Interest free deposits – this is purposely designed to address the Muslim community financial services demands. According to the directives set by the National Bank of Ethiopia, interest free banking business is undertaken to serve the Muslim community based on the Islamic law and/or Sharia principles.
Moreover, there are also additional deposit products such as voluntary savings accounts and compulsory savings accounts. The voluntary savings account separately encompasses; loan client savings, non loan clients, government institutions loan, NGOs loan and under age savings.
