KEYIR NEWS:- In a landmark achievement reflecting both public trust and inclusive financial growth, the Commercial Bank of Ethiopia (CBE) announced that its interest-free banking service has exceeded 200 billion Birr in total deposits.
CBE, which pioneered full-scale interest-free banking in Ethiopia just over a decade ago, now serves more than 7.3 million depositors through its specialized CBC Noor service. The bank holds a commanding 51.3 percent share of the nation’s interest-free banking sector in deposits, cementing its leadership in this rapidly expanding financial segment.
“This milestone reflects the strong confidence our customers have placed in us, and the progress we’ve made toward inclusive banking,” the bank said in a statement thanking its clients and partners.
Over the past 11 years, the bank has provided over 150 billion Birr in financing to individuals and businesses participating in a range of sectors, empowering thousands to grow within an ethical financial framework aligned with their values.
Currently, more than 79.2 billion Birr in interest-free loans remains active, with CBE also leading in the financing arm of the sector, commanding a 48 percent market share.
Interest-free banking, guided by Shariah principles, prohibits the collection or payment of interest and instead operates on profit-sharing, leasing, and other partnership-based models. It has become increasingly popular among Ethiopia’s diverse population, particularly among communities seeking faith-compliant financial services.
With CBC Noor’s continued growth, the bank is not only supporting individual financial goals but also contributing to broader national development by fostering economic participation and financial inclusion.
As CBE continues to expand its reach and diversify its services, it remains committed to serving as a trusted partner for all Ethiopians, regardless of faith or financial background.