Amhara Bank clients will get interest-free banking (IFB) which allows them to have segregated transactions with regular bank accounts. The Bank launched a separate core banking system (multi-company multi-book) dubbed Marhaba last week. The ceremony saw the attendance of representatives from the central bank and board members. Amhara Bank has been providing the service since its establishment and mobilised a 300 million Birr deposit from more than 35,000 clients. Bank executives said they are working towards opening 30 IFB branches by the end of the year. Established in June 2022, with 200,000 shareholders and a paid-up capital of 4.83 billion Br, the Bank has finished preparation to proceed with IFB digital microfinance loan services offers in the near future.
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