Ethiopia's Zam Zam Bank to open next year.amended a·mend
v. a·mend·ed, a·mend·ing, a·mends
1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive.
2. the country's banking regulations to allow interest-free banking. By August this year, officials of the bank, currently trading as Zam Zam Bank Share Company, said they had raised $19 million, surpassing the initial target of $14.4 million. A presentation made to prospective investors indicates that the bank requires working capital of $14.6 million, which will be kept in escrow escrow
Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. until 30 June 2012. Ethiopian law, however, limits the ownership of interest-free banking institutions to locals, thereby shutting out potential foreign investors.
2012 CPI (1) (Characters Per Inch) The measurement of the density of characters per inch on tape or paper. A printer's CPI button switches character pitch.
(2) (Counts Per I Financial. All rights reserved.
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