Discover and read the best of Twitter Threads about #zamzam
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I had asked @EthzemaLeader the following question after his controversial/deliberate remark against #IslamicBanking/#InterestFreeBanking (as it is called here in #Ethiopia). I have today watched another video of him where he tried to "Clarify" but continued to insult us more.
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First of all, he has tried to defend that he is not an #islamophobe by bringing #Muslim audience & that his grandmother was a Muslim. This is the same reply many persons give when they are confronted with their #Islamophobic attitude. #BerhanuNega is no different.
#Ethiopia
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#Ethiopia
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You can have #Muslim parents, lived with #Muslims fasted #Ramadan, eaten #Dates or #Sambusa etc you can still be an #islamophobe. One can claim to be a Muslim but in reality be the most #Islamophobic person that hates #Muslims and #Islam. It is a lame excuse!
#Islamophobia
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#Islamophobia
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Yesterday, we have witnessed the handing over of the 1st operational licence to the first full-fledged #InterestFree Bank #ZamZamBank which is a historic milestone in the #Ethiopia'n Banking industry. #IslamicBanking #IFB #FinancialInclusion
#ZamZam 1/n
#ZamZam 1/n
After the promoters of #ZamZam initiated the idea to the #NBE a directive was issued in October 1, 2011 to allow conventional banks only to give the service along with their commercial services. The #NBE's decision has saddened many. 2/n
#InterestFreeBanking #FinancialInclusion
#InterestFreeBanking #FinancialInclusion
11 Banks has so far started the service in a window model. Currently, these banks combined has mobilized more than 60 Billion Birr in deposits through 5+ million accounts. It is a huge amount compared to the low attention & investment given to #IFB by all stakeholders. 3/n
#Muslims r one of the most financially excluded citizens in #Ethiopia & their primarily reason is #Riba. But I wonder how & where the data for such reports are collected? "Financial inclusion in Ethiopia: 10 takeaways from the latest Findex" tinyurl.com/ydhmd738 via @WorldBank
Citizens who identify themselves as #Muslims account for 34% of the #Ethiopia'n population (CSA, 2007). This large segment of the society was demanding Shari'ah Compliant #finance for long time. Banks first responded by introducing 0% interest A/C #financialinclusion @WorldBank
Banks attracted millions of customers and mobilized billions of Birr in deposits. Sadly, customers were unaware that these deposits are not #ShariahCompliant and they were subjected to successive devaluations which has impacted them a lot. #financialinclusion #Ethiopia @WorldBank
