Zamzam Bank has been given property in Lideta sub-city (Senga tera area) to construct its headquarters building, 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, Zamzam Bank 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 a 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 Zamzam Bank headquarters, by the official letter written by the city government on May 15/2023.”
According to the CEO, ZamZam Bank’s approved building site, a location where most financial institutions congregate in an area known as “The Wall Street of Ethiopia” 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. ZamZam Bank asserts its purpose as 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.