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.

Musharakah

Musharakah is a type of partnership financing between the Bank and the customer(s) in which profits and losses are shared among them according to a pre-determined formula. Profit sharing need not be based on the proportion of shares owned, but liability is limited to the contributions of the shareholders.