Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
TYPE ‘S1’ or TYPE ‘S2’ ACCOUNTS
It is a type of account, which may be opened in a foreign currency, if the aid given or
the loan advanced is in a foreign currency and requires the opening of a special
account.
If the aid given or the loan advanced is in USD, a special foreign-currency account, S1,
shall be opened. If the aid given or the loan advanced is in other currencies, however, a
special foreign-currency account, S2, shall be opened.
The federal government institutions, departments, etc., shall present to the CBE a
written request and the following documents for the opening of the accounts described
herein above either in their own names or in the names of others like them.
The applicants must, nonetheless, fulfill the following:
1. State in the letter of request the reason for opening a bank account;
2. State clearly in Amharic and English the name of the account, the name of the
branch where the account is to be opened and the names of the persons who
are authorized to operate the account;
3. State clearly the duration of the project, if the newly opened account is for a
project whose activities are carried out or undertaken financed by aid or a loan;
and
4. Produce/present to the branch a digital photocopy of the loan contract or of the
aid agreement, if the newly opened account has any connection with aid or loan.
The letter of request for opening a new account shall be signed by the top
officials of the federal Government or by their delegates.
CATS Procedure |
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