Zemen Bank’s International Banking Department would offer customized and state-of-the-art products. At Zemen Bank, you would find innovative, custom-engineered trade finance products and services that meet your requirements in import and export.

Letters of Credit (L/C)

We offer an Array of letter of credit products such as: Irrevocable and confirmed Letters of credit, stand by Letters of Credits for both import and export with excelling service and technology. Zemen Bank is your choice if letter of credit is vital part of your international business.

Using our Zemen Super Trade Services would enable our customers to utilize to a wide range of trade financing schemes as:

Export l/c Financing

• Export Finance whereby we offer: pre and post shipment financing
• Export Guarantee schemes
• Export Insurance Scheme

Import L/C Financing:

• L/C on-Credit : at a competitive lines of credits or deposit margins
• Shipping Guarantee for missing B/L
• Automated L/C for both Import and Import l/c with electronic processing and advice

Documentary Collection

Zemen Bank, offers its customers with Standard and customized collection services for both import and export needs of its customers. We facilitate for both Sight and Acceptance collection.

• Inward Documentary collection: Enables its customers benefit from efficient processing of import Collection / Cash Against Documents at sight
• Outward Documentary Collection: Benefits Zemen Bank Customers in timely bill payments for exporters.

Franco Valuta Imports

Zemen Bank Facilitates Franco Valuta import (import with own source of foreign exchange) services to Embassies, International organizations, donors and other eligible customer groups.

International Wires and Transfer Payments

With Zemen Bank’s wire services you would benefit instant receipt of foreign remittances such as family remittances, grants, contributions, service payments, business remittances, etc. We also handle your outward transfers the quickest you could imagine. Choosing Zemen would benefit you enjoy our following products:

• Money-In-minute : where you would receive your incoming transfers and wires instantly
• Instant Multi–Currency Transfer: Outgoing Foreign Transfer Services for Your personal and business transfers to almost any where in the world via our vast network of first class international banks

Foreign Exchange Services

Zemen Bank is your choice for any foreign Currency exchange. We accommodate multi-currency exchanges via our:

• Money Changer: we buy and sell major convertible currencies including travelers’ cheques over the counter.
• Accommodation Exchange: We offer accommodation exchanges for big institutions of sizable transaction volumes at your premises at request

Cheque Services

Instant Cheque Payment
The bank purchases clean foreign cheques such as travelers’ cheques, drafts, international money orders, treasury cheques, certified cheques commercial cheques and other internationally accepted payment instruments. Personal Cheques drawn on overseas accounts are also cleared speedily on behalf of our customers.

Foreign Drafts
Foreign Draft is a pay order issued by a bank drawn on its correspondent bank to pay beneficiaries residing abroad up on presentation of the necessary documents.

Non-Resident Accounts

It is an account opened for eligible non – residents to facilitate the payments (both in local and foreign currency) by the international community and the diplomatic missions, foreign business community, individuals, international organizations and their employees. This account is non-interest-bearing checking account.
The major types of non-resident accounts accommodated at Zemen Bank are the following:

NON-RESIDENT FOREIGN CURRENCY ACCOUNTS (NR-FCY A/C)
The balance in this account is kept in foreign currency. A deposit to such account can be made from a transfer in hard currency, travelers checks, foreign cash notes, and a check drawn on a non- resident account. Holders of this account could draw foreign currency for travel purposes for their expatriate missions, transfers abroad, etc. A payment in Birr from this account is also possible.

Non-Resident Non-TransferaE BIRR (NR-T BIRR A/C)
This account has same features and use as NR-FCY A/C except that it is denominated in Birr (local currency). It is possible to make payment in foreign currency for travel and other payments on the basis of supporting documents.

Non-Resident Non-Transferable BIRR Accounts (NR-NT BIRR A/C)
This is an account intended to facilitate payments locally in Birr and a foreign exchange permit should be obtained to make transfers in favor of beneficiaries residing abroad.

Non-ResidentT Accounts For Ethiopians In Diaspora
This account is designed for Ethiopians and those of Ethiopian origin in Diaspora who deposit in foreign currency either in person or through authenticated means of communication from their places of domicile.

The deposit could be either in Current Accounts or Fixed Time Deposits (interest bearing) in major convertible currencies.

Foreign Guarantee Services

Bank Guarantee is a facility when Zemen Bank undertakes to pay an agreed sum if the customer fails or defaults in fulfilling his business obligation to a third party under the terms and conditions of the guarantee. Banking with us will benefit you effectively use the following types of foreign guarantees issued by Zemen Bank (Direct or Indirect):-

Tender/Bid Bond Guarantees
It is issued by the Bank upon the request by the bidder expressing the Bank’s commitment to meeting the claim of the beneficiary in case the bidder withdraws from the bid during the bid period or fails to accept the award when he/she is declared a winner.

Performance Guarantees
Performance Bond Guarantee is issued by the Zemen Bank in order to secure any claims by the buyer (beneficiary) on the seller from default in delivery or non-performance of its contractual obligations.

Advance Payment Guarantees:
With this guarantee Zemen Bank secures the claims of buyers for their claims of advances made to their sellers.

Customs Guarantees
Facilitated for Zemen Bank Customers in relation with your customs clearance of merchandises brought in to Ethiopia foe Exhibition/Trade Fair, Sample for Testing and Demonstration.