CBE Noor is one of the full-fledged interest free banking services streamed to those interested in and who are not able to accessconventional financial services due to religious rationale. The Service is designed to comply with the centraltenets of Sharia (or Islamic law) of doing business and NBE’s directive No. SBB/72/2019.

  • Profit Equalization Reserve: – is a fund left from Net Income of the pool during periods when the profit to be paid to customers are above market price, which helps to smoothen the regular profit payment to the depositors. In other words, the PER used to improve the returns to the depositors during periods when the pool’s profits are below market expectations.
  • Profit Distribution:The distribution of profit or loss on Mudaraba Saving Account or Mudaraba Deposit Account is depend on the profit or loss involved in financing product or investment. Profits are distributed after the bank has collected commission income and other similar incomes for the service of financing.

CBE NOOR Legal Maxim

General Permissibility: – everything is allowed unless specifically prohibited by the Sheria Law. Consistent with sharia, the following undertakings are not allowed to utilize interest free banking services:

Prohibited by the Sheria Law

Running pig farm and pork trading
Alcoholic beverages production and alcohol trading
Gambling and related activities such as running casinos as well as other activities
classified as harmful to the society in general

Terms And Conditions

Mudaraba Account will be deemed to be closed when a customer withdraws the whole of his/her balance over the counter, leaving a nil balance in the account.
A minimum balance of Birr 1,000 must be maintained in the account for profit distribution purposes.
The Bank reserves the right to reject any deposits derived from Sharia non-compliant activities.
The customer is required to examine all entries in the pass book and report at once to the Bank any errors, irregularities or unauthorized withdrawals & missing entries.
As a condition of withdrawal over the counter, the customer/representative/agent shall present personally, and provide ID together with passbook.
The Bank shall issue a deposit slip to the customer when depositing cheque or cash
The customer must ensure that receipts bear computer validation, be stamped & endorsed by authorized officer of the Bank before leaving the bank’s premises
Receipts are valid as an acknowledgement of deposit if they bear such endorsement

Partnership Financing


Cbenoor services

Local and foreign Remittance /Hiwalah/;
Foreign currency exchange services/Serf/;
Letter of Guarantee /Kafala/
Bill payment and Collection;
Salary Payment;
Standing instruction;
Safe Deposit Box;
Sales and Distribution of public shares, and
Cash Pickup service.


Ordinary saving and Investment accounts;
Almerah/Women/ Savings and Investment accounts;
Ashebab/Youth/ saving and Investment accounts;
Almerahiq/Youth teen/ saving and investment accounts;
Atea’lim/Education/ saving and Investment accounts;
Lebbaik/Hajj/Umrah/ saving account;
Zakat/Tithe/Alms/saving account;
Nikah/Weeding/ saving account;
Eid/Holiday/saving account;
Muday saving Account;
Diaspora Mortgage Accounts;
Time deposit investment;
ECX account
Foreign currency account (NRT/NRNT).