IslamicFinance.de

The Central Bank of Suriname has granted the Trust Bank a licence to commence Islamic banking. Trust Bank plans to be in operation by the first quarter of 2017. A year ago, Trust Bank signed an advisory services agreement with the Islamic Corporation for the Development of the Private Sector (ICD), to support its conversion into Islamic compliant operations. CEO of Trust Bank, Maureen Badjoeri said that Trust Bank wants to facilitate SMEs in more ways than just financially. With this approach, SMEs will be able to start-up or expand production of goods and services with a spin-off in job creation, trade, export and adding to GDP growth. With the Trust Bank closer to reality, Suriname may emerge as a hub for Islamic banking and finance in the region.