International Banking is a major business line of the Bank that serves customers by facilitating international payment for the purpose of trade and transfer of funds for others. It mainly focuses on trade service activities through a process that is compatible with nature of customers’ business and international standards.
In order to bring efficiency and customer satisfaction, the process is reorganized in a manner that ensures easy accessibility of trade service to customers as well as maintenance of uniform service quality and standard processing time. It has also laid the ground by which service differentiation to customers can be made. Each performer in the Trade Service (TS) /International Banking Department is required to focus on creation of value to customers by ensuring that processing of each request from start to end with a predetermined standard quality and time set for the service.
Diaspora Mortgage and Vehicles Loan
Diaspora Mortgage Loan (DML) – provides Ethiopian Diaspora access to loan facility to purchase residential house or commercial buildings from Real Estate, individual sellers or any other means or construct residential house/commercial building on own land. The DML facility enables Ethiopian Diaspora customers to deposit 20% of the total investment for Mortgage in USD, GBP or Euro and have access to the remaining 80% finance from the Bank.
Diaspora Vehicles Loan (DVL) – provides Ethiopian Diaspora access to loan facility to purchase Machinery, Tractors, Heavy Earth Moving Equipment & Specialized Equipment, Heavy Commercial Vehicles, Trucks, Trailers, Pick-Ups and other Commercial Vehicles. The facility enables Ethiopian Diaspora customers to deposit 40% of the total investment on Vehicle in USD, GBP or Euro and have access to the remaining 60% finance from the Bank.
Non Resident Ethiopian and Non-Resident Foreign Nationals of Ethiopian origin (Diaspora Accounts)
“Non-resident Ethiopians” shall mean
- All Ethiopian National living and working abroad for more than one year.
- Business entity owned by non-resident Ethiopians and located outside the Ethiopian territory for more than one year.
- Ethiopian nationals in due process of leaving Ethiopia to abroad for work for more than one year and who can have produced authenticated documents.
“Non-Resident Foreign Nationals of Ethiopian origin” shall mean
- Non-resident and holder of a valid identification card obtained from the concerned government organ attesting that he/she is a foreign nation of Ethiopian origin. (Commonly known as yellow card)
- Business entity owned by non-resident foreign nation of Ethiopian origin and located outside the Ethiopian territory for more than one year.
Eligibility Criteria and Documents required to open Diaspora Accounts:
- Application forms properly filled and signed by the account holder and one photograph;
- For individuals: valid passport and/or identification card of foreign nationals of Ethiopian origin;
- For businesses: certificate of ownership entitlement for the organization and/or article and memorandum of association.
- For those who are not in a position to physically present to open the nonresident account: a filled application form through E-mail, fax or courier service and a confirmation letter from embassy, a correspondent bank or remittance service providers
- Power of attorney holders are not allowed to open foreign currency accounts and credit the amount on behalf of non- resident and/or foreign nationals of Ethiopian origin.
- For Nonresident Ethiopians living and working in Middle East and neighboring countries, should present authenticated valid resident permit and/or valid work permit by Ethiopian embassies and legations residing abroad.
- Two or more eligible depositors may jointly open a single account.
- An individual may open current account in only one of the domestic authorized banks whereas he/she may open fixed deposit accounts in more than one bank.
- Initial deposit of minimum 100 USD or equivalent foreign currency
What is International trade?
Exchange of goods and services cross frontier/boundary between several political economics flow of goods from seller to buyer in accordance with the contract of sale and the consequential flow of payment from buyer to seller.
Trade Service Products
The Lion International Bank provides full- fledged international banking services, including facilitation of import and export transactions, handling inward and outward money transfer services, purchase and sell of foreign currencies, and providing deposit services in hard currencies.
Documentary Letter of Credit
Is an undertaking given by a bank to the seller at the request and/or instructions of the buyer to honor a claim up to a stated sum of money within a prescribed time limit and against stipulated documents, provided that the terms and conditions of the credit are complied with.
2.Documentary Collection
Is a method under which banks handle a seller’s commercial documents with or without financial documents, in accordance with instructions received from the seller’ bank, in order to deliver the documents to the buyer (importer) against payment and/or against other terms and conditions. Advance Payment is a method under which a seller receives payment from a buyer prior to shipment of goods or the rendering of the agreed upon service.
3. Advance Payment:
Is a method under which a seller receives payment from a buyer prior to shipment of goods or the rendering of the agreed upon service.
Consignment Payment
Is a method of payment in which the title to the goods remains with the seller until an agent (distributor) in foreign countrysells them. Payment is made to the seller if and when the agent (distributor) sells the goods.
Export
Guarantee:
means a letter of undertaking issued by an issuing bank/Guarantor to compensate (pay a sum of money) to the Beneficiary (local or foreign) in the event that the Obligor/Principal fails to fulfill his/her/its obligations in accordance with the terms and conditions of the guarantee/agreement/contract.
Franco – Valuta
License (Permit) is a license issued to import goods that are not entitled to pay in foreign exchange (Refer NBE Directive No. FXD/07/1998 Article 5.6)
- Small Export Items License (Permit): Is a license issued for the export of small items and other goods exported again due to various reasons (e.g. for maintenance) as well as sample items.
- Shipping Guarantee: shall mean an undertaking issued by the Bank to secure any claims by the shipping lines on the buyer as a result of release of goods without presentation of the original bills of lading(due to delays in transit or goods arrive before shipping documents are presented to the bank).
Foreign Money Transfer Service:
Foreign money transfer from LIB and from foreign banks to LIB via swift transfer.
Foreign Exchange Services:
buying and selling foreign currency notes, foreign Cheque and traveler Cheque.
Renders Remittance:
service of Western Union, Xpress Money, Dahabshill, MoneyGram, Kaah, Transfast, Tawakal and Iftin Express.
Correspondent Banks
Lion International bank has correspondent banking arrangements with well-known international banks in different parts of the globe to deal in the major currencies of the world. Trade related payments and personal remittances are transacted through these accounts in the respective currencies. Wherever you are, your funds can reach through our correspondents listed below:
| Correspondent Bank Name | Currency | Swift Code |
| Commerzbank | USD, ERU,GBP | COBADEBBXXX |
| Bank of Africa | USD | MRINDJJD |
| Bank of Beirut | USD | BABELBBE |
| Bank of china | USD | BKCHCNBJ110 |
| CAC International Bank | USD | CACDDJJD |