Rammis Bank S.C.

Rammis Bank is a fully-fledged interest-free bank in Ethiopia, established on October 4, 2022. Its mission is to become a hub for interest-free banking in East Africa. Named after the Rammis River in eastern Ethiopia, the bank aims to drive sustainable economic growth while catering to marginalized segments of society, particularly those excluded due to religious beliefs.

With a strong capital foundation of Birr 2.4 billion in subscribed capital and Birr 747 million in paid-up capital, funded by over 8,200 shareholders, Rammis Bank is committed to providing Sharia’h-compliant financial services. The bank focuses on leveraging cutting-edge technology, exceptional customer service, and expanding its branch network, both in the capital and across other regions. Through these efforts, Rammis Bank is positioning itself as a leading financial institution in Ethiopia, offering a broad range of inclusive and Sharia’h-compliant products and services.

Mission:

To Provide excellent services and maximize value to all stakeholders in interest free banking that promote inclusiveness in finance by using competent employees and state of the art technologies

Vision:

To be the hub of interest free banking in East Africa

Core Values:

Core value of Rammis Bank is

• Continuous learning and adopting best practices

• Honesty and transparency

• Promote partnership and long-term growth

• Strict compliance to Islamic principles and teachings

• Adherence to corporate and social responsibilities

• Adherence to individual and collective moral values

• Caring for people who lack collateral

• Linking people with business through partnership

Rammis Bank has the following product and services

1. Digital Banking
2. Retail Banking
3. Financing
4. Retail Banking

1. Digital Banking

1. USSD
2. Mobile Banking
3. Internet Banking
4. Card Banking

2. Retail Banking

1. Wadia Savings Account
2. Hajj Saving Account
3. Investment Account
4. Temporary Saving Account
5. Foreign Currency Saving Account
6. International Banking
7. Domestic Banking

3. Financing

1. Muderabah & Musheraka
2. Murabaha
3. Ijarah
4. Istisnaa