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HomeFeatured NewsTunisia: Zitouna Bank to be launched late Q1 2010.

Tunisia: Zitouna Bank to be launched late Q1 2010.

Since receiving approval in late December 2008, the founder and promoter of Zitouna Bank, Mohamed Sakher E Elmateri, President of Princess Elmateri Holding Group, has mobilized all the human, technical and financial means necessary to succeed in this project: “With a goal of launching the bank during the  first quarter 2010, we wanted to give this project all the ingredients to its  success by  drawing on best international expertise in the creation and launch of new banks, mainly those specializing in Islamic Finance “said Mohamed Sakher Elmateri.
Financial services, modern and  Islamic finance compliant .
The name chosen for this new financial institution, Zitouna Bank which will enrich the Tunisian financial sector, demonstrates, according to its promoters, its devotion to the roots of a country where the olive is an economic, cultural and historical symbol, and features, as mentioned  in its brand  logo, its willingness to share its values and beliefs with customers. But Zitouna Bank is also a confirmation of the Tunisian government’s guidelines on consolidation of banking and financial arrangements to support and sustain businesses as well as Tunisian and international investors who have chosen Tunisia to develop their activities. Zitouna Bank also aims to be a Tunisian high social responsibility bank keen  to contribute actively to the country’s economic growth by promoting the recruitment of Tunisian skills and attracting more Investment Funds and specialized investment through its various business lines,

It plans to put at the disposal of its customers (individuals, professionals, companies and institutional bodies) new financial services and especially know-how to meet their expectations. The bank’s products and services will be based, according to our information, on Islamic finance compliant techniques and should be able to meet all customer needs both in terms of financing (Murabaha, Ijara …) savings and participation (Moudharaba, Mousharka …) as well as in terms of basic products and services: account management, means of payment, besides the quality of service pledged by the new bank, with a fully integrated modern information system  As directed by  its founder, Zitouna Bank claims to be a benchmark for technological innovation and opted, from the very start, for the diversification of distribution channels, with a complete transaction E-banking service  and Available Service ATMs. This service will support the network of bank branches that the bank is preparing feverishly and that should enable it to cover, since the early years, the major cities of the country.
Preparations are going very well and 2010 will be the year of  Zitouna.

The new bank, whose headquarters are located in the “Lac 2” area, should come into office at the end of the first quarter 2010. Zitouna Bank is drawing on international expertise, such as McKinsey which is responsible for drawing the strategic axis in positioning and targeting, governance and organization, as well as in establishing the business plan for the coming years. The move which involves the best global providers of Global Banking (Temenos, Iflex, Delta, Path …) also allowed choosing Temenos”T 24″ solution. The challenge of Zitouna Bank is now to implement the project of its information system over a period of 8 months. A multidisciplinary team of experts (IT, accounting and business ownership), having a rich banking experience in banks in Tunisia and abroad, has been formed and is working out the project.

The bank also called upon the services of Altime Charles Riley firm to  accompany its  computer project, Zitouna Bank has already made progress on various items relating to visual identity and graphic (with the assistance of the international law firm Ogilvy) design and development of its banking agencies, development of products and services, legal setting  and staff recruitment . “The project has strong capabilities allowing it to move quickly and safely. The challenge is certainly important, but motivation and dedication of our staff leave us confident and reassured about the proper conduct of this creation phase … “says Mohamed Sakher Elmateri.

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