Hijra Open for Business

Sep 4 , 2021

The country's second full-fledged interest-free bank opened its doors on September 4, 2021, at its head office in the Bole Olympia neighbourhood on Democratic Republic of Congo Street. The Bank acquired the property, which lies on 3,000sqm of land, for 130 million Br in April this year, and plans to open 11 additional branches across Addis Abeba and elsewhere in the coming months. Hijra is starting operations with 700 million Br in paid-up capital of 1.2 billion Br subscribed from 10,000 shareholders, following in the footsteps of ZamZam Bank, which began operating a few months ago. Last month, Hijra inked a deal with Path Solutions, a sharia-compliant banking solution provider operating in several countries across the world, to acquire a core banking platform.