IslamicFinance.de

The Bahrain-based Islamic investment banking major, Gulf Finance House (GFH), and the Tunisian government have announced the launch of a $3 billion North Africa’s first offshore financial center as part of Tunis Financial Harbour. The mixed use waterfront development will provide the physical infrastructure for the planned offshore financial center.
The formal announcement was made by the GFH senior management and the governor of the Tunisian Central Bank on the sidelines of a reception for financial services institutions and policy specialists held in Washington, DC held during the International Monetary Fund’s (IMF) annual meeting. Both parties’ briefed attendees on the project as well as the development of Tunisia’s financial services regulatory environment.
Tunis Financial Harbour will further develop Tunisia’s vibrant economy, by offering world class commercial infrastructure and an array of modern waterfront living for financial services institutions seeking access to the opportunities Tunisia offers as a strategic gateway between Europe and Africa. The development is projected to have a permanent population of 110,000 residents across its 500 hectares and will create 16,000 jobs for them Tunisian economy.