Abdi Seid
Ethiopia has approximately 22 times more muslim population than South Africa and five times more than Kenya muslim population. Until now we don’t have an Islamic banking service. Though, there is one on the process-Zamzam Bank. In South Africa with a muslim population of 1.5% there is one independent Islamic bank Albaraka operational since 1989. In addition there is a conventional bank ABSA through its Islamic division provide service to the muslims since 2006. There are other investment firms too.
Kenya has two Islamic banks: Gulf Africa and First Community Bank. The Insurance industry in Kenya also is in the process of developing Sharia compliant products and services.
As we see the success story of these two countries which has by far has less muslim population than Ethiopia, it can be said that what matters isn’t the number of population but how organized and dedicated the society is to promote and live up to its Islamic values and principles. We Ethiopians have to learn from this example of success story and work hard to promote and establish Islamic banking services in our country.
Gulf African Bank banking hall. Islamic banks are stepping up their foray into Sub- Saharan Africa.
September 5, 2009 at 3:20 pm |
Dear Editor we understood your good will. but Ethiopian Muslims story is not something our wikness but the enemy of Muslims are much more stronger than the less organized Muslims.
BADR has attempted to address this issue when they traveld to see the priminster during their visite in 2007. However the priminster not the one who blocked it but the national bank. May Allah help us to over come all this pridicaments amin