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(TAP) - Secretary of State in charge of Trade Faycal Hafiane said Tunisia's future orientations in Islamic financing are based on widening and diversifying services in this field to create new products and adapting the legislative and regulatory frameworks to technical specificities in all the Islamic financial industry fields.
Speaking at the 32nd COMCEC Ministerial Session held from November 21 to 24 in Istanbul, Hafiane pointed out that these orientations are based on human capacity building and publication of standards related to Islamic financial transactions, such as the criteria of accounting.
He pointed out that in Tunisia, the share of Islamic banks of the total of bank financing reached 4% by the end of 2015.
Tunisia's financial market has three investment funds in the development capital, 6 investment funds and 3 insurance companies "Takaful" (direct insurance) achieving a total turnover of transactions that represents 3% of the insurance market by the end of 2015.
COMCEC is the Organisation of Islamic Co-operation (OIC) Standing Committee on Economic and Commercial Co-operation.
© Tunis-Afrique Presse 2016
