Addis Ababa, Ethiopia – February 27, 2025 (ABN)
In a significant demonstration of its commitment to social responsibility, Dashen Bank has donated 22.1 million Birr (ETB) to 31 local charities. The donation coincides with the bank’s celebration of the 7th anniversary of its pioneering interest-free banking service, “Sherick.”
Speaking at the anniversary event, Mr. Mesfin Bezu, Chief Officer of Dashen Bank’s interest-free service, underscored the bank’s dedication to ethical banking and community development. He revealed that the 22.1 million Birr donation was sourced from the Charity Fund, a pool of contributions collected from customers, and distributed to 31 local charitable organizations to support their impactful initiatives.
Mr. Mesfin Bezu further elaborated on the unique features of the “Sherick” service, which operates in strict adherence to Shari’ah financial principles and practices. The service ensures that no interest is paid or received on any transactions, offering an ethical and inclusive banking alternative. This model aligns with Dashen Bank’s broader mission to promote financial inclusion and accessibility across Ethiopia.
In addition to its charitable efforts, Dashen Bank has made remarkable progress in empowering women entrepreneurs. Through its interest-free banking service, the bank has disbursed 100 million Birr in interest-free loans to 1,000 women engaged in small and medium-sized enterprises (SMEs). These loans have played a transformative role in enabling women to grow their businesses, improve their livelihoods, and contribute to the local economy.
Over the past seven years, Dashen Bank has significantly expanded its reach, establishing 87 interest-free banking branches nationwide. This expansion reflects the bank’s unwavering commitment to ensuring that all Ethiopians, regardless of their financial background, have access to ethical and inclusive banking services.
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