Zamzam bank has been given a property in Ledta sub-city (Senga tera area) for the construction of its headquarters building, that was disclosed during an event held today at the Sheraton Addis Hotel.
Najiba Abdullah, the director of the Lideta Sub-city Land Development Administration Representative Office, Dr. Nasir Dino, the chairman of the Zamzam Bank Board of Directors, other board members, the bank’s Sharia Advisory Board members, as well as other guests, attended the event.
According to Melika Bedri, the CEO of the bank, Zamzam Bank has asked the Addis Ababa city administration for property on which it can build its headquarters. Melika stated, “The government cabinet has informed us that the government cabinet has decided to give us a land of 4,135.66 square meters for the construction of the bank’s headquarters, by the letter written by the city government on May 15/2023.”
The bank’s approved building site, which is where financial institutions congregate in an area known as “Wall Street of Ethiopia,” according to the general manager, will be crucial to realizing the bank’s goals and boosting its competitiveness.
ZamZam bank S.C is the first bank to get a license from the National bank of Ethiopia to operate as a full-fledged Interest-Free Bank in the country. The purpose of the bank being to increase financial inclusion, with a particular emphasis on the segment of society that is excluded from the financial system owing to their religious convictions or other reasons.
