Localize your currency  

 Funnel your foreign currency through BoA and get diversified products and services 

Foreign currency accounts may be established by eligible individuals and entities upon the fulfilment of the requirements applicable for specific accounts.

• Based on the new NBE Directive FXD/01/2024 the following three categories of Foreign Currency Accounts are authorized by the NBE:

1. Foreign currency accounts for Foreign Entities;

2. Foreign currency accounts for Resident and Non-Resident Ethiopians, including for Non-Resident Foreign Nationals of Ethiopian Origin;

3. Retention Accounts for exporters of goods & services

It is an account for foreign entities. The following eligible foreign entities can open and operate this account:

•        FDI Companies
•        International Organizations
•        Embassies and consulates
•        Foreign NGOs

Foreign Individual employees of FDI companies, IOs, Embassies, and foreign NGOs can also open FCY account.

These types of accounts are designed for individuals and/or entities.

The following are eligible to open FCY Account:

• Resident and Non-Resident Ethiopians, including for
• Non-Resident Foreign Nationals of Ethiopian Origin.

For this type of account, the eligible Exporters of Goods and Services can open foreign exchange retention accounts.

And also FCY Cash purchase and sales service are available.