Ethiopia

NBE regulates interest-free banking. Directive SBB/51/2011 requires a bank to get NBE's written authorisation to offer it, and NBE also lists Directive SBB/72/2019 on licensing and authorisation of interest-free banking business (a scan, not read). In November 2026 NBE added an Interest-Free Open Market Operations and Standing Facilities Directive (EPD/01/2026, 9 Nov) and an Interest-Free Interbank Money Market Directive (EPD/02/2026, 12 Nov), which refer to interest-free banks and windows licensed or approved by NBE.

• ““Interest-Free Banks” means a bank licensed by the National Bank to engage in interest-free banking services.”
  National Bank of Ethiopia · 2026-11-12
• “An Interest-Free Bank and Interest-Free Banking Window licensed or approved by the National Bank are eligible to participate”
  National Bank of Ethiopia · 2026-11-12
• “EPD/01/2026 – INTEREST-FREE OPEN MARKET OPERATIONS & STANDING FACILITIES DIRECTIVE”
  National Bank of Ethiopia · accessed 2026-11-14
• “A bank shall obtain a written authorization from the National Bank to carry on interest free banking business.”
  National Bank of Ethiopia · 2011
• “SBB/72/2019 Licensing and Authorization of Interest Free Banking Business”
  National Bank of Ethiopia · 2019

• ZamZam Bank S.C. · full bankBai Salam Sharia-compliant investment solution
• Hijra Bank · full bankHalalPay digital payment
• Bank of Abyssinia - AbyssiniAmeen (Interest Free Banking) · windowIFB deposit accountsIFB financing products
• Cooperative Bank of Oromia - Coopbank Alhuda · windowInterest Free Deposit Products (Wadiah Saving, Labbaik Wadiah Saving, Mudarabah Saving)
• Dashen Bank - Sharik Interest Free Banking · windowMudarabah Saving Account (IFB)Qard Current Account (IFB)
• Awash Bank - Interest-Free Banking · windowInterest-Free Banking (Wadiah, Mudarabah, Murabaha products)
• Oromia Bank - Interest Free Banking · windowAmanah Current Account

• “ZamZam Bank S.C.”
  National Bank of Ethiopia · accessed 2026-11-14
• “Hijra Bank S.C.”
  National Bank of Ethiopia · accessed 2026-11-14
• “The first full-fledged interest-free bank in Ethiopia”
  ZamZam Bank S.C. · not shown
• “Revolutionizing Interest-free Banking with the highest of ethics and sharia-compliant operations.”
  Hijra Bank · not shown
• “Bank of Abyssinia provides a specialized Interest-Free Banking service with a brand name of “AbyssiniAmeen””
  Bank of Abyssinia · not shown
• “Labbaik Wadiah Saving Account”
  Cooperative Bank of Oromia · not shown
• “Sharik Interest Free Banking”
  Dashen Bank · not shown
• “Mudarabah Saving Account”
  Awash Bank · not shown
• “Amana Checking Savings Account is a checkable interest-free banking deposit.”
  Oromia Bank · not shown

• “Type of Security: [Interest-Free Treasury Bill / Sukuk / NBE Certificate]”
  National Bank of Ethiopia · 2026-11-09

Only one secondary report was found: Middle East Insurance Review (Nov 2026) says Zemen Insurance launched a takaful window, Imani Takaful, on 16 Oct 2026. No NBE takaful directive appeared in the directives list, and Zemen's website showed no takaful content. Left null until a primary source is found.

• “Zemen Insurance, a private non-life insurer, has launched Imani Takaful, a dedicated Shariah-compliant insurance window”
  Middle East Insurance Review · 2026-11 · secondary

No Islamic, sukuk or interest-free directive appears anywhere in ECMA's full directives, draft directives, proclamation and guidelines lists (all three pages read). Full-text searches of the Capital Market Proclamation No. 1248/2021 and the Directive on Operation of Collective Investment Schemes (Sept 2026, 137 pages) found no such provisions. The Public Offering and Trading of Securities Directive 1030/2024 PDF is a scan and was not text-searched.

• Ethiopian Capital Market Authority · accessed 2026-11-14