Readers ask: What Is Commercial Bank Of Ethiopia Procedures?

How much is the interest rate of commercial bank of Ethiopia?

Commercial Bank of Ethiopia Savings Account

Type Floating
Rate 7.00%
Currency ETB

What is background of Commercial Bank of Ethiopia?

The history of the Commercial Bank of Ethiopia (CBE) dates back to the establishment of the State Bank of Ethiopia in 1942. CBE was legally established as a share company in 1963. In 1974, CBE merged with the privately owned Addis Ababa Bank.

What is the use of CBE?

Abstract: CBE -BIRR is an agent banking service introduced by Commercial Bank of Ethiopia and CBE -BIRR customers can transfer money to subscribed or unsubscribed users, deposit and withdraw cash from agents, buy airtime directly without scratching mobile cards, pay for goods and services.

What is the role of commercial bank in Ethiopia?

Commercial Bank of Ethiopia plays role in financial inclusion through deposit inclusion and credit inclusion The CBE plays important role in deposit and credit services in jurisdiction. The deposit of the CBE was increasing from time to time. For instance in the year 2010, the deposit with CBE was 56bn.

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Which bank is best in Ethiopia?

Best Banks in Ethiopia for 2021

  • Bunna International Bank 2017/2018 Fiscal Year.
  • Abay Bank 2017/2018 Fiscal Year.
  • Berhan Bank 2017/2018 Fiscal Year.
  • Zemen Bank 2017/2018 Fiscal Year.
  • Enat Bank 2017/2018 Fiscal Year.
  • Addis International Bank 2017/2018 Fiscal Year.
  • Debub Global Bank 2017/2018 Fiscal Year.

How do I apply for CBE?

How to apply CBE?

  1. First Download the Vacancy Notification [PDF]
  2. How to Apply Guideline: Download.
  3. Read the vacancy announcement carefully.
  4. Check the vacancy details with eligibility.
  5. Prepare your CV or Application Details.
  6. Finally, apply as instructed by the Authority.
  7. Online Application Link: Click Here.

How do I use CBE mobile banking?

For smartphone users you have to download the CBE mobile app which is found in play store and apple store. After this you have to activate the app using the activation key they send you. Then you have to insert another activation key you will get this from the bank service provider.

What is the difference between National Bank and Commercial Bank?

A commercial bank is any financial institution that holds deposits for and lends money to individuals and businesses. In the United States, a national bank is a commercial bank that is a member of the Federal Reserve System. As such, a national bank is an investing member of its district Federal Reserve Bank.

How do I transfer money through CBE?

You will see a screen that shows detailed instructions to use the CBE -birr service to complete the payment from your phone.

  1. Dial *847# ( CBE -birr USSD service) on your phone.
  2. Reply 5 for Bill Pay.
  3. Reply 2 for Input Short Code.
  4. Enter 251997 (YenePay merchant short code) when requested.
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What is CBE wallet?

CBE Birr ( Wallet Account) account is a type of pre-paid account in which a user can store his/her money for any future transaction. Account is protected with a PIN. With the help of an CBE Birr, one can make payments for groceries, online purchases, and flight tickets, among others.

How do I use CBE wallet?

CBE -Birr Mobile Wallet

  1. Dial *847# and enter your password.
  2. Enter number 5 to select “pay bill”
  3. Select Ethio telecom bill payment (4th option)
  4. Insert service number/account number to proceed with the payment (outstanding balance will show up)
  5. Choose number 4 to complete the payment.

What are the roles of commercial bank?

The general role of commercial banks is to provide financial services to the general public and business, ensuring economic and social stability and sustainable growth of the economy. In this respect, credit creation is the most significant function of commercial banks.

What is the role and function of National Bank of Ethiopia?

Following the proclamation the National Bank of Ethiopia was entrusted with the following responsibilities: To regulate the supply, availability and cost of money and credit. To manage and administer the country’s international reserves. To supervise loans of commercial banks and regulate interest rates.

What are the types of deposits?

Types of Deposits

  • Savings Bank Account.
  • Current Deposit Account.
  • Fixed Deposit Account.
  • Recurring Deposit Account.

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