Ethiopia: Zamzam-First Full-Fledged Non-Interest Bank Goes Operational

ZamZam Bank, the nation's first fully-fledged, interest-free bank (IFB) to obtain operating license from the National Bank of Ethiopia (NBE), officially launched yesterday its main branch that makes the firm the pioneer to operate under Sharia compliance, barred all forms of interest.

The bank opened its main branch dubbed Alif (the first letter of the Arabic alphabet) located at Wollo Sefer, a district in Addis Ababa in the presence of high-level government officials, religious fathers and shareholders.

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