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.


Ijarah is a type of Shari’ah mode financing whereby the Bank (lessor), leases out the identified asset such as vehicles, building, machinery and equipments etc, either purchased or manufactured or constructed, to a customer (lessee) at an agreed rental payment and lease period. During the lease term, the ownership of the asset remains with the Bank (lessor) while the customer (lessee) only has the right to use the asset.