The Woman Behind Ethiopia’s First Interest-Free Bank Wins Global Honour

By Mintesinot Nigussie  |  August 29, 2026

Melika Bedri, chief executive of Zamzam Bank, has received a 2026 WOMANi Award in Kuala Lumpur, adding another international recognition to the career of the Ethiopian banking executive who has spent more than three decades in the industry.

Melika was recognised for her leadership and contribution to the growth and development of Islamic finance at the seventh annual WOMANi Symposium and Awards ceremony, held at the Hilton Kuala Lumpur on August 27. The event was organised by Cambridge IFA, a specialist institution focused on Islamic finance and the halal economy.

The ceremony brought together senior figures from Malaysia and the international Islamic finance industry, including Puan Marhamah Rosli, deputy minister in the Malaysian Prime Minister’s Department, and Humayon Dar, director-general of the Cambridge Institute of Islamic Finance.

WOMANi, short for Women in Islamic Business & Finance, was established in 2013 as a global initiative to recognise and connect women working across Islamic business, finance and the halal economy. The programme says it has engaged more than 5,000 women worldwide. Its awards recognise individual and institutional achievements in areas including leadership, innovation, financial inclusion and women's empowerment.

Bedri's recognition is not her first from the platform. She was listed as a recipient of the WOMANi Significance Award in 2024, making the latest honour a second recognition from the international initiative.

Zamzam Bank, meanwhile, occupies a distinctive position in Ethiopia's banking market. Licensed by the National Bank of Ethiopia in September 2020, it became the country's first full-fledged interest-free bank and began operations in June 2021.

The bank offers financial products based on Islamic finance structures including Mudarabah, Wadia, Murabahah and Musharakah. Its services include savings and financing, foreign-currency accounts, diaspora banking, trade services and remittances.

Melika brings more than 35 years of banking experience to Zamzam. Much of her career was spent at Commercial Bank of Ethiopia, where she held senior positions including acting president, chief financial officer and vice-president for treasury, information systems, and marketing and research.

Source: FSX Business News