The first Islamic bank in the world accredited to International Finance Corporation ESTABLISHMENT

الأربعاء 06 مارس - آذار 2013 الساعة 09 صباحاً / Saba Bank
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Yemen's Saba Islamic Bank opens its branch 15 (Branch Unit)
Bank Spooaln Bank Saba Islamic joining Global Trade Finance Program of the International Finance Corporation (the private sector section of the World Bank Group).

Said Sheikh Hamid Abdullah al-Ahmar Chairman Saba Islamic Bank join his bank to Global Trade Finance Program of the International Finance Corporation (IFC) has its implications for the Bank and the Yemeni banking sector.

The red cross in a news conference on Sunday in the capital Sanaa pleased Saba Islamic Bank's accession to ensure the facilities agreement with the International Finance Corporation (IFC), which occurred after a period of follow-up and negotiate where the Bank has undergone several criteria.
The Red to the agreement signed between the Bank and the International Finance Corporation month ago will be under the provision of security to open $ 10 million for the Saba Islamic Bank has about 400 bank in the world, pointing out that this amount is eligible to increase, which will enhance the prestige of the Bank regional international respect Ptaamlath foreign.

The President of the "spa" that the agreement will provide loans and long-term his bank for financing real estate, which will serve a large number of beneficiaries and enable the Bank to increase periods mortgage to 10 years, which Maitwavq with the needs of the market and the expansion of government in the provision of housing for large segments of the people.

Has announced the International Finance Corporation, for its part that the Saba Islamic Bank became the first bank to Yemen and Islamic Joins Global Trade Finance Program its said Jyrki كوسيكلو, director of Global Financial Markets Department institution join Bank of Sheba, an essential step and head in the first effort of the Foundation for the involvement of the financial sector in Yemen.


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