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By Sami Zaptia.
London, 25 February 2020:
Yaqeen bank, a Sharia/Islamic-compliant bank, opened a new branch in Zliten, 160 km east of Tripoli, last Thursday.
The bank said the opening was part of the implementation of its five-year strategic plan for 2020-2024 aimed at expanding the bank’s activity within new geographical areas.
The bank also confirmed that it will be opening its main branch in Tripoli on Thursday, 27 February, which will be dedicated to corporate clients, and its Sebha branch will be opened in March this year which will provide services to both corporate and private customers.
It will be recalled that Libya Herald covered Yaqeen bank’s announced launch back in 2014. However, the bank was eventually established in 2019 with a LD 250 million capital of which LD 100 million is paid up. Seventy-one percent of the privately-owned bank’s shares are owned by individuals while the other 29 percent are owned by Libyan private sector companies.
