Frequently Asked Questions

Sidama Bank Sc > Frequently Asked Questions

Frequently Asked Questions

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  • Q.Telephone Request

    Telephone number will be availed immediately without any call's validation via 8998 customer line

  • Q. Account Number Inquiry

    Account number will be provided if the customer responds call's validity accurately via 8998 customer line

  • Q.Account opening Requirements Inquiry

    Adequate information will be availed immediately without any call's validation through 8998 customer line

  • Email Request

    Email account will be availed immediately without any call's validation via 8998 customer line

  • Q. What are the requirements for foreign Currency Registration?

    Proforma invoice, import /investment /Factory/ licence, and undertaking letter

  • Q. What are the requirements for import?

    Foreign currency approval, vaild import /investment / factory licence, proforma invoice, insurance certificate, permit, LC application(for LC), purchase order for (CAD), undertaking letter for (TT), other and letters from respective government authority based on the items to be imported.

  • Q. What are the requirements for Export?

    Valid Export /investment /factory licence,Sales contract, LC for LC export, undertaking letter for CAD/ Consignment and TT Export, credit or cash sales advice ticket for advance payment export commercial invoice, export permit,and letters from respective governmet authority based on the items to be exported.

  • Q. LC amendement Request

    Request letter and availability of fund for the amendment requested based on the request type

  • Q. Permit approval request

    Physical presentation of documents as per NBE directive

  • Q. Regular saving account

    To process opening of a saving account,

    • Valid Identity card
    • two passport size photographs
    • Initial deposit
  • Q. Current account opening

    The procedure to open a current account:

    • Valid Identity card
    • TIN certificate
    • Business Permit (License)
    • Trade Registration Certificate
    • Memorandum and Articles of Association (For Private Companies)
    • Initial deposit
  • Q. Fixed Time Deposit opening
    • The customer requires to have account with the bank before opening of Fixed Time Deposit account
    • Negotiate with the branch manager for the interest rate