Tunisia looks to become Islamic finance centre

Authorities in Tunisia hope the country can become a regional hub of Islamic banking activity, generating jobs for thousands of citizens.

With a newly liberated political atmosphere and a developing free market, Tunisia is looking to become a centre of Islamic finance in the Maghreb.

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Islamic banking was the focus of a recent forum in Gammarth where experts, bankers and political leaders discussed ways Tunisia could lead the region in expanding economic opportunities. The July 15th-16th conference, organized by the General Council for Islamic Banks and Financial Institutions (CIBAFI), also tackled issues of innovation and training in the emerging field.

Tunisian Finance Minister Jelloul Ayed told attendees that currently 96% of financial resources from Islamic banking are invested outside Muslim states, something he considered a lost opportunity. Continue reading