Trustbank Amanah, first Islamic bank in Suirnam and region a fact.
Islamic bank has made its entry in Suriname with the approval of the Central Bank of Suriname (CBvS) for Islamic products and services in the banking sector. The official opening of Trustbank Amanah, the first Islamic Bank in Suriname and the region, took place on Thursday 7th of December 2017 in the presence of the Islamic Corporation for the Development of the Private Sector (ICD). For this memorable fact, the Director Advisory Nida Raza and the Program Manager Islamic Financial Institutions Mohammed Mannai of the ICD came to Suriname.
After two years of preparation, Trustbank Amanah is now ready to serve Surinamese society in Islamic Financing. With this, the organization concludes a period of 28 years of service to the community, as a secondary bank institution.
Trustbank Amanah builds on the same foundation laid by the financial institution for the development of small business. Trustbank Amanah will continue to develop, support and encourage Small and Medium Enterprises (SMEs) in accordance with Islamic Banking principles.
The vision of Trustbank Amanah is sustainable financial growth through ethical banking. This is aimed at ensuring sustainable economic growth and, in time, also serving the regional markets.
SPIN-OFF EFFECT FOR THE ECONOMY OF SURINAME
By offering this new way of banking, Trustbank Amanah hopes to open doors for sustainable growth and distribution of prosperity, with which the economic stability of Suriname can be promoted.
"Trustbank Amanah is committed to developing the private sector and strengthening public-private partnerships", said Chief Executive Officer of Trustbank Amanah, Maureen Badjoeri.
The spin-off effect of this will be that the production sector will get the long desired impulse to indeed grow into a market-supplying and exporting sector.
Successful and growing companies bring employment, purchasing power development and ultimately economic growth for the entire country. "A very ambitious task, but not impossible", CEO Maureen Badjoeri said
Trustbank Amanah therefore has the ICD as a partner in this, who has the knowledge and experience in this field and has already earned its spurs in other parts of the world. Islamic financing is a growing concept in both development and developed countries. Suriname is after today in the row of countries like Malaysia, Indonesia and Saudi Arabia that their growth and development also thanks to the concept of Islamic Finance.
TRUSTBANK AMANAH, FINANCIAL HUB IN THE REGION
"Islamic Finance has expanded steadily in traditional markets in Asia, the Middle East and North Africa (MENA). South America, however, represents a new market. Suriname will become the financial hub for Islamic Finance for the region. Trustbank Amanah will play a prominent role in this", says ICD Director Advisory Nida Raza.
Furthermore, the director advisory states that she believes in the great potential of Trustbank Amanah to contribute to the economic development and well-being of Suriname through efficient and Shari'ah compliant banking.
Minister of Finance Gillmore Hoefdraad and the president of the Central Bank of Suriname Glenn Gersie characterizes this as a historic moment in the financial development of Suriname.
After the official launch of Trustbank Amanah, Memorandum of Understanding were signed with the Ministry of Trade, Industry and Tourism and the Association for Surinamese Business (VSB), which includes the intention to work together to stimulate, support and develop the SME's.
Trustbank Amanah will be at the service of anyone who needs financial services and offers savings, investment and credit opportunities in the initial phase. To expand the services, new banking products and services will be offered in the second phase.
Source: Trustbank Amanah
Date: 22-12-2017
