The Commercial Bank of Ethiopia (CBE) launched yesterday a specialized ‘Hajj for All’ Labbaik Saving Account meant to low-income Muslims would deposit money over a long period of time to perform Hajj and Umrah pilgrims in Mecca, Islam’s holiest city.
In his opening remark at the event, CBE President Abe Sano said that the bank launched the new service to help the faithful’s dream to perform the rituals in the birthplace of Islam into reality.
Taking advantage of the approaching Islamic month of Dhu al-Hijjah, which the Hajj takes place, the bank introduced the service that would enable the customer to deposit a certain amount of money as per the scheduled time set by the bank for the Pilgrimage, Abe added.
Highlighting the noble place the Hajj gets in Islamic teaching, the president stated that the bank, through its Sharia Compliant CBE Noor wing, launched the service that best fit with the special interest of its customers.
“CBE encourages Muslims to capitalize on the new service and materialize their dreams to perform the Hajj. “Hajj for All” is a program designed to better promote to the Muslim community and help develop a culture of saving.”
CBE Noor Vice President Nuri Hussein said for his part that ‘Hajj for All’ program helps Muslim customers who are eager and willing to perform Hajj or Umrah obligations to save for a long period and fulfill their desire. The launch of the service is important to the low-income Muslims to save and accumulate money over a long period of time without much challenge and customers can save more money than needed for Hajj and withdrawal is possible anytime.
Ethiopian Islamic Affairs Supreme Council President Mufti Hajji Omar Idris said on the occasion that the step CBE has taken in providing specialized banking service for the Muslim community is commendable.
The president advised the faithful to take the opportunity to deposit the money in the Labbaik Saving Account expressed his belief that the service would also enhance the Muslim community’s saving culture. During the occupation, Mufti Haji himself opened a Labbaik Saving Account.
The Hajj is the annual pilgrimage to Mecca that all able Muslims are expected to make at least once in their lifetime. The Umrah is also an Islamic pilgrimage to Mecca that can be undertaken at any time of the year, in contrast to the Hajj, which has specific dates according to the Islamic lunar calendar.
The Ethiopian Herald July 9/2021- ESSEYE MENGISTE