Challenges And Prospects On Cbe Noor In Case Of Commercial Bank Of Ethiopia, Merkato District

Abstract

This study was initiated to examine challenges and prospects on CBE NOOR banking services in Ethiopia with particular reference to the Commercial Bank of Ethiopia merkato district, Full-fledged interest free banking. The study was employed descriptive research based on survey. A total population of one hundred two sample respondents were taken through census method since, the population of the study was small. The data was analyzed using descriptive statistics of frequency and percentage using SPSS version 27 software. The study was focus that capacity of the bank, level of demand of the products, religious and cultural differences were challenges, whereas economic process, attraction of investor, and fostering investment square measure the probably prospects of the bank. To attain the objectives the study used both primary and secondary data which are quantitative and qualitative in nature and collected through structured and semi structured questionnaire and interview for position holders. The study revealed that CBE NOOR banking services can bring extra capability within the economy in reference to extra resource for the bank, investment chance, reaching unbanked customers and expand employment opportunities. Accordingly, the following recommendations were forwarded by the researcher based on results of the findings in conjunction with literature review of reflections. Provide sustainable and continuous training to build the capacity of the man power, make the service ready for both Muslims and non-Muslims religion followers and adding number of Muslim employees to make balance. In general, it is advisable for the bank to sustain all its current strength, and improve its limitations mentioned above to challenge future uncertainties for the proper implementation of CBE NOOR and the success of its employees and the bank overall.