ZamZam Bank is the first full pledged Islamic bank established in Ethiopia. It obtained a license on September 28, 2020 from the National bank to provide Interest free banking activities to customers in the country.

Bai’ Salam

Bai’ Salam is a type of Shari’ah mode of financing through which the Bank pays the full contract price of goods/commodities in advance at the time of contract for the purchase of goods/commodities that will be delivered by the supplier at a specified time/date in the future. The Bank sells the same goods/commodities to a customer/third party through an independent Bai’ Salam contract agreement.