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Our Int. Services

int bankingInternational Banking

Wegagen Bank provides comprehensive international banking services at the Head Office, in all its city branches and some outlying branches such as Adama, Dire Dawa, Mekelle, Jijiga, Gondar, Gendawuha and Humera.

The Bank has established correspondent banking relationships with 127 internationally known banks to facilitate its international banking services, of which account is maintained with 22 banks for the use of standard settlement instruction.

Letters of Credit (L/C)

Wegagen issues letters of credit (L/C) for importing and exporting goods and services.

Cash Against Document (CAD)

In this mode of payment the supplier or seller surrenders documents to his/her drawer’s bank after which the documents be automatically forwarded to the importer’s bank on collection basis.

Outward Bills Purchased (OBP)

OBPs are payment orders expressed in the form of negotiable instruments such as checks, drafts, traveler’s checks, international money orders, etc,purchased by the Bank.

Outward Bills for Collection (OBC)

OBCs are clean checks received from customers and are payable upon confirmation of the originating bank.

Outward Documentary Bills Purchased(ODBP)

Instrument issued by a foreign bank on behalf of its importing customer.The issuing bank specifies all the requirements of its customer in the letter of credit and undertakes to honor all drafts drawn in conformity with the credit terms and conditions.

Outward Documentary Bills Sent for Collection (ODBC)

Documents sent to the issuing bank on collection basis at times where the exporter’s shipping documents are not in conformity with the credit terms and conditions.

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 Exchange Rate

extrate
    October 13, 2017 
  Buying Selling
us  USD 26.9489
27.4879
gb  GBP 35.4028 36.1109
eu EUR 31.9479 32.5869

Get In Touch

Wegagen Bank, S.C

Tel.: +251 11 552 38 00
Fax.: +251 11 552 35 20
P.O.Box: 1018, Addis Ababa, Ethiopia
E-mail: info@wegagenbanksc.com
Swift: WEGAETAA