Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
letter of request from the retention account;
b) Makes sure that the foreign currency has been properly converted to Birr
and that the exchange rate has been properly applied and;
c) Follows-up on the customer’s foreign-exchange retention account and
converts to Birr and credits her/his local-currency account for the
unutilized balance left over in the “Retention account B” after 28 days
have elapsed as per the directive of the NBE; and
d) Authorizes the reversal entry, if the customer fails to utilize the fund
within the prescribed date;
The Branch Controller
a) Receives the letter of application from the Maker and checks the
transaction on the system and the pertinent directives to make sure that
it does not contravene any of their provisions; and
b) Ensures unutilized balance left over in the “Retention account B”
converted to birr and credited to local currency account after 28 days;
c) Files the document in her or his custody.
CATS Procedure | 119