The Commercial Bank of Ethiopia (CBE) is to launch interest free banking service starting from Monday, October 28, 2013, in its 23 selected branches in Addis Abeba and in other major regional towns, Fortune reported.
The CBE has notified of the launching of its service and recieved approval from the National Bank of Ethiopia, according to Ephrem Mekuria, communication manager at CBE.
The Commercial Bank of Ethiopia (CBE), is to introduce three new categories of savings accounts, Fortune reported.
The latest class of saving accounts are categorized by age and gender, offers higher interest rates and other incentives.
The Commercial Bank of Ethiopia is to begin operating the core banking system by the end of January. Commercial Bank signed an agreement with the Temenos Group AG, a Swiss firm, to procure the IT software for an estimated 70 million birr.
The National Bank of Ethiopia instructed all commercial to adopt core banking solutions in July of last year. 
The use of core banking solutions is expected to achieve a nationwide electronic payment system according to the central bank’s targets.
The Commercial Bank of Ethiopia (CBE) is to provide over 1.6 billion Ethiopian birr in loans to Hiber Sugar Factory S.C., Capital reported citing the announcement made by the management of Hiber.
The Bank will provide 70 percent of the 2.3 billion birr project.
The Commercial Bank of Ethiopia is to purchase about 420 Automatic Teller Machines and 600,000 electronic payment cards at an estimated cost of 100 million birr.
Suppliers from China, India and the United states were among those that tendered technical offers to deliver the ATM’s required by the CBE.
