East Africa Bank
East Africa Bank is a Sharia-compliant Islamic bank licensed in Djibouti in 2010, owned by Dahabshiil Group Holdings. It operates seven branches in Djibouti and a representative office in Addis Ababa, serving individuals, SMEs, corporations, and government entities across the Horn of Africa.
- Company typePrivate
- Founded2010
- HeadquartersJibuti, Djibouti
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What East Africa Bank does
East Africa Bank (EAB) is a Sharia-compliant Islamic bank licensed by the Central Bank of the Republic of Djibouti and launched in 2010. It is a subsidiary of Dahabshiil Group Holdings, one of the largest privately owned conglomerates in the Horn of Africa. The bank operates seven physical branches across Djibouti and a representative office in Addis Ababa, Ethiopia, anchoring a regional expansion footprint across the Horn of Africa. Its product architecture is built on Islamic financing contracts — Murabaha (cost-plus sale), Istisna (manufacturing/construction), Ijara (leasing), and Mudaraba (profit-sharing) — delivered through Personal Banking, Business Banking, and Corporate Banking divisions, with compliance validated by an independent Sharia Supervisory Board whose chair and members include AAOIFI-affiliated scholars.
The platform combines conventional banking rails with regional integrations: SWIFT connectivity for international payments and a correspondent banking network spanning the Middle East, Asia, Africa, and Europe; Mastercard-powered debit cards for global ATM acceptance; an online banking portal for transfers and utility payments; and a partnership with DJB Telecom Mobile Money for digital payments. Strategic infrastructure investments include an IFC Global Trade Finance Program guarantee (up to $5M) and an IFC advisory engagement to overhaul risk, trade, and credit management frameworks. Product breadth extends from current and savings accounts through trade finance, project finance (energy, infrastructure, mining across 20+ countries), and Istisna/Murabaha-based real estate financing.
Revenue mechanics rely on profit margins on Sharia-compliant financing rather than interest, supplemented by transaction fees from letters of credit, guarantees, payment services, and trade finance, plus Mudaraba-based deposit products with disclosed minimums (e.g., DJF 1,000,000 for fixed deposits). The go-to-market is dual: relationship-led enterprise and SME banking through dedicated relationship managers, and consumer-facing retail banking through the branch network, online platform, mobile banking, and debit cards. Customers span individuals, SMEs, large corporations, government and public sector entities, financial institutions, and importers/exporters in Djibouti and the wider Horn of Africa. Pricing is not publicly disclosed and is quote-based for most services.
East Africa Bank firmographics
Firmographics- Name
- East Africa Bank
- Legal name
- East Africa Bank
- Website
- https://eastafricabank.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- East Africa Bank is a Sharia-compliant Islamic bank licensed in Djibouti in 2010, owned by Dahabshiil Group Holdings. It operates seven branches in Djibouti and a representative office in Addis Ababa, serving individuals, SMEs, corporations, and government entities across the Horn of Africa.
- Ownership category
- akta.pro rank
East Africa Bank industry classification
Industry- Product category
- Islamic Banking
- NAICS
- Commercial Banking (52211)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Islamic SME & Commercial Banking (FSABAGAB)
- akta.pro secondary industries
- Islamic Retail Banking (FSABAGAA), Islamic Corporate Banking (FSABAGAC), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF)
Keywords
Where East Africa Bank is headquartered
LocationHeadquarters
- HQ city
- Jibuti
- HQ country
- Djibouti
Offices8 records
Markets served
East Africa Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Islamic Banking Products: Profit-based financing through Sharia-compliant products including Murabaha (cost-plus sale), Istisna (manufacturing contract), Ijara (leasing), and Islamic covered drawings. Revenue generated through profit margins on financing rather than interest.
- Trade Finance Services: Letters of Credit (Import/Export LC), Standby LC, Back to Back LC, Import bills collection, and trade-related guarantees generating transaction fees.
- Corporate Banking Services: Project finance advisory, financial institution services, payment services including internal/external fund transfers, demand drafts, dividend payments, and salary transfers.
- Deposit Account Services: Savings and current accounts under Mudaraba principle for unrestricted investment. Fixed deposit accounts with market-competitive profit rates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Fixed Deposit (Participation Account) with flexible profit rates based on amount slab and tenure, minimum DJF 1,000,000 |
| Transaction based/ take rate | Pay-as-you-go | Personal Finance with nominal processing fees |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
East Africa Bank product offering
Product offeringCore offering
East Africa Bank is a Sharia-compliant Islamic bank licensed by the Central Bank of Djibouti that provides personal, business, and corporate banking products. It offers current and savings accounts, fixed deposits, Murabaha/Istisna/Ijara financing, trade finance (letters of credit, guarantees), project finance, correspondent banking via SWIFT, and a Mastercard-powered debit card with global ATM access.
Product overview
East Africa Bank operates as a unified Sharia-compliant Islamic banking platform offering three main divisions: Personal Banking (current accounts, savings, fixed deposits, debit cards, motor-vehicle and home finance, utility payments), Business Banking (capital finance, business asset finance, trade finance, business current accounts, motor-vehicle finance), and Corporate Banking (financial institution services, project finance, trade services, real estate, collection services, payment services, guarantees). The bank is licensed by the Central Bank of Djibouti and backed by the Dahabshiil Group. Key Islamic financing products include Murabaha (cost-plus sale), Istisna (manufacturing/construction contract), Ijara (lease-to-own), and Mudaraba (profit-sharing investment). The bank has 7 branches in Djibouti plus a representative office in Addis Ababa, and provides digital banking via its online platform. Partnerships include IFC for trade finance guarantees and risk management, Mastercard for debit cards, SWIFT for international payments, and DJB Telecom for mobile money services.
Differentiator
Problem solved
Functional benefit
Products and services
- Current Account Sharia-compliant facility for day-to-day transactions with a checking option and MasterCard Debit Card access for individual personal banking customers.
- Current Joint Account Sharia-compliant facility allowing joint management of day-to-day transactions with a checking option, for two or more individual account holders.
- Savings Account Sharia-compliant conservative investment option for storing additional funds safely, with access to debit card and e-banking for individual customers.
- Fixed Deposit (Participation Account) Sharia-compliant investment account operated under unrestricted Mudaraba principle with flexible profit rates based on amount slabs and tenure, minimum DJF 1,000,000.
- EAB Debit Card Mastercard-powered debit card offering worldwide acceptance, global cash access, online purchases, enhanced security, and contactless feature via the largest global ATM network.
- Motor-Vehicle Finance (Personal) Murabaha-based personal vehicle financing where the bank purchases the car from an authorized dealer and sells to the customer at an agreed mark-up with installment payments, requiring 20% down payment.
- Home Finance Ijara-based home financing product where the bank leases property to the customer for rental payments during the financing period, with title transfer at the end of the term.
- Personal Finance Sharia-compliant personal financing for merchandise, furniture, electronics, loan settlements, travel, education, or medical services, with nominal processing fees.
- Utility Payments Online payment services for electricity bills and internal account-to-account transfers via the EAB online banking platform, enhancing customer convenience.
- Business Current Accounts Sharia-compliant business checking account in DJF and USD with cheque book, unlimited transactions, free monthly statements, e-banking access, payroll service, and LC/LG services.
- Capital Finance Business expansion financing for asset acquisition or cash needs with quick processing turnaround time and tailored financial packages.
- Business Asset Finance Direct and specialized funding for small businesses to purchase new assets or refinance existing assets, with quick processing and low collateral requirements.
- Trade Finance Letters of Guarantee, Letter of Credit (sight/deferred/acceptance/negotiation), import financing via Murabaha under LC, and documentary remittance services.
- Business Motor-Vehicle Finance Vehicle financing for businesses with settlement period up to 60 months, competitive profit rates, and flexible down payments.
- Corporate Banking (Murabaha, Istisna, Ijara) Islamic banking solutions including Murabaha, Istisnaa, Ijara, and Islamic covered drawings for corporate clients including government, financial institutions, and private sector.
- Payment Services Internal, domestic, and international fund transfers; bankers cheques; demand drafts; dividend payments; and salary transfer services via SWIFT.
- Collection Services Cash and cheque pick-up, courier pick-up and delivery, PDC warehousing, and customized deposit slips for corporate clients.
- Real Estate Finance Istisna and Murabaha-based real estate financing for construction of buildings, residential units, villas, and related products.
- Guarantees Bank guarantee issuance enabling customers to acquire goods, buy equipment, or draw down loans for business expansion.
- Financial Institution Services Correspondent banking relationships and international payment services via SWIFT connecting with financial institutions in the Middle East, Asia, Africa, and Europe.
- Project Finance Project financing expertise for investors and international corporations with experience in power, energy, telecommunications, infrastructure, transportation, oil & gas, and mining across 20+ countries.
- Trade Services Sharia-compliant trade finance including Import LC, Standby LC, Back to Back LC, import bills for collection, and export services with Murabaha and Ijara financing options.
- Online Banking Platform Digital banking platform at online.eastafricabank.com providing account access, transfers, utility payments, cheque book requests, and e-banking services with multi-factor authentication.
Quantifiable outcome
- IFC trade finance guarantee of up to $5 million under GTFP supporting cross-border trade
Companies that use East Africa Bank
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
East Africa Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature3 records
East Africa Bank partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- MastercardcorePartnership with Mastercard for debit card issuance providing EAB customers with worldwide acceptance, global ATM network access, cash flexibility, online purchases, and contactless feature. EAB Bank cards connect to largest global ATM network.
- DJB Telecom Mobile MoneyminorPartnership for mobile money integration supporting digitization strategy aligned with UN 2030 sustainability development goals. Enables EAB to offer mobile payment services to customers.
- National Bank of KenyaminorVisit and discussions between National Bank of Kenya and East Africa Bank regarding areas of collaboration. Meeting held at EAB headquarters in Djibouti to explore potential banking partnerships.
Scale indicators5 records
Recent moves8 records
Expansion highlights5 records
East Africa Bank competitors and assessment
Company assessmentEmerging players
- ZamZam Bank: Ethiopia's first Islamic commercial bank, operating under the country's newly opened banking framework. Highly comparable as a fellow Islamic bank entering Ethiopia, the same market where EAB currently holds only a representative office.
- Hijra Bank: Ethiopian Sharia-compliant commercial bank targeting underserved Muslim populations. Relevant because EAB has signaled Ethiopia expansion via its Addis Ababa representative office, making Hijra both a peer and potential local partner.
Direct peers
- Salaam African Bank: Sharia-compliant commercial bank in Kenya serving retail, SME, and corporate customers with Islamic financing products. Closely mirrors EAB's three-tier (personal/business/corporate) structure and product set, making it the most direct regional comparable.
- Gulf African Bank: Kenya's first fully Sharia-compliant commercial bank, offering Murabaha, Ijara, and Mudaraba products across personal, SME, and corporate segments — directly comparable to EAB's Islamic commercial-banking model in East Africa, also advised by a Sharia Supervisory Board.
- Premier Bank (Somalia): Somalia's first and largest Sharia-compliant commercial bank, providing personal, business, and corporate banking under Islamic principles — a direct regional peer to EAB in the Horn of Africa Islamic-banking space.
Regional players
- Shabelle Bank: Somalia-based Islamic commercial bank offering Sharia-compliant retail, SME, and trade finance. Comparable to EAB as a peer Islamic bank in the same Horn-of-Africa region serving similar cross-border trade and remittance-driven customers.
- KCB Bank Kenya: Largest bank in Kenya by assets with regional East African footprint across Kenya, Uganda, Tanzania, Rwanda, Burundi, South Sudan, and DRC. Comparable to EAB as a regional commercial bank with cross-border ambitions in East Africa and trade-finance capabilities.
- National Bank of Kenya: Kenya's fourth-largest bank by assets; EAB held exploratory partnership discussions with NBK at its Djibouti headquarters. Comparable as a regional East African commercial bank exploring cross-border partnerships with EAB.
Broad incumbents
- Bank of Africa – Djibouti: Established commercial bank operating across multiple African markets including Djibouti. Comparable as an incumbent deposit-taker and trade-finance provider competing with EAB in the Djiboutian banking market (94% of which is bank-held).
- Standard Chartered – Djibouti: Global universal bank with a Djibouti presence providing corporate, trade, and correspondent banking — directly relevant as the type of correspondent counterparty EAB interfaces with via SWIFT, and a competitor for large corporate and trade-finance clients in Djibouti.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
East Africa Bank social profiles
Digital presenceEast Africa Bank compliance and trust
Trust signalCompliance3 records
East Africa Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
East Africa Bank leadership team
Management profileNumber of profiles
Profiles9 records
East Africa Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
East Africa Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about East Africa Bank
What does East Africa Bank do?
East Africa Bank is a Sharia-compliant Islamic bank licensed by the Central Bank of Djibouti that provides personal, business, and corporate banking products. It offers current and savings accounts, fixed deposits, Murabaha/Istisna/Ijara financing, trade finance (letters of credit, guarantees), project finance, correspondent banking via SWIFT, and a Mastercard-powered debit card with global ATM access.
Is East Africa Bank a public or private company?
East Africa Bank is a private company. It is classified as corporate owned and is currently operating.
When was East Africa Bank founded?
East Africa Bank was founded in 2010. It employs 11 to 50 people.
Where is East Africa Bank based?
East Africa Bank is headquartered in Jibuti, Djibouti.
How does East Africa Bank make money?
Four revenue lines are on record. Islamic Banking Products are the primary driver. The others are trade Finance Services, corporate Banking Services and deposit Account Services.
Who are East Africa Bank's main competitors?
Emerging players on record are ZamZam Bank and Hijra Bank. Direct peers are Salaam African Bank, Gulf African Bank and Premier Bank (Somalia). Regional players are Shabelle Bank, KCB Bank Kenya and National Bank of Kenya. Broad incumbents are Bank of Africa – Djibouti and Standard Chartered – Djibouti.
Does East Africa Bank have an API?
No public API is recorded for East Africa Bank.
What industry is East Africa Bank in?
East Africa Bank's product category is Islamic Banking. Its primary akta.pro industry code is FSABAGAB, Islamic SME & Commercial Banking, with a secondary code of FSABAGAA, Islamic Retail Banking. Its NAICS code is 52211 and its SIC code is 6021.