Tadhamon Bank is a Yemeni
bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
that offers retail and corporate banking and integrated investing services that abide by
Islamic Banking Standards.
History
Tadhamon Bank is considered one of the largest, classic banks in
Yemen
Yemen (; ar, ٱلْيَمَن, al-Yaman), officially the Republic of Yemen,, ) is a country in Western Asia. It is situated on the southern end of the Arabian Peninsula, and borders Saudi Arabia to the Saudi Arabia–Yemen border, north and ...
. It was founded in 1996 based on the Islamic Banks Law in the republic of Yemen.
Tadhamon international Islamic Bank (TIIB) was established initially under the name of Yemen Islamic Bank for Investment and Development and was later renamed to TIIB (Tadhamon international Islamic Bank) to reflect its business expansion ambitions.
In 2008, the bank was rated the most efficient Islamic bank in a low-income country, and by 2009 it had become the second largest Islamic financial institution by assets in the
MENA
MENA, an acronym in the English language, refers to a grouping of countries situated in and around the Middle East and North Africa. It is also known as WANA, SWANA, or NAWA, which alternatively refers to the Middle East as Western Asia (or a ...
region.
, the bank manages assets that are estimated at 497 billion
YR which is approximately $2.314 billion US dollars. Its fixed capital is 20 billion Rials which is $93 million US dollars.
Location
Tadhamon International Islamic Bank is located in
Sana'a
Sanaa ( ar, صَنْعَاء, ' , Yemeni Arabic: ; Old South Arabian: 𐩮𐩬𐩲𐩥 ''Ṣnʿw''), also spelled Sana'a or Sana, is the capital and largest city in Yemen and the centre of Sanaa Governorate. The city is not part of the Governo ...
, Republic of Yemen. It consists of 24 branches spread over most of Yemeni governorates and has more than 120
ATM machines
An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, fund ...
.
See also
*
List of banks in Yemen
This is a list of banks in Yemen.
Central bank
* Central Bank of Yemen
Local banks
* National Bank of Yemen
* Tadhamon International Islamic Bank
* Yemen Commercial Bank
See also
* List of banks in the Arab world
{{Asia topic, List of ...
References
{{Reflist
Banks of Yemen