Abay Bank S.C, Ethiopian Pharmaceuticals Manufacturing S.C (EPHARM) and MedTech Ethiopia PLC have signed a Memorandum of Understanding (MOU) to work in partnership with Abay – Sadiiq Interest Free Banking services.

Interest Free Banking Director of Abay Bank, Abubeker Nezir, Chief Executive Officer of EPHARM, Shimeles Mamuye and Chief Executive Officer of MedTech Ethiopia, Solomon Nigussie have signed the MOU. 

The agreement includes provision of various credit services and products to employees of Ethiopian Pharmaceuticals Manufacturing S.C and MedTech Ethiopia PLC through the Bank Interest Free Banking services. In addition, the agreement includes granting EPHARM and MedTech Ethiopia PLC employees’ salary payments via the Bank and other financial services.   

Abay Bank is providing interest free banking services with its Sadiiq- Interest Free Banking Service in accordance with Sharia and financial principles.