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First Islamic mutual fund created in Tunisia

Posted on 02 July 2012

The first Tunisian mutual fund complying with Islamic sharia law was established.General Director of the Fund of Deposits and Consignment (CDC) Jamel Belhaj announced the creation of “Theemar” as the first Islamic product of its kind in the market of alternative finance in Tunisia.
Capitalized at around 50 million dinars ($30 million), Theemar’s mission is to finance small and medium-sized enterprises with a priority on those located in Tunisia’s interior. “During the first phase, we aim to create up to 30 enterprises providing at least 1,000 jobs,” Belhaj said………………………………………..Full Article: Source

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