The National Bank of Ethiopia held a validation workshop on Ethiopia’s draft National Interest-Free Finance Strategy, presenting it as the next step in giving the country’s interest-free finance sector a clearer long-term direction. In remarks at the workshop, Vice Governor Solomon Desta said the strategy is intended to strengthen coordination and strategic alignment in a segment that the bank sees as already contributing to financial inclusion, savings mobilization and access to finance. The workshop brought together the Ethiopian Islamic Affairs Supreme Council, steering and technical committee members, bank regulators, microfinance institutions, insurance institutions and government entities. Participants were asked to review the draft strategy’s legal and regulatory roadmap for consistency with existing laws and the broader financial system, as well as its implementation timeline, prioritization framework and capacity-building needs. The review also covered the risk management framework, with particular attention to governance, Sharia compliance and systemic stability. The bank linked implementation of the strategy to continued coordination among policymakers, regulators, financial institutions, development partners, academia, industry associations, fintech companies and other stakeholders.
National Bank of Ethiopia2026-05-21
National Bank of Ethiopia holds validation workshop on draft national interest-free finance strategy
The National Bank of Ethiopia held a validation workshop on the draft National Interest-Free Finance Strategy, signaling a push to give the sector a more coordinated long-term framework. Participants were asked to review the legal and regulatory roadmap, implementation plan and risk management framework, including governance, Sharia compliance and systemic stability. The bank tied the strategy’s implementation to broad coordination across regulators, financial institutions and other stakeholders.