Reframing Success for Interest-Free Banking in Ethiopia

Aminu Nuru argues that Ethiopia's emerging interest-free banking sector needs to redefine its metrics for success. He suggests that simply tracking deposit volumes and financing totals, such as 10 billion Birr or 30 billion Birr, fails to demonstrate the sector's true impact. Instead, he proposes that the industry should shift its focus toward 'value-based banking.' This approach emphasizes transparency, fairness, and direct contributions to the real productive economy. The author concludes that banks should compete on the quality of value created for customers rather than merely the volume of deposits gathered.