|United Gulf Financial Services - North Africa has announced the launch of its 'Themar Investment Fund', the Islamic Sharia law compliant fund. It has a capital of TND50m (approximately $32m), to be financed by the Islamic Corporation for the Development of the Private Sector and the Deposits and Securities Fund of Tunisia.
UGFS - North Africa is an investment company based in Tunisia. It is a subsidiary of the Bahrain-based United Gulf Bank, a member of the KIPCO Group. Themar is the largest Sharia-compliant Tunisian investment fund under the Tunisian Monetary Authority. The fund targets small and medium Tunisian institutions seeking financing in different business sectors that support the Tunisian economy. Priority is given to existing and restructured projects in urban areas. (Press Release)