Zemen Bank, renowned for delivering modern banking services through innovation and technology, has announced the official launch of its interest-free banking service under the brand name “Z-Qamar.” The bank stated that it will deliver this new service nationwide across its 142 branches through fully dedicated windows and standalone specialized branches tailored for this purpose.
During his opening speech at the service’s launching ceremony, Zemen Bank’s CEO, Dereje Zebene, highlighted that this Sharia-compliant service marks the next chapter in the bank’s 17-year journey of excellence. Recalling that the bank operated with a limited number of branches shortly after its establishment, he emphasized that it is currently expanding its horizons to achieve universal accessibility based on community needs.
The CEO further explained that the service name “Z- Qamar ” combines Zemen Bank’s signature “Z” with the Arabic word ” Qamar,” which translates to “Moon.” This symbolizes quality, sustainability, modernity, and innovation. He assured that the service will be delivered to customers with the highest level of integrity, strictly adhering to required Sharia principles and core values.

“Interest-free banking is not just a matter of faith; it plays a paramount role in expanding financial inclusion, bringing untapped economic potential into the formal financial system, and achieving sustainable development goals,” Dereje stated.
Accordingly, through “Z- Qamar,” customers can efficiently access savings, investment, trade finance, and digital banking services aligned with Sharia principles in a customer-centric manner. It was also noted during the event that to bring this project to fruition, members of the bank’s Sharia Advisory Board, the Board of Directors, and the National Bank of Ethiopia and the bank’s staff have been engaging in intensive preparation and strategic support over the past two years.





