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Company Profile – Rammis Bank

Company Profile

Rammis BankS.C.

Rammis Bank S.C., a fully-fledged interest-free bank in Ethiopia, was established on October 04, 2022, with a vision to become the hub of interest-free banking in East Africa.

Rammis Bank S.C., named after the Rammis River in eastern Ethiopia, is well-positioned to drive sustainable economic growth in the country.

The bank’s subscribed capital of Birr 2.4 billion and paid-up capital of Birr 747 million, funded by over 8,200 shareholders, provides a strong foundation for the bank to cater to the financial needs of marginalized segments of society who may have been excluded due to religious beliefs or other factors.

With a strong shareholder base, a dedicated board and management team, and a skilled workforce, the bank is well-equipped to meet the needs of its customers.

Rammis Bank focuses on Sharia’h compliance, cutting-edge technology, and exceptional customer service and is currently expanding its branch network in the capital city and other regions through the implementation of innovative digital solutions.

These efforts will allow the bank to offer an increasing range of sharia-compliant and inclusive financial products and services, further solidifying its position as a leading financial institution in the country.

Vision

To be the hub of interest free banking in East Africa

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

Values

The bank has a number of values: some of the values are related to financial service operation, and others are related to its compliance with Shariah values, and these values are:
1. Continuous learning and adopting best practices
2. Honesty and transparency
3. Promote partnership and long-term growth
4. Strict compliance to Islamic principles and teachings
5. Adherence to corporate and social responsibilities
6. Adherence to individual and collective moral values
7. Caring for people who lacks collateral
8. Linking people with business through partnership