Zemzem Bank is the first Islamic Bank in the history of Ethiopia. Amounts of shares sold is also said to be record high. Image source : Zemzem Bank Facebook pageborkenaOctober 20, 2019Ethiopia’s first interest-free bank, Zamzam, reportedly sold record-high shares in the history of the financial sector in Ethiopia. A report by Capital, local business news source, this week said October 11 was the last date for selling shares for the new bank in Ethiopia, and the bank has sold 1.2 billion birr worth of shares. Ethiopia’s state bank, Commercial Bank of Ethiopia- the largest in the country, has entered the interest-free banking business following the announcement of Zemzem Bank.

Source: Ethiopian News October 20, 2019 19:30 UTC