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. 1/n
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
2/n
You have either no idea what #IslamicBanking is and how it works or you consider other people as dump cause you have a Phd in Economics. I bet you have no clue about the #IFBWidnow service and other models #Subsidary & #FullFledged!
Are you or any other members of @ETHZema interested to learn about #IFB? I will be glad to help. @EthzemaLeader mentioned about #CBE & other commercial Banks currently giving Window service. Please do not force us to tell the bitter truth! we need #FullFledged#IFB Banks!
5/n
The windows are currently successful (for their Banks) and partly met the demand of the people who do not want to involve in #Interest/#Usury/#Riba. However, there are many untold stories about the industry!!!
The reason we are demanding to have other alternative models of #IslamicBanking & other #IslamicFinance institutions is not b/c we are "religious fanatics". It is b/c of our constitutional and economic right!
#Banks#Insurance etc are jumping in to this vast stream of #Economics as it is a business not a religious agenda. There are so many #Ethiopian professionals (not only #Muslims) educating themselves in #IFB#Takaful etc & serving the public!
We have banks that have "#Ethiopian" names but are in practice institutionally racist, exclusive & void of diversity in each & every aspect of their dealings.
Why do you then jump on Banks because of their names : #Amhara#Oromia etc...
Who has forbidden you from buying shares, depositing money or taking loans from these Banks? I also ask you the same question when it comes to #ZamZam or #Hijra. Did they forbid you from buying shares? Is there any one denied of serving in this Banks?
I advice @ETHZema@EthzemaLeader to be responsible in their polices & statements they give out to the public. I know many parties share your policies when it comes to #Muslims & issues like #IslamicBanking etc.. but do not underestimate half of #Ethiopia's population!!!
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
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
I was in my father’s birthplace (‘#Al_Ansha Meda’, between ‘#Boru_Meda’ & ‘#Kuta_Ber’, some 20 minutes drive from #Dessie) with my Dad two months ago. There are more than 1,400+ households in the area who have been deprived of electricity. #Wollo#GERD#AccesstoElectricity
I am not sure they will get electricity when #GERD starts. The residents bitterly complain that the current and previous administration deliberately ignored their plea to access road and electricity despite thier interest to co-finance it. #GoodGovernance#InclusiveGrowth
The paradox is that there is electricity across their village near the main road. Besides, there is also a construction (residential houses )near their village & they are frustrated why they were left behind. #GoodGovernance#InclusiveGrowth#Wollo#KutaBer#AlAnshaMeda#BoruMeda
#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