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Islamic Finance Briefing - Categorized | Banking, Performance more

Tanzania: Amana Bank Limited grow stronger

Posted on 09 May 2013

Amana Bank Limited, Tanzania’s first fully Sharia compliant bank has announced its audited financial results for the financial year ended 31 December 2012, reflecting strong growth in financing and deposits. This is the bank’s first full year of trading having commenced operations in November 2011. The bank started financing in April 2012 and by December 2012, the bank had disbursed total financing facilities amounting to TZS26 Billion.
The bank recorded TZS1.2 billion income from financing activities and TZS1 billion from non-funded income. The Bank closed the year with total mobilised deposits of TZS 34 billion. Total assets of the bank grew by 100% to TZS52 billion………………………………………..Full Article: Source

 
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