cbe

USD
131.5086
134.1388
,
GBP
174.4955
177.9854
,
EUR
149.8277
152.8243
,
CHF
156.9823
160.122
,
SEK
13.4396
13.7084
,
NOK
12.8108
13.0671
,
DKK
19.7202
20.1146
,
DJF
,
JPY
0.8912
0.909
,
CAD
94.2697
96.1551
,
SAR
35.069
35.7703
,
AED
35.809
36.5252
,
INR
,
KES
,
AUD
83.7181
85.3925
,
ZAR
,
CNY
17.9542
18.3133
,
KWD
420.8198
429.2362

awash

abyssinia

abay

USD
132.9817
135.6413
,
GBP
180.9215
184.54
,
EUR
154.2986
157.3846
,
AED
36.2052
36.9293
,
ZAR
7.4811
7.6308
,
SAR
35.4561
36.1652
,
JPY
0.9125
0.9308
,
CHF
164.8669
168.1643
,
AUD
86.345
88.0719
,
CNY
18.5371
18.9079

zemen

CAD
99.0408
101.0216
,
EUR
155.998
159.118
,
GBP
173.9501
177.4291
,
SEK
14.0584
14.3396
,
USD
134.4019
137.0899

buna

USD
134.1009
136.7829
,
EUR
154.9901
158.0899
,
GBP
178.2021
181.7661
,
AED
36.192
36.9158
,
SAR
35.7075
36.4217
,
CAD
94.006
95.8861
,
AUD
64.239
65.5238
,
JPY
0.94
0.9588

nib

USD
133.7081
136.3822
,
GBP
184.2764
187.962
,
EUR
158.0028
161.1629
,
CHF
169.6587
173.0519
,
CAD
98.3147
100.281
,
AED
36.401
37.129
,
SAR
35.6498
36.3628

berhan

wegagen

USD
134.1927
136.8766
,
GBP
183.1731
186.8366
,
EUR
158.0522
161.2132
,
CHF
169.0023
172.3823
,
SEK
14.0366
14.3173
,
CNY
18.7333
19.1081
,
JPY
0.9259
0.9444
,
AED
36.5407
37.2715

dgb

USD
132.0724
134.7138
,
EUR
148.5321
151.5027
,
GBP
167.2316
170.5762
,
CHF
130.8214
133.4378
,
SAR
29.9468
30.5457
,
AED
35.8921
36.6099
,
CAD
79.1617
80.7449

enat

USD
133.1112
135.7734
,
EUR
150.8905
153.9083
,
GBP
175.6636
179.1769

ahadu

USD
133.6323
136.3049
,
GBP
180.1432
183.7461
,
EUR
154.5012
157.5912
,
CAD
94.4677
96.3514
,
SAR
35.0504
35.7514
,
AED
35.7909
36.5067

addis

USD
134.17
136.8534
,
EUR
157.3696
160.517
,
GBP
184.1205
187.8029
,
SAR
35.7729
36.4884
,
CHF
167.9855
171.3452
,
AED
36.5307
37.2613
,
KWD
0
0

dashen

USD
134.3246
137.0111
,
EUR
155.8165
158.9329
,
GBP
181.3382
184.965
,
CAD
87.848
89.6049
,
AED
33.0957
33.7576
,
SAR
32.4031
33.0512
,
CNY
16.8383
17.1751

oromia

USD
134.3633
137.0506
,
GBP
177.0371
180.5778
,
EUR
148.8611
151.8383
,
CHF
169.3299
172.7165
,
SAR
35.8263
36.5429
,
AED
36.5774
37.3089

lion

USD
134.0414
136.7222
,
GBP
180.27
183.8754
,
EUR
154.9538
158.0529

developmentbank

USD
132.3534
135.0005
,
GBP
181.3903
185.0181
,
EUR
155.8064
158.9226
,
CHF
166.9864
170.3261
,
SEK
13.913
14.1913
,
NOK
13.1139
13.3762
,
DKK
20.8812
21.2988
,
DJF
0.7413
0.7561
,
JPY
0.9195
0.9379
,
CAD
96.9906
98.9304
,
SAR
35.2914
35.9972
,
AED
36.0312
36.7518
,
INR
1.5443
1.5752
,
KES
1.0224
1.0429
,
AUD
86.9165
88.6548
,
SDR
172.5888
176.0406
,
ZAR
7.4931
7.6429
,
CNY
18.464
18.8332
,
KWD
433.5765
442.248

coop

USD
133.7406
136.4154
,
GBP
176.331
179.8576
,
EUR
151.4649
154.4942
,
AED
34.994
35.6938
,
SAR
34.2674
34.9528

gadaa

USD
134.1095
136.7917
,
GBP
165.8019
169.1179
,
EUR
152.1936
155.2375
,
AED
33.7659
34.4412
,
SAR
33.0073
33.6674
,
CHF
134.1436
136.8265

hijra

USD
132.1301
134.7727
,
EUR
148.063
151.0242
,
GBP
173.3231
176.7895
,
SAR
35.8505
36.5675
,
AED
36.6058
37.3379

amhara

USD
134.6599
137.3531
,
GBP
184.8746
188.5721
,
EUR
157.7541
160.9092
,
CAD
98.6086
100.5808
,
AED
36.6691
37.4025
,
SAR
35.9055
36.6236

tsehay

USD
132.8509
135.5079
,
GBP
169.2591
172.6443
,
EUR
148.836
151.8127
,
CAD
89.6864
91.4801
,
SAR
33.3311
33.9977
,
AED
34.0606
34.7419
,
AED

tsedey

USD
134.2875
136.9732
,
EUR
158.2847
161.4503
,
GBP
183.3293
186.9959
,
AED
36.5567
37.2879
,
CHF
169.2344
172.6191
,
SEK
14.0637
14.345
,
NOK
13.3285
13.5951
,
DKK
21.2131
21.6374
,
DJF
0.7521
0.7671
,
INR
1.5726
1.6041
,
JPY
0.9333
0.952
,
CAD
98.8062
100.7823
,
SAR
35.8062
36.5223
,
ZAR
7.6611
7.8144
,
CNY
18.7476
19.1226
,
KWD
439.9526
448.7517
,
KES
1.0374
1.0581

siinqee

USD
134.08
136.7616
,
EUR
157.015
160.1553
,
GBP
181.7173
185.3516
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
36.3332
37.0599

hibret

USD
133.2001
135.8641
,
GBP
175.1027
178.6048
,
EUR
156.2897
159.4155
,
AED
36.2617
36.9869
,
CAD
97.6111
99.5633
,
CNH
18.5821
18.9537
,
CHF
148.0209
150.9813

gohbetoch

USD
134.1805
136.8641
,
EUR
154.0142
157.0945
,
GBP
178.6217
182.1941
,
AED
35.7081
36.4222

zamzam

USD
132
134.64
,
GBP
177.072
180.6134
,
AED
36.2533
36.9784
,
EUR
149.748
152.743
,
SAR
35.3367
36.0434
,
CAD
95.625
94.5375
,
CHF
160.185
163.3887

nbe

JPY
0.9361
0.9454
,
KWD
442.2143
446.6364
,
CNY
18.8636
19.0522
,
ZAR
7.5564
7.632
,
XDR
185.8444
187.7029
,
EUR
158.4622
160.0469
,
AED
36.835
37.2033
,
SAR
36.0709
36.4316
,
AUD
88.4104
89.2945
,
CAD
99.0464
100.0369
,
USD
135.2875
135.4483
,
KES
1.0447
1.076
,
INR
1.5817
1.5976
,
DJF
0.7577
0.7804
,
DKK
21.2392
21.4516
,
NOK
13.4303
13.5646
,
SEK
14.2729
14.4157
,
CHF
169.3846
171.0785
,
GBP
185.6821
187.5389

binance

USDT
160.47
159.98

ZamZam Bank Review

ZamZam Bank

ZamZam Bank

5.4 Rating

0% Loan Interest

Interest Free Banking

Islamic Bank

First full pledged Islamic bank

Written by: abenezer   Proof Read by:  abenezer

Pros and Cons

Ethiopia’s first Islamic bank
Full interest free bank
Poor online banking
No saving interest
10 number of brunches

ZamZam Bank Information

Contact Information

Internet Banking

  • Can Check Balance
  • Can Transfer Money
  • View Account Statement
  • Can Control Progress
  • Can Pay Bills Online

Mobile Banking

  • Mobile Application
  • Balance Inquery
  • USSD Application
  • Mobile Top Up
  • Money Transfer

Apply for a loan here

Banks Ethiopia gives you the access and information you need to get car loan and house loan services in Ethiopia from the bank of your choice. If you are a non resident and/or a foreigner with origin of Ethiopia looking for these loan services, make sure to visit our diaspora mortgage loan and diaspora vehicle loan pages to acquire a more detailed information.

Zamzam Bank Exchange Rate

The exchange rate for Zamzam Bank can also be found at our exchange rates page, along with all other exchange rates in Ethiopia today.

code buying sellingDifference
Flag of USD

USD

($)

132.00
134.63

± 2.63

Flag of GBP

GBP

(£)

177.07
180.61

± 3.54

Flag of AED

AED

(د.إ)

36.25
36.97

± 0.72

Flag of EUR

EUR

(€)

149.74
152.74

± 2.99

Flag of SAR

SAR

(ر.س)

35.33
36.04

± 0.70

Flag of CAD

CAD

($)

95.62
94.53

± -1.09

Flag of CHF

CHF

(CHF)

160.18
163.38

± 3.20

About ZamZam Bank

ZamZam Bank is the primary genuinely committed Islamic bank set up in Ethiopia. It has gotten a permit from the Central Bank on 28 September 2020 to provide clients within the nation with interest-free banking exercises. ZamZam Bank plans to receive a technology-based approach from the initial day of its benefit, building on the skill of the establishing individuals.

ZamZam bank plans to take after a technology-based approach from the primary day of its operation, capitalizing on the encounter of the establishing individuals. The customer is at the centre of this approach, which can make the bank adjust to advancing client needs powerfully.

ZamZam Bank Milestones

2006: Members of Zemzem Bank Organizer (Dr. Nasir Dino, Dr. Ahmed Hussein, Dr. Endris Mohamed and Jamal Muzein) began talking to the country’s top officials.

2007: The House of Peoples’ Representatives of the Federal Democratic Republic of Ethiopia (FDRE)Proclamation amended June 2000 Banking Proclamation No. 592/2000 August 19/2000 by Negarit GazetaPublished.Sub-Article 2 of Article 22 of this Proclamation National Bank Interest-Free Deposit. It may issue directives to regulate banking activities related to fundraising and use. It came out with a historic change. Official application of Zemzem Bank organizers to the National Bank and they began preparations for banking.

2009: National Bank of Ethiopia announces the first draft to stakeholders for Interest-Free BankingJune 2010 Guidelines.

2010: On September, 2011, the National Bank of Ethiopia (NBE) released the 2nd Interest-Free Bank Directive. On  October 8 All banks and founding banks are invited for discussion Zemzem Bank organizers are actively involved. On November 2011 An important and hopeful meeting for the members of Zemzem Bank Held at Addis Ababa Theater and Culture Center.

ZamZam Bank Share

December 2010 ZamZam Bank’s modified share document, which was formed Prospectus submitted to the National Bank of Ethiopia was presented and collection of capital started.

At the time, the banking industry’s initial capital was 137 million birr. This was collected from 6300 people Collected (at the time, the National Bank’s small banking capital was 70 million birr). A meeting of signatories was held at the Millennium Hall on April 2012 and by approving the Memorandum  of Article of Establishment, the board of directors was chosen. Directors.

2011: September 9, 2014 – The National Bank of Ethiopia (NBE) announced that it has decided to establish an interest-free bank with a regular bank and provide only window services. After discussing the matter with the signatories of Zemzem, who were gathered to form a full interest-free bank, they expressed their dissatisfaction with the proposal.

The peaceful struggle continued with political leaders. Letter to former Prime Minister Meles Zenawi was written by Zemzem Bank organizers. And There was no answer.

In a letter dated January 10, 2004, Zemzem Bank announced that it would increase its capital to 500 million and start regular interest-free services through the window or return the money collected to its members. Later when Hailemariam Desalegn is the Prime Minister of Ethiopia there was still no answer. The 137 million birr collected was returned to share holders through a long and arduous process.

2017: A letter requesting the rebirth of Zemzem Bank from Zemzem Bank organizers was presented to Prime Minister Dr Abiy Ahmed. Expert discussions were held for several months.

2018: A letter to the Governor of the National Bank of Ethiopia, Dr. Yinager Dessie, on May, 2018, a letter was written asking him not to forget about the re-establishment of the bank. The Governor of the National Bank of Ethiopia, Dr. Neger Dessie, has announced that he will re-establish the Zemzem Bank SC on May, 2018. In the evening, Prime Minister Abiy Ahmed congratulated the people of Ethiopia.

The National Bank of Ethiopia (NBE) has ordered the opening of a bank account for the sale of shares based on a May 2019 application.

2019: On September, 2019, the organizers of Zemzem Bank announced that they have met the National Bank with a capital limit of 500 million birr.
Stock sales continued under public pressure. November, 2019 Millennium Hall Signatories Conference held in full swing. The constitution and bylaws were approved. Board of Directors elected.

September 2019: Zemzem Bank Managers 630 June 5, 2012 Office

June 2020: The Board of Directors of Zemzem Bank was approved by the National Bank of Ethiopia. Members of the Board with advanced education, financial skills and business experience Are included.

July 2020: As soon as the signing ceremony is completed, the bylaws and bylaws are approved.
Business Registration Certificate (with a capital of 1,709,707,000) in business Ministry was given.

September 2020: Date of signing of the National Bank’s banking license

October 2020: The National Bank of Ethiopia has launched its first banking operation in the country Date of issuance of license to Zemzem Bank SC in a special ceremony.

ZamZam Bank Services

ZamZam Bank Accounts

  1. Diaspora Account

    ZamZam Bank offers a diaspora account for their international customers. To get a diaspora account, you must be Ethiopian or have Ethiopian origins.

    Documents needed to open a Diaspora Account
    • Renewed Passport
    • Verified work permits for non-residents
    • Yellow card
    • Letter from the nearest Ethiopian Embassy if you are not present while opening an account
    • Application form provided by the Bank

    The initial deposit needed to open a ZamZam Diaspora account is USD 100. It can be transformed using SWIFT.

  2. Quad Current Account

    ZamZam Bank offers Quad Current Account according to the contract of Quad. The initial deposit to open a Quad Current Account is ETB 250. After that, there is no limit to depositing or withdrawing your money. Quad Current Account holders can access a debit card, internet, and mobile banking. Customers can withdraw money in cash, ATM, POS, account transfer, debit card, and internet and mobile transactions.

    Benefits of having Quad Current Account
    • Customer and Bank do not exchange profits or losses
    • Cheque book facility
    • Inter and intra money transfers free of funds (only locally) up to the limit set by the concerned government body
    • Free monthly bank account statement
  3. Qard Non-Resident Foreign Currency Account

    Quad Non-Resident, Foreign Currency Account, is provided for foreign nationals, ampoules of international organizations, NGOs, and embassies. Its employees who live and work in Ethiopia receive salaries in foreign currency.

    Like Quad Current Account, Quad Non-Resident Foreign Current Account has no deposit and withdrawal limit. However, Deposits from local sources are not allowed. You can withdraw your money through cash and the counter upon presenting your travel documents. The initial deposit is USD 100.

    Benefits of Quad Non-Resident Foreign Currency Account
    • Can operate by check
    • It can be used for travel allowances
    • When sending money abroad, there is no exchange commission charged
    • Interest-free unless permitted explicitly by NBE

ZamZam Bank Financing

  • Sharia Compliant Financing

  • Murabahah (Cost Plus Profit) Mode of Financing

    This is an agreement between ZamZam Bank and the customer where the Bank agrees to buy items the customer needs and sells them profit added to the cost.

  • Bai’Salam

    This is when a contract where early payment is made for a specific defined product besides gold, silver, and money that will be delivered later on a given day.

  • Istisna’

    This is a contract to sell specific properties to be built with an obligation to ZamZam Bank to deliver those properties to the customer once it is finished, along with the price, delivery date, and location that have been mutually agreed upon.

  • Ijarah

    This is a form of Shari’ah mode financing in which ZamZam Bank leases identified assets to the customer for an agreed-upon rental fee and lease term.

  • Musharakah

    This is joint financing between ZamZam Bank and customers to divide earnings and losses following a predetermined formula.

  • Mudarabah

    This is when ZamZam Bank lends money to another party or mudarib so they can invest in businesses.

  • Kafalah (Letter of Guarantee)

    This is a written obligation issued by ZamZam Bank to pay sums of money to the beneficiary, whether local or foreign, if the obligor fails to honor their promise following the terms and conditions of the guarantee, agreement, or contract.

  • Personal Financing

    Personal financing is to finance a building or purchase of a residential home and to buy cars (personal vehicle financing).

ZamZam Banking

International Banking

  • Trade Services: This is used for import and export letters of credit, cash against documents, and advance payment.
  • Foreign Transfer Services: This service is used for incoming and outgoing fund transfers from foreign banks to ZamZam Bank and from ZamZam Bank to Foreign Banks respectively, through SWIFT.
  • Remittance Services: ZamZam Bank uses this service in collaboration with authorized remittance service providers.

Contact Information

Zamzam Bank phone number:+2515582308 or 9670

Zamzam Bank email address: [email protected]

SWIFT: ZAMZETAA, Addis Ababa, Ethiopia

Zamzam Bank Head Office: Ethio china friendship road, Kadco Building, Addis Ababa, Ethiopia

5.4

ZamZam Bank

Loan Interest

10

Mobile Banking

8

Internet Banking

0

Saving Interest

5

Customer Service

9.2

Diaspora Benefit

0

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