Bank Job in Ethiopia 2024

Bank Job in Ethiopia 2024

Bank of Abyssinia’s total assets and paid-up capital have increased significantly. It also drew in a large number of well-trained employees, esteemed shareholders, and influential clients from all walks of life. This performance shows that the public has faith in the Bank and is satisfied with its dependability and services.

With pride, the Bank of Abyssinia presents the new self-service kiosk, which allows customers to access branch banking services from any ITM corner conveniently, thanks to our exceptional and amiable virtual tellers. Discover Bank of Abyssinia’s virtual banking for quick, simple, and convenient banking at the locations that work best for you.

The hybrid experience of using an Automated Teller Machine (ATM) and interacting with a live teller is created through virtual banking using an Interactive Teller Machine (ITM). ITMs, also known as virtual teller machines, are programmed to handle cash, accept checks, scan IDs, and print receipts. By using digital communication tools to establish a connection with a live, distant employee of the bank, they also bring a human element to the transaction. ITMs enable video conferencing, chat, and voice communication (through a speaker or a private handset), much like Skype on a PC.

First Position: Driver I
Education: Completion of grades 12 and 10; public I or third-level driver’s license

Experience: Two years of minimum experience behind the wheel. Having prior banking industry experience is beneficial.

Workplace: Addis Ababa

Post 2: Parking Coordinator Education:  Completed 10th Grade and Public I or Third Level Driving Licence)

Experience: ቢያንስ 2ዓመት በሾፌርነት ዑገለገለች (Desirable driving experience for at least two years).

Where: Addis Ababa

Priority date: March 22, 2024

How to Submit an Application
Qualified and eligible candidates should apply online via the BoA career website at https://fa-enhf-saasfaprod1.fa.ocs.oraclecloud.com/hcmUI/CandidateExperience/en/sites/CX/requisitions after verifying the eligibility requirements and preparing all required documentation.

We are happy to notify you that on Monday, March 18, the position will become available. To continue with the application process, we respectfully ask that you get in touch with us again on that day.

Applications submitted by mail or in person are not accepted. Applications that are not eligible or qualified will be automatically rejected. Applicants are advised to submit a single application; those who submit more than one will have their submissions rejected.
Email will be the only method used to share any updates.
Only those who have been shortlisted will be contacted.

The external loan and supplier credit directives were recently updated by the National Bank of Ethiopia to include the import of LGB Gas and the agricultural sectors in the program’s benefits. The ability to seize any chance to save costs and grow a firm is more crucial than ever for companies operating in the current global economy. Additionally, companies in these industries may find this programme to be a compelling chance to do that. A bank may also open a usage letter of credit for an exporter who wishes to purchase machinery, equipment, raw materials, and accessories for their export business in connection with it. These imports may be made against future exports using supplier credit or external loans with a minimum one-year repayment term. This blog post will explain what a Supplier’s Credit is, what a Usance Letter of Credit is, and how the Usance Letter of Credit is used to handle Supplier’s Credit schemes.

Supplier’s Credit: What Is It?

The phrase “supplier’s credit” simply refers to a loan that an exporter may get, with the importer being required to make payments as specified in the loan agreement or LC conditions following the loan duration. A supplier’s credit is a kind of short-term loan secured by a letter of credit that is usually used to fund the acquisition of inventory, raw materials, machinery, equipment, or any other asset required for a firm to operate. It can also be utilised to fund a company’s working capital requirements.

A Usance Letter of Credit: What Is It?

One kind of letter of credit that is due after a certain amount of time (typically 180 days) is a usance or postponed letter of credit (L/C). A use letter of credit permits companies to postpone payment for a certain amount of time, as contrast to a regular letter of credit, which usually demands “sight payment” right once. For companies in these industries who have to buy equipment, supplies, or raw materials on credit and then sell their goods before they can pay off their debt, this might be advantageous. It also aids companies in increasing their cash flow. Additionally, our nation accepts this kind of letter of credit for imports through the supplier’s credit and an external loan programme set up by the National Bank of Ethiopia.

Both buyers and sellers might benefit from using letters of credit. They safeguard consumers against the non-delivery of products or services. They provide vendors the guarantee that they will get money within the allotted period. Furthermore, use letters of credit can be utilised to benefit from supplier discounts for early payments. A firm may save a lot of money by taking advantage of these reductions.

How does it operate?

The following 10 steps must be completed in order for the transaction to proceed; however, depending on the circumstances, the steps may overlap or come first.

Step 1: The buyer must first obtain clearance from the National Bank of Ethiopia in the form of a letter of approval and registration.

Step 2: The customer and seller sign a contract in which they agree on a range of topics, such as the cost, conditions of payment, quantity, quality, and date of delivery. It is also possible for the agreement to specify that payment will be made via a Letter of Credit.

Step 3: Buyer contacts bank to initiate supplier credit procedure and get usage authorization. A letter of credit in the vendor’s favour

Step 4: The buyer’s bank will compile a credit report and assess the buyer’s or the company’s projected cash flow and performance at the time of the loan or lease settlement. Additionally, the credit request will often be granted with the suggestion that a zero-margin use letter of credit be opened or issued. At this stage, the local bank typically processes the client’s request in accordance with NBE guidelines as well as internal rules and procedures related to the requested service.

Step 5: The bank notifies the seller about the use of the letter of credit.

Step 6: The seller arranges shipment and sends paperwork to the seller’s bank after receiving the Letter of Credit.

Step 7: Presenting the document or having the seller’s bank verify it for errors (in accordance with UCP 600) before sending it to the buyer’s bank for approval.

Step 8: At the scheduled time, the buyer pays the issuing bank the sum stated on the paper. On the other hand, the issuing bank sends the paperwork to the buyer right away without holding onto the Supplier’s Credit amount or the Letter of Credit.

Step 9: The buyer can now acquire the products by using the documentation.

Step 10: Upon maturity, the buyer’s bank pays the supplier’s credit bank in foreign currency, and the importer pays his bank in birr.

In conclusion, NBE instructions and, depending on the circumstances, the internal credit and trade finance rules and procedures of the local banks shall be followed in handling the buyer’s associated service requests or applications.