Dashen Bank’s Sharik Surpasses 15 Billion Birr in Shariah-Compliant Financing.

Dashen Bank’s interest-free banking service, Sharik, has surpassed 15 billion birr in Shariah-compliant financing, marking a major milestone in the growth of ethical and inclusive financial services in Ethiopia.

The Sharik platform, which provides interest-free banking products aligned with Islamic finance principles, currently serves more than 1.5 million customers across the country. According to the bank, the service has mobilized over 23 billion birr in deposits and has total assets exceeding 26 billion birr.

Dashen Bank has also played a leading role in developing Ethiopia’s interest-free banking ecosystem. The bank became the first Ethiopian financial institution to join the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a global body that sets standards for Islamic finance operations.

In addition, the bank introduced a Shariah Governance Framework for its operations and launched Ethiopia’s first digital financing service dedicated to interest-free banking, further expanding access to Shariah-compliant financial products.

The service has also received international recognition. In 2023, Sharik was named the Strongest Islamic Retail Banking Window in Ethiopia by the Cambridge Institute of Islamic Finance and Economics.

Social Impact and Financial Inclusion

Beyond financial services, Sharik has supported social impact initiatives aimed at expanding economic opportunities. Through Qard Al-Hasan financing, the bank has provided 100 million birr in interest-free loans to around 1,000 women entrepreneurs, helping support small business development and economic empowerment.

In addition, more than 40 million birr managed by the bank in a custodial capacity has been allocated to corporate social responsibility initiatives, benefiting several local non-governmental organizations.

Expanding Digital Access

Sharik continues to expand its digital reach as well. The Sharik Super App now has more than 300,000 active users, reflecting growing demand for digital interest-free banking services across Ethiopia.

As demand for Shariah-compliant financial services grows, Dashen Bank’s Sharik platform is positioning itself as a key player in expanding inclusive and ethical banking solutions within Ethiopia’s evolving financial sector.