24 October 2009
Tunis — The Constituent General Assembly of Zitouna Bank, was held on Wednesday in Tunis. The assembly discussed the final approval of the launch of the bank and the appointment of new directors and auditors.
Zitouna bank, Tunisia's first Islamic Bank, which will provide services to individual customers as well as Tunisian and international enterprises and investors, will be launched with a capital of 30 million dinars.
Mr. Mohamed Sakhr El Materi, the founder of Zitouna Bank and who is also the CEO of "Princesse Group Holding" is the bank's main shareholder with over 51% of capital, Other shareholders include the insurance group CARTE , "Poulina Holding", TTS (tourism), Délice Danone (agro-food), UTIC (distribution) and the Bouchamaoui Group shareholders.
During the meeting, Mr. Mohamed Sakhr El Materi was appointed as Chairman of the Board, Mr. Mahfoudh Barouni, as CEO and Walid Koubaa, as the Bank's deputy director.
On the sidelines of the meeting, Mr. Mohamed Sakhr El Materi, the Chairman of the Board, stressed that the creation of the bank reflects President Zine El Abidine Ben Ali's interest in strengthening Tunisia's banking services and financial sector.
The Chairman of the board also underlined that this bank is endowed with all necessary conditions for success, saying "We have called for the best international expertise and Tunisian skills in the financial and banking sector and mainly those specialized in Islamic finance".
The bank is scheduled to begin operations during the first term of 2010.
Be the first to Write a Comment!
Copyright © 2009 Tunisia Online. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
