Tunisia launches largest Sharia-compliant investment fund

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 US$32 million), to be financed by the Islamic Corporation for the Development of the Private Sector and the Deposits and Securities Fund of Tunisia.

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.

The fund will provide financial resources to institutions with high growth potential, through enhancing their financial sustainability, as well as their human and operational resources.