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Islamic Development Bank Institute Implements Islamic Banking Capacity Building Program in Ethiopia

The Islamic Development Bank Institute (IsDBI) has conducted a capacity-building program for the Ethiopian banking sector. The program, titled “Unlocking the Potential: Practical Insights for Islamic Banking Success”, took place in Addis Ababa, Ethiopia from 4-7 March 2024.

Senior management and board-level officials from multiple Ethiopian commercial banks, totaling over 35 participants, attended the program. The inauguration was done by H.E. Solomon Desta, Vice Governor of the National Bank of Ethiopia.

The training focused on competitive product development and strategic business growth in an enabled ecosystem, following a ‘train-the-future-trainers’ approach. The goal was to accelerate the growth of interest-free banking in Ethiopia, contributing to national financial inclusion and economic development.

Sessions included group work where participants collaborated to design innovative, Shari’ah-compliant financial products tailored to the local market while meeting regulatory requirements. Discussions on a strategic roadmap for future sector growth were also held, providing recommendations to stakeholders on improving the ecosystem and expanding interest-free banking in Ethiopia.

The program was developed internally by the IsDB Institute and led by Mr. Syed Faiq Najeeb, Senior Islamic Finance Specialist, with support from Dr. Farrukh Habib as a training consultant.

Participants praised the program for boosting their capacity in interest-free banking products in Ethiopia. The closing remarks were made by Mr. Frezer Ayalew, Director of Banking Supervision at the National Bank of Ethiopia.

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

Media contact:
Habeeb Idris Pindiga
Associate Manager
Knowledge Horizons
hpindiga@isdb.org

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About the Islamic Development Bank Institute:
The IsDBI is the knowledge hub of the Islamic Development Bank Group, focusing on supporting the sustainable economic advancement of IsDB Member Countries and Muslim communities worldwide. Through research, human capital development, and knowledge management, the IsDB Institute works to enable economic development, particularly in Islamic finance ecosystems, to help Member Countries achieve their development goals. More information is available on www.IsDBInstitute.org.

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