foreign currencies, and providing deposit services in hard currencies.
● Export and Import Services
► Export Letter of Credit
An export letter of credit refers to a foreign bank undertaking issued on behalf of foreign importer. The issuing bank specifies all the requirements of its customer in the letter of credit and undertakes to honor all drafts drawn in conformity to the credit terms and conditions.
► Import Letter of Credit
A letter of credit is a commitment by the bank to pay the seller of goods or services of a certain sum provided the seller presents the documents specified in the terms of the credit.
► Documentary Collection
Documentary Collection is a method by which a seller presents documents covering shipment of goods for collection of payment through a buyers bank. Collection of payment totally depends on the buyers to take up the documents.
► Advance Payments
Where that buyer parts with money first and waits for the seller to forward the goods/services at a later date. The amount transferred is limited for imports using this payment method, Read More
Documents required for foreign exchange approval
● Purchase and Sell of Foreign Currency
Awash International Bank buys and sales major convertible currencies, travelers’ cheques and buys clean foreign personal cheques.
► Non-Resident Accounts, these types of accounts are opened for eligible non-residents of Ethiopia to facilitate payments by the international community, foreign business community, individuals, international organizations and their employees.