Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
3. TYPES AND FEATURES OF DEPOSIT PRODUCTS AND SERVICES ................................. 26
3.2 Features of deposit products and services .......................................................................................................... 27
3.2.1 Features of local deposit products .......................................................................................................................... 27
3.2.1.1 Features of Savings Accounts..................................................................................................................................... 27
I. Ordinary Savings ........................................................................................................................................................ 27
II. Women Saving Account .......................................................................................................................................... 28
III. Youth saving account ............................................................................................................................................... 28
IV. Teen youth saving account .................................................................................................................................... 29
V. Education Savings Account.................................................................................................................................... 29
3.2.1.2 Features of demand deposit Accounts ................................................................................................................... 30
I. Ordinary Demand Deposit ..................................................................................................................................... 30
II. Special-Demand Deposit Account ....................................................................................................................... 30
III. ECX related Accounts ............................................................................................................................................... 31
3.2.1.3 Features of Fixed Time deposits ............................................................................................................................... 32
3.2.1.4 Other distinguishing features deposit products ................................................................................................ 32
I. Muday Bank Service.................................................................................................................................................. 32
II. Accounts for Minors .................................................................................................................................................. 32
III. Joint accounts .............................................................................................................................................................. 33
IV. Earmarked Accounts ................................................................................................................................................ 33
V. Accounts for Interdicted Persons ....................................................................................................................... 33
VI. Staff Accounts .............................................................................................................................................................. 33
VII. Cash Indemnity Account ......................................................................................................................................... 34
VIII. Overdraft account- .................................................................................................................................................... 34
3.2.2 Features Foreign Deposit products ......................................................................................................................... 34
3.2.2.1 Features of foreign currency Fixed-time deposit; ............................................................................................ 35
3.2.2.2 Features of foreign currency Current accounts ................................................................................................. 36
3.2.2.3 Non-Repatriable Birr account (saving account) ................................................................................................ 36
4. ELIGIBILITY CRITERIA AND REQUIRED DOCUMENT TO OPEN ACCOUNT ......................................... 37
4.1 Eligibility to open local deposit accounts ........................................................................................................ 37
4.2 Eligibility to open foreign currency accounts ............................................................................................... 38
4.3 Document required ................................................................................................................................................... 39
4.3.1 Document required to local Currency account Opening .......................................................................... 39
4.3.2 Documents required to open Foreign-Currency Accounts...................................................................... 51
5. OPENING OF AN ACCOUNT ......................................................................................................................................... 54
5.1 Customer creation........................................................................................................................................................... 54
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