Revised CATS Procedure Dec.20161
COMMERCIAL BANK OF ETHIOPIA December 1, 2016 buying and selling parties (Traders).Members can only deposits in this account. 27. ECX Member Pay-Out Account: Shall refer to the account maintained by trading members of ECX, who trade in their own account. This account is used to receive payment from the trading and the member account holder has an exclusive right on the account (Can withdraw and deposit funds). 28. Education Saving Account Scholarship Fund: refer to a monetary award, granted by the CBE, for eligible Educations savings account holders. 29. Education Saving Account Seed Fund: refer to a monetary award, granted by the CBE, for eligible education saving account holders if they want to use the scholarship money for Initial capital to start a small-scale business instead of pursuing higher education. 30. Education Savings Account (ESA): shall refer to a purpose-oriented saving account with a relatively higher interest designed to encourage parents and anybody who aspires to pursue higher education. 31. Ethiopia Commodity Exchange (ECX): shall refer to the enterprise an organized marketplace, where buyers and sellers come together to trade, assured of quality, quantity, payment, and delivery. 32. Exceptions - shall refer to events that are not clearly stated on this procedure but the nature of the event is within the spirit of this procedure. 33. Federal Autonomous Organs: Shall mean to independent entities of the federal government which are accountable to the house of people representatives. 34. Fixed-Time Deposit: shall refer to a type of contract in which deposit is received for a certain period of time without movement and attracts a higher interest rate than the prevailing savings-interest rate. 35. Foreign Exchange Retention Accounts: Shall refer to a foreign currency account that allow exporters and recipients of foreign remittance to hold a specified amount of their foreign earnings for a defined period and use their Forex holdings business promotion CATS Procedure | 5
COMMERCIAL BANK OF ETHIOPIA December 1, 2016 36. Foreign-Currency Accounts: shall refer to an account in which the source of fund is overseas and can be maintained in foreign currency or in Birr. 37. Fund Transfer: Shall refer to account to account money transfer among accounts in the CBE or money transfer, initiated by CBE customers, to other bank customers’ accounts. 38. High value Transfer: shall refer to fund transfers forwarded from/to other Banks or Participants and by their nature such transactions are considered urgent or involve high value transactions. 39. Individual: Shall mean a natural person or group of natural persons that are not formed in any form of legal person like Business Organizations, Societies, and Cooperative Societies. Associations and Charities. 40. League: shall mean cooperative society league of Ethiopia established by cooperative societies at the national level. 41. Mal-operation list: shall refer to the register held by the National Bank of Ethiopia, indicating the names of demand deposit account holders whose cheque have been dishonored repeatedly and whose accounts are closed by our bank. 42. Minor account -shall refer to saving account opened for individuals below the age of 18 and operated by the individual parent or legal guardians. 43. Mnemonic Shall refer to an alternative and easy means of referring the customer by inserting the customer name first letter and telephone number. 44. Non-Resident Non-Transferable Birr Account (NRNT): Shall mean an account maintained in birr. Its Convertibility is not automatic but must be approved. (All sources for deposits in this account should be in foreign currency). 45. Non-Resident Transferable Birr Account (NRT): Shall mean an account maintained in Birr by the debit of which funds can be transferred abroad in foreign currency without the necessity of obtaining foreign exchange permit (all sources for deposits in this account should be in foreign currency) CATS Procedure | 6
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COMMERCIAL BANK OF ETHIOPIA December 1, 2016<br />
36. Foreign-Currency Accounts: shall refer to an account in which the source of<br />
fund is overseas and can be maintained in foreign currency or in Birr.<br />
37. Fund Transfer: Shall refer to account to account money transfer among<br />
accounts in the CBE or money transfer, initiated by CBE customers, to other<br />
bank customers’ accounts.<br />
38. High value Transfer: shall refer to fund transfers forwarded from/to other<br />
Banks or Participants and by their nature such transactions are considered<br />
urgent or involve high value transactions.<br />
39. Individual: Shall mean a natural person or group of natural persons that are<br />
not formed in any form of legal person like Business Organizations, Societies,<br />
and Cooperative Societies. Associations and Charities.<br />
40. League: shall mean cooperative society league of Ethiopia established by<br />
cooperative societies at the national level.<br />
41. Mal-operation list: shall refer to the register held by the National Bank of<br />
Ethiopia, indicating the names of demand deposit account holders whose<br />
cheque have been dishonored repeatedly and whose accounts are closed by<br />
our bank.<br />
42. Minor account -shall refer to saving account opened for individuals below<br />
the age of 18 and operated by the individual parent or legal guardians.<br />
43. Mnemonic Shall refer to an alternative and easy means of referring the<br />
customer by inserting the customer name first letter and telephone number.<br />
44. Non-Resident Non-Transferable Birr Account (NRNT): Shall mean an<br />
account maintained in birr. Its Convertibility is not automatic but must be<br />
approved. (All sources for deposits in this account should be in foreign<br />
currency).<br />
45. Non-Resident Transferable Birr Account (NRT): Shall mean an account<br />
maintained in Birr by the debit of which funds can be transferred abroad in<br />
foreign currency without the necessity of obtaining foreign exchange permit<br />
(all sources for deposits in this account should be in foreign currency)<br />
<strong>CATS</strong> <strong>Procedure</strong> | 6
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