ADFIMI has a New Member
Sudanese Islamic Bank (SIB) has joined ADFIMI as its 52nd member. With assets totalling USD 177 million and employing 220 staff (as of end of 2005), SIB provides loans to different sectors especially to industry and agriculture. SIB with its 41 branches provided 37% of its total credit portfolio of 85,9 million USD to local trading activities while of 21% was consumed by the industry and of 5% by the agriculture sector.
SIB distributes its investments according to the following modes of finance: murabaha, salam, musharaka, mudaraba, securities, capital participation. SIB cooperates with IDB and the total amount of IDB financing has exceeded USD 1 million.