Cooperative Bank of Oromia inaugurated two full-fledged interest-free banking (IFB) branches in the capital at Ayer Tena and Bole Michael on December 18, 2019.
Cooperative Bank of Oromia inaugurated two full-fledged interest-free banking (IFB) branches in the capital at Ayer Tena and Bole Michael on December 18, 2019. The Bank, which has 389 branches, becomes the third to open a full-fledged interest-free branch next to Commercial Bank of Ethiopia (CBE) and Awash Bank. CBE inaugurated the first full-fledged IFB branch around Bole Michael on September 7, 2019. It also opened four more full-fledged IFB branches in September and October. Awash Bank started IFB services with its new branch dubbed "Ikhlas" in Bethel area. In 2013 the National Bank of Ethiopia issued the directive that limited IFB to a window service. Following that, 11 of the 17 private and state-owned banks had been providing the service. However, last June, the National Bank of Ethiopia issued the directive for the establishment of full-fledged interest-free banking (IFB), on June 18, 2019. Cooperative Bank generated 3.7 billion Br in income last year and disbursed a total of 24.4 billion Br in loans and advances.
November 27 , 2021
Against my will, I have witnessed the most terrible defeat of reason and the most sa...
November 20 , 2021
Leaders of the warring parties in Ethiopia`s year-old militarised conflict may think...
November 13 , 2021
Plans and reality do not always gel. They rarely do in a fast-moving world. Every act...
November 6 , 2021
Prime Minister Abiy Ahmed (PhD) stood to attention last week and saluted the high mil...
November 27 , 2021
Against my will, I have witnessed the most terrible defeat of reason and the most sa...
November 13 , 2021
Plans and reality do not always gel. They rarely do in a fast-moving world. Every act...
October 16 , 2021 . By HAWI DADHI
Residing in a country with no capital market, an organised marketplace for trading se...
August 28 , 2021 . By HAWI DADHI
The streets of Addis Abeba are as varied as they are many, although too many of them have yet to be named. From the narrow alleyways of the...
