Al-Zaitouna Opens as 1st Official Islamic Bank in Tunisia Economics
-- Al-Zaitouna bank was inaugurated in Al-Karm area Friday by the Tunisian Minister of Finance Muhammad Rida Chalghoum as the first Islamic commercial bank of its kind in the country to provide financial and banking services according to the Islamic law or Sharia.
The bank was founded at a total capital of Tunisian Dinars (TND) 35 million, about USD 27 million, by renowned Tunisian businessman Muhammed Sakhr Al-Matri along with seven other shareholders representing the biggest Tunisian private enterprises.
The inauguration ceremony of the bank, headquartered in Al-Karm district in a Tunisian traditionally architectural-styled building, was also attended by governor of the Tunisian Central Bank Tawfik Bakar and the bank's founder and renowned Tunisian businessman Muhammed Sakhr Al-Matri along with a galaxy of businesspeople and banking professionals.
Al-Matri, the founder of this Islamic bank, described this project as "a dream that came true", noting that this banking institution will contribute to entrenching a new concept of the banking profession through providing state-of-the-art banking tools and derivatives that integrate with is offered by other banks and target the public along with professionals and institutions.
On his part, Bakar asserted that this new bank will strengthen the Tunisian banking texture -- that currently boasts of 20 institutions -- through diversifying the services provided by the banking institutions to the public and to turn the country into a regional financial hub.
Further, Bakar said that this institution which "will work according to the Tunisian legislations in the banking field," will offer 30 new services through opening four branches in the first stage that will be furthered with other branches all over Tunisia later on." As for the director general of Al-Zaitouna bank Abu Hafs Omar Al-Nagaei, he affirmed that his bank that was officially launched today is "a comprehensive financial institution that tackles all activities carried out by conventional banks" along with providing new banking services.
He concluded by saying that the bank will have 8 branches in Tunis, Sousse and Sfax in its first stage before it opens another 400 branches all over Tunisia before 2014.
Source: KUNA
The inauguration ceremony of the bank, headquartered in Al-Karm district in a Tunisian traditionally architectural-styled building, was also attended by governor of the Tunisian Central Bank Tawfik Bakar and the bank's founder and renowned Tunisian businessman Muhammed Sakhr Al-Matri along with a galaxy of businesspeople and banking professionals.
Al-Matri, the founder of this Islamic bank, described this project as "a dream that came true", noting that this banking institution will contribute to entrenching a new concept of the banking profession through providing state-of-the-art banking tools and derivatives that integrate with is offered by other banks and target the public along with professionals and institutions.
On his part, Bakar asserted that this new bank will strengthen the Tunisian banking texture -- that currently boasts of 20 institutions -- through diversifying the services provided by the banking institutions to the public and to turn the country into a regional financial hub.
Further, Bakar said that this institution which "will work according to the Tunisian legislations in the banking field," will offer 30 new services through opening four branches in the first stage that will be furthered with other branches all over Tunisia later on." As for the director general of Al-Zaitouna bank Abu Hafs Omar Al-Nagaei, he affirmed that his bank that was officially launched today is "a comprehensive financial institution that tackles all activities carried out by conventional banks" along with providing new banking services.
He concluded by saying that the bank will have 8 branches in Tunis, Sousse and Sfax in its first stage before it opens another 400 branches all over Tunisia before 2014.
Source: KUNA
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