Mauritius' first fully-fledged Islamic bank launched operations on Thursday, as the Indian Ocean island seeks to become a regional Islamic banking hub.
Mauritius wants to tap into the roughly $1 trillion Islamic finance industry, and the central bank also plans to offer sharia-compliant short-term liquidity tools.
Hesham Shokry, chairman of Century Bank said its first two to three years would focus on wholesale banking and treasury and wealth management. Wholesale banking, he said, would comprise debt and equity capital markets and fund management.
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