Oromia bank and Ethiopian Islamic Affairs Supreme Council sign a Memorandum of Understanding to work together in certain areas including on providing interest-free banking services.
The agreement was signed on Thursday December 29, 2022 at the Hyatt regency hotel by Teferi Mekonnen, CEO of Oromia Bank and Sheikh Haji Ibrahim Tufa, president of the Supreme Council of Ethiopian Islamic Affairs.
As Oromia bank’s CEO indicated during the signing ceremony, the financial firm has been providing full interest free banking services across its 32 branches.
He also mentioned that the memorandum of understanding will enable the one-window interest-free service provided by all its branches to be delivered in quality and scope.
Sheikh Haji Ibrahim Tufa on his end stated that the Supreme Council will continue to work with the bank, which has already started interest-free services for the Muslim community.It is said that the agreement will enable them to work on various issues between the institutions.