The Commercial Bank of Ethiopia (CBE) celebrated the 10th anniversary of its CBE Noor service, which offers interest-free banking according to Sharia laws.
CBE President Abe Sano highlighted the bank's leadership in providing free banking services in Ethiopia and announced that CBE Noor has garnered 6.8 million customers and operates through 1,939 branches across the country. Total deposits in CBE Noor exceeded Birr 107 billion, with 156 branches exclusively offering CBE Noor services.
The anniversary celebrations included awareness-raising activities, customer acquisition efforts, a blood donation program, and a donation of Birr 715 thousand to the Ethiopian Children's Heart Disease Center. CBE received the Retail Islamic Banking Award in 2023 for its financial performance and commitment to Sharia principles.
CBE’s Deputy Governor Solomon Desta emphasized the importance of banks in national development and advocated for inclusive financial systems to address wealth distribution, income inequality, and economic growth. He also highlighted the government's focus on expanding financial institutions, attracting foreign investment, and improving sector competitiveness. Acknowledgment was given to partner institutions contributing to the bank's development.
Source: Addis Zemen
