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

USD
133.1473
135.8102
,
GBP
179.0042
182.5843
,
EUR
153.0194
156.0798
,
JPY
0.7875
0.8032
,
SAR
32.0433
32.6842
,
AED
32.7282
33.3828
,
CAD
86.8711
88.6085
,
CHF
144.4146
147.3029
,
NOK
10.7959
11.0118
,
DKK
17.4702
17.8196
,
SEK
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

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
97.8407
99.7975
,
EUR
154.0162
157.0965
,
GBP
173.9501
177.4291
,
SEK
14.1281
14.4107
,
USD
133.6621
136.3353

buna

USD
133.4099
136.0781
,
EUR
153.8584
156.9356
,
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
131.9869
134.6267
,
GBP
178.084
181.6457
,
EUR
149.696
152.6899
,
CHF
160.023
163.2234
,
CAD
95.6878
97.6015
,
AED
35.9349
36.6536
,
SAR
35.1881
35.8918

berhan

wegagen

USD
133.3859
136.0536
,
GBP
183.1789
186.8424
,
EUR
156.5151
159.6454
,
CHF
167.1725
170.5161
,
SEK
14.0989
14.3809
,
CNY
18.6208
18.9932
,
JPY
0.9337
0.9524
,
AED
36.3211
37.0475

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
132.4605
135.1097
,
EUR
149.62
152.6124
,
GBP
174.0256
177.5061

ahadu

USD
133.0883
135.7501
,
GBP
174.1091
177.5913
,
EUR
147.0413
149.9821
,
CAD
94.4677
96.3514
,
SAR
35.0504
35.7514
,
AED
35.7909
36.5067

addis

USD
133.5779
136.2495
,
EUR
154.1589
157.2421
,
GBP
180.6135
184.2258
,
SAR
35.4883
36.1981
,
CHF
167.2441
170.589
,
AED
36.3695
36.3695
,
KWD
0
0

dashen

USD
133.9746
136.6541
,
EUR
155.4105
158.5187
,
GBP
180.8657
184.483
,
CAD
87.6191
89.3715
,
AED
33.0095
33.6697
,
SAR
32.3187
32.9651
,
CNY
16.7944
17.1303

oromia

USD
133.2225
135.887
,
GBP
175.534
179.0446
,
EUR
147.5972
150.5492
,
CHF
166.3617
169.689
,
SAR
35.5213
36.2317
,
AED
36.2718
36.9972

lion

USD
133.6776
136.3512
,
GBP
178.836
182.4127
,
EUR
153.4335
156.5022

developmentbank

USD
132.3534
135.0005
,
GBP
181.6418
185.2746
,
EUR
155.0123
158.1125
,
CHF
165.2765
168.582
,
SEK
13.9877
14.2675
,
NOK
13.1377
13.4005
,
DKK
20.7779
21.1935
,
DJF
0.7413
0.7561
,
JPY
0.9177
0.936
,
CAD
96.7213
98.6557
,
SAR
35.2895
35.9953
,
AED
36.0351
36.7558
,
INR
1.5436
1.5745
,
KES
1.022
1.0425
,
AUD
86.4929
88.2228
,
SDR
180.9933
184.6131
,
ZAR
7.4836
7.6333
,
CNY
18.4565
18.8256
,
KWD
433.0074
441.6675

coop

USD
132.3606
135.0078
,
GBP
168.331
171.6976
,
EUR
143.4649
146.3342
,
AED
32.994
33.6538
,
SAR
32.2674
32.9128

gadaa

USD
132.9932
135.6531
,
GBP
164.6856
167.6793
,
EUR
151.0773
154.0988
,
AED
33.7659
34.4412
,
SAR
33.0073
33.6674
,
CHF
134.1436
136.8265

hijra

USD
132.1126
134.7548
,
EUR
148.0482
151.0091
,
GBP
173.3057
176.7718
,
SAR
35.8469
36.5638
,
AED
36.6022
37.3342

amhara

USD
133.6599
136.3331
,
GBP
180.4275
184.036
,
EUR
154.043
157.1239
,
CAD
97.5477
99.4987
,
AED
36.3978
37.1257
,
SAR
35.6227
36.3351

tsehay

USD
131.849
134.486
,
GBP
169.2591
172.6443
,
EUR
147.856
150.8131
,
CAD
89.6864
91.4801
,
SAR
33.3311
33.9977
,
AED
34.0606
34.7419
,
AED

tsedey

USD
133.6052
136.2773
,
EUR
156.4917
159.6216
,
GBP
183.3731
187.0406
,
AED
36.3769
37.1045
,
CHF
167.2783
170.6239
,
SEK
14.0955
14.3774
,
NOK
13.2633
13.5286
,
DKK
20.9751
21.3946
,
DJF
0.7483
0.7632
,
INR
1.5621
1.5933
,
JPY
0.9244
0.9429
,
CAD
97.8148
99.771
,
SAR
35.6223
36.3348
,
ZAR
7.4625
7.6117
,
CNY
18.629
19.0016
,
KWD
436.7152
445.4495
,
KES
1.0317
1.0523

siinqee

USD
132.7897
135.4455
,
EUR
152.015
155.0553
,
GBP
178.7173
182.2916
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
36.3332
37.0599

hibret

USD
132.2001
134.8441
,
GBP
174.0089
177.4891
,
EUR
151.9828
155.0225
,
AED
35.9934
36.7133
,
CAD
96.6093
98.5415
,
CNH
18.4351
18.8038
,
CHF
148.0209
150.9813

gohbetoch

USD
133.3805
136.0481
,
EUR
151.299
154.325
,
GBP
176.6057
180.2482
,
AED
35.0447
35.7758

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
160.85
160.4
ZamZam Bank

ZamZam Bank

5.4 Rating

0% Loan Interest

Interest Free Banking

Islamic Bank

First full pledged Islamic bank

ZamZam Bank to Start Operation in 2021 as first Islamic Bank

ZamZam Bank to Start Operation
ZamZam Bank to Start Operation in 2021 as first Islamic Bank has now secured its license from NBE, the regulatory authority. This will make ZamZam Bank (ZZB) the country’s first Interest-Free Bank.

According to information obtained from NBE, in October 2020, the regulatory body officially awarded the license to ZamZam Bank.

After the government showed an interest in allowing the bank to function under the Islamic Banking Concept, the bank was a champion when it began its operations in 2007. However, when the government enforced interest-free banking to work alongside conventional banking, this was short-lived.

This was not a favorable choice for the founders of the bank, who only wanted to operate an interest-free bank. This prompted the bank to reimburse its shareholders for the received amounts.

On the bank’s side, the government has been undergoing reform for the past two and a half years. The government has now made it possible for Ethiopians to invest in fully-fledged IFBs. This re-sparked the interest of ZamZam Bank, which recently began its activities by raising huge amounts of funds in a short period of time.

ZamZam Bank to Start Operation has Announced on Their Official FB Page

ZamZam bank to start operation mentioned on their official Facebook page “We are in the final stages of launching ZamZam bank in a couple of months. We would like to extend our appreciation for those who expressed their concern about our bank on different digital and other platforms.”
They also added, “Visit our Facebook page and website which will be re-launched soon for a vacancy and other useful information about the bank”.
Other Islamic Banks, such as Hijra Bank, Najashi Bank, and Zad Bank have also shown interest in acquiring a license to operate a fully-fledged islamic banking in Ethiopia.

Do you find this article interesting? Then read more reviews of other banks, or directly go to our review of ZamZam Bank.

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