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Erudite AfricaCenter of Excellence
← Interest Free Banking Financing: Foundation

Serving IFB customers

Module 06 / 6 · 45 min

Explain IFB products in the right words, disclose cost, profit and schedule before signing, keep customer information confidential, manage conflicts of interest and escalate complaints and Sharia'h questions.

In this module you will learn to

  • Use IFB vocabulary correctly and avoid conventional terms
  • Disclose the cost, profit, sale price and schedule before the customer signs
  • Protect customer confidentiality and declare conflicts of interest
  • Escalate complaints and Sharia'h questions through the right channel
  • Answer respectfully a customer who says the IFB price is "just interest with another name"

Built on

  • Erudite Africa Investments course outline: Interest Free Banking Financing, Three-Level Course, Level 1 Foundation (October 2026)
  • A typical Ethiopian bank's interest free banking financing business procedure (May 2025), unnamed: definitions, governance, roles and team approach
  • NBE Directive No. SBB/72/2019, Licensing and Authorization of Interest Free Banking Business
  • NBE Bank Corporate Governance Directive No. SBB/91/2024 (influential shareholder at 2%)
  • AAOIFI Sharia'h Standards, including No. 8 Murabaha, No. 9 Ijarah, No. 10 Salam and No. 11 Istisna'; the host bank's Sharia'h Advisory Committee rulings take precedence

Examples and companies are fictional. Bank practices are shown as typical Ethiopian practice, not as any one bank's policy. Always apply your own institution's approved policy and the current NBE directives.