Zitouna Tamkeen opens 13th branch in El Mourouj | Tunisia News Gazette

Zitouna Tamkeen opens 13th branch in El Mourouj

Islamic micro-finance institution Zitouna Tamkeen, on Friday, launched its 13th branch in El Mourouj district (Ben Arous governorate).

It is part of the network of branches covering Tunis, Sfax, Sousse, Jendouba, Kairouan, Beja, Sidi Bouzid, Kebili, Bizerte, Nabeul, Ariana and Bardo, CEO of Zitouna Tamkeen Nabil Ghaleb told TAP correspondent.

This microfinance institution aims to establish 20 agencies by the end of 2018 and 40 agencies by the end of 2019, in order to bring the services closer to customers, to contribute to the promotion of regional economic activity and prompt youth to create their own projects.

He stressed that the objective is to reach 80 thousand clients during the next five years, compared to the 2,500 current recipients.

Besides funding, the bank provides coaching for impoverished groups and young graduates, by offering them high quality financial services and non-financial services such as training, project engineering and support in different phases of the project, the CEO of Zitouna Tamkeen said.

The objective is to create social and economic development projects, he added.

Zitouna Tamkeen has chosen the governorate of Ben Arous due to its industrial and agricultural nature, in addition to the financial services the institution can offer to encourage artisanal and commercial activities in the governorate.

Deputy director Jalel Baklouti pointed out that the bank offers funding of nearly 20 thousand dinars and responds to funding requests in reasonable deadlines with advantageous procedures, noting that the non-recovery rate is only 0.5%.

Governor of Ben Arous Abdellatif Missaoui pointed out that the governorate recorded a high demographic growth between 2004 and 2016.

The number of inhabitants reached 190 thousands inhabitants, hence the need to develop training mechanisms for impoverished groups, especially youth.

Zitouna Tamkeen is the first Islamic micro-finance institution in Tunisia. It was founded in December 2015 and started operations in August 2016.

Source: TAP News Agency

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