Noor Islamic Bank opens office in Tunisia

images18Noor Islamic Bank (NIB) has opened a representative office in Tunisia to offer banking services in the North African countries, making it the bank’s first overseas operation.

The regional office is located on Hadrumete Street, 2 Mutuelleville in the capital Tunis. It will focus mainly on investment and corporate banking, and will also channel investment opportunities from the GCC into North Africa, including Egypt, Libya, Algeria, Morocco, Tunisia and Mauritania.

Hussain Al Qemzi, group chief executive of Noor Islamic Bank and Noor Investment Group, said, “The UAE is investing billions of dollars in Tunisia and North Africa as part of its commitment to drive economic growth in the Arab world. We would like to build on this legacy and sustain the synergy with the Tunisian government and institutions, and the North African region.”

The Tunisian economy has been growing at a steady rate and the government of Tunisia predicts an average growth rate of 6.3 per cent over the next decade. As the largest Arab investor in Tunisia and the North Africa region, the UAE’s investments in the country have exceeded $22 billion.

First branch of Emirati Islamic Bank, ‘Noor’ opens in Tunis

e2_s_The first branch of the Emirates based Islamic Bank “Noor” opened in Tunis . The bank’s Tunisian branch which is also the first outside the United Arab Emirates , will provide banking services and solutions to the North African region.During a press conference given in Tunis on Friday, the bank’s General Manager, Mr Hussain Al Qemzi, said that the bank aims at strengthening cooperation with North Africa in general and Tunisia in particular, as well as making the most of the opportunities offered by the region.

He also cited Tunisia ’s political and social stability, as well as its sustained economic growth as the main factors that have prompted the decision to set up a branch in Tunisia .

For his part, the director of “Noor’s” Tunisian branch, Mr Sadok Attia, said that the bank will facilitate important transactions, as well as financing projects in the North Africa region.

“Noor” was set up in 2006 in Dubai and launched its operations in January 2008.