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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Islamic banks to enter financial sector in Ethiopia

Posted on 08 September 2010

From Nazret.com: Finally responding to a strong public demand, the National Bank of Ethiopia (NBE) is about to approve a directive that paves the way for the establishment of Islamic banks. The directive also opens doors for currently operational commercial banks to create an interest-free banking wing.
“Existing banks may create interest-free banking windows and Ethiopian nationals may establish a bank exclusively engaged in interest-free banking,” the NBE draft directive reads……………………………………….Full Article: Source

 
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