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Islamic investment bank Gulf Finance House (GFH) has unveiled the master plan for North Africa's first offshore financial centre in the Tunisian capital.
The plan was revealed as President Zine El Abidine Ben Ali laid the foundation stone for the Tunis Financial Harbour, situated in Tunis Bay.
It will play host to some of the world's leading names in finance, advisory and support services at a strategic crossroads between the European, North African and Middle Eastern markets.
The tendering process for the project has started and work on infrastructure is slated to begin by year-end.
It is the second in a series of offshore financial centres originated by GFH.
GFH chairman Esam Janahi said: "Tunisia is one of the region's most competitive and exciting economies enjoying sustained stability and a strong record of GDP growth, a prosperous industrial sector, a diversified services sector, modern infrastructure and skilled human capital. Given its strategic geographic location, TFH offers tremendous opportunity for the international financial community."
The harbour will comprise four distinct business clusters including investment banking and advisory centre, a corporate centre, a takaful/insurance hub and the region's first international financial exchange.
An international business school is also planned to equip graduates with the skills demanded by leading international finance and support services community
