FXD/68/2020 Foreign Currency Saving Account for Residents of Ethiopia, Non-Resident Ethiopian and Non- Resident Ethiopian Origin

The National Bank of Ethiopia has issued Directive No. FXD/68/2020, which allows residents of Ethiopia, non-resident Ethiopians, and non-resident Ethiopians of origin to open foreign currency saving accounts with banks in Ethiopia. The directive outlines the eligibility criteria, account opening procedures, and rules for operating these accounts, including permitted currencies, interest rates, and uses of the account, with the aim of encouraging foreign exchange inflows and supporting the country's international reserve and balance of payments.