Tunisia reports annual growth of 23% in Islamic banking products
A new report by the central bank highlights the progress of this method of financing.Islamic banking products have a significant growth potential in Tunisia, with an annual average growth of 23 per cent during the period 2010-2015, according to the Annual Report on Banking Supervision 2015, which has just been published by the central bank.
Total deposits in these banks amounted to 2,501 million dinars (€1,034
million) at the end of December 2015, while total credits reaching 1,930
million dinars, African Manager reports.
In addition, the total assets within Islamic banks amounted to 4,038
million dinars in 2015.
This comes as the central bank is considering a request for the creation of a new Islamic bank and only a few months after the adoption of a new law creating a frame for this method of financing.
Currently, Islamic banking products account for only five per cent of banking assets in Tunisia.