After removing the shackles of socialist economic model, Ethiopia has opened up itself for competitive market economy. This has led to a boom in in privately owned businesses. Even banks and insurances, which once have been under the sole control of government, have now to deal with a cutthroat competition from privately owned counterparts.

Very lately, the incumbent government has given the green light for interest free banks. In response to this, all conventional banks have opened windows for interest free services while at the same time launching separate interest free banks. Still others have joined the market giving interest free banking services from the outset.

In fact, this is a great breakthrough for the Ethiopian economy for it can now exploit the untouched potential of hitherto marginalized communities and individuals that have been discouraged from dealing with interest due to ethical reasons. The importance of the decision by the government to allow interest free banks surfaces when we learn the speed at which the interest free banking market has flourished. This is a very important opportunity for those with ideas to get financing for their projects without being haunted by ethical dilemmas.

Accordingly, a few individuals with big ideas have ventured to establish Riders Trading and Manufacturing share company, with a vision of setting up one of the country’s top most business groups, while focusing nearly on all shariah compliant business sectors.