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The Commercial Bank of Ethiopia has inaugurated the second full-fledged Interest-free banking branch dubbed “Mecca Branch” in Addis Ababa on October  9, 2019.

A deposit of over 50 million birr was made during the inauguration ceremony.

CBE President and CEO, Ato Bacha Gina said on the occasion that the bank had assigned ulemas who advise the bank on the implementation of the Interest-free banking.

The ulemas with deep knowledge wide experience and good reputation  influence customers who used to shy away from banks due to interest, he added.

Islamic Affairs Supreme Council President, Mufti Hajji Umer Edris  said on his part the Commercial Bank of Ethiopia deserves appreciation for opening such full-fledged Interest-free branches, which demonstrates the bank’s commitment and a spirit of service.

Hajji Umer Edris further urged the Muslim community to make use of these special branches since the bank is now expanding Interest-free banking branches.

Customers who attended the inauguration ceremony have also expressed their pleasure on the opening of Mecca branch as well as other Interest-free branches.  

It is to be recalled that CBE had inaugurated the first full-fledged Interest-free branch, Billal Branch, on  September 7, 2019.