خلال الفترة من 13 اغسطس وحتى 1 سبتمبر نفذ بنك التضامن الاسلامي الدولي برامجاً توعويةً وتدريبيةً في مجال الالتزام ومكافحة غسل الاموال وتمويل الارهاب لما يزيد عن 200 متدرب ، شمل موظفي القاعات المصرفية ، وموظفي الادارات المركزية ، وفقا لخطة ادارة الامتثال في التدريب والتوعوية للعام 2016م ، وقد شملت موضوعات التدريب - هذه المرة - بيان مخاطر عدم الامتثال لقوانين وإجراءات مكافحة غسل الاموال وتمويل الارهاب المحلية والعالمية ، وآلية تطبيق اجراءات العناية الواجبة ، حيث تنوعت الوسائل التدريبية وتنوع المدربون من حيث التركيز على الموضوعات الراهنة التي استجدت في الشأن المحلي والدولي في قطاع المصارف والمؤسسات المالية ، حيث تطرق الاستاذ /وديع السادة – رئيس وحدة جمع المعلومات المالية- إلى مدخـل تاريخي للجهود الدولية لمكافحة جرائم غسل الاموال وتمويل الارهاب ، وبيان المتطلبات القانونية للتنفيذ ، وايضاع نوع العقوبات في حال المخالفة.
بينما ركز المدرب / معاذ السيد - مدير ادارة الامتثال في بنك التضامن – على ايضاع أنواع العقوبات الدولية ، وكذا الاجراءات التطبيقية لبرنامج KYC Know your Customer ، ومتطلبات اجراءات العناية الواجبة اللازمة للعملاء Customer Due Diligence (CDD) ، Enhanced Due Diligence (EDD) ، والتعريف بحالات الاشتباه ، ثم آلية الابلاغ عن المخالفات وفقاً لمتطلبات سياسية الابلاغ عن مخالفات (نافخ الصافرة). مع ايضاح التعاملات المصرفية الخارجية عبر البنوك المراسلة وابراز المتطلبات اللازمة من قبل البنوك المراسلة للتعامل مع هذه العمليات.
من جانب آخر قدم الاخ / جابر عطية – مساعد مدير ادارة الامتثال – مختصراً لآلية الامتثال لقانون الفاتكا ، وقانون مكافحة غسل الاموال ، والتعاميم الداخلية الصادرة عن الادارة التنفيذية الخاصة بالامتثال ومكافحة غسل الاموال ، وتعريف الموظفين بأخطاء الادخال للبيانات ، والطرق المناسبة للتصحيح .
وتطرق الاخ / أمين الصغير – رئيس قسم الرقابة على العمليات و مخاطر العملاء ، الى ايضاح الكيفية التي يتم من خلالها تصنيف العملاء وفقاً للمخاطر، وآلية العمل على نظام الامتثال الرقابي الآلي AML Monitoring System ، في ارسال الملاحظــات وتلقي الـرد بالمعالجات من الفروع ،
وقد عبر المشاركون في البرنامج عن ارتياحهم لمجموعة المعارف الجديدة التي تلقونها في هذا المجال ، وجاهزيتهم لتطبيق ما تعلموه في الواقع العملي .
يأتي هذا النشاط ضمن خطة البنك الهادفة الى استمرار التدريب والتوعية بكل ما يستجد في مجال مكافحة غسل الاموال وتمويل الارهاب ، ويعسى الى شمولية التدريبلطاقم العمل في البنك وفروعه وشركاته التابعة.
كما يحرص بنك التضامن على نشر هذه الثقافة بين العاملين والمتعاملين من باب تحقيق المسئولية الاجتماعية ، وهو على استعداد لنقل خبراته في هذا المجال لكافة موظفي القطاع المصرفي اليمني اسهاماً في نشر الوعي المصرفي من ناحية ، وتقليل مخاطر عدم الامتثال من ناحية ثانية ، ولما فيه المصلحة العامة .
وبالله التوفيق ،،،
Tadhamon Islamic International Bank (TIIB) had sponsored ‘Behance Yemen’ event, that is dedicated to show creative works and held in Yemen for the first time, inaugurated in Sana’a last Thu. May 16, 2013.
The event was organized by ‘One Graphics Media & Advertising’ and hosted by the ‘Lebanese University’.
Over 60 creative graphic designers and plastic artists had participated in the Behance competition.
‘Behance” is considered to be one of the biggest international events to show creative people works and getting work evaluation from experts participating in the event.
The Bank sponsoring this event comes under the Bank activities in social responsibility field, its contributions in supporting and sponsoring the creative people and encouraging youth and talented people.
Tadhamon International Islamic Bank (TIIB) had sponsored "The 3rd Scientific Symposium for Care-Taking of Talented and Superiors" in the Republic of Yemen.
The symposium, which is organized by "Talent Development Center (TDC)" in the University of Science & Technology (UST), was held in April 22nd, 2013, under the slogan: "Talented Youth … Promising Yemen".
The symposium was attended by Mr. Abdulgader Helal, Mayor of Sana'a, Dr. Abdulhakim Ash-Sharjabi, Dean of Sana'a University, Mr. Husain Al-Martani, Deputy Mayor of Sana'a, Mr. Amad Abdulfattah Ismaeel, Assistant Deputy Mayor of Sana'a and a number of concerned people.
Schools' winning students had been honored by " Innovation & Scientific Excellence" prize, in addition to graduation projects and prize arbitration committee. A number of scientific inventions had been honored including; disasters device, electricity generator, the ideal capital, the automatic washer, water ordering device, water alarm.
Symposium sponsorship comes under Tadhamon Bank supporting the educational process, encouraging scientific innovation and social responsibility projects adopted be the Bank in various fields.
Contributing in supporting the educational process, Tadhamon International Islamic Bank (TIIB) sponsored Hadhramout University of Science & Technology faculty members & their assistants union's 3rd general conference held in April 17, 2013.
The conference was held in author Ba-Kathir's Hall in Hadhramout University of Science & Technology presidency under the slogan: "Together to Improve Education Quality & Academic Performance".
The conference discussed union's management reports, suggestions and recommendations. A new union management has been elected.
It is worth mentioning that the Bank had sponsored the 2nd union conference.
TIIB has announced its 2016 revenue reaching 29.287 million Y.R. compared to last year's which is 27.028 showing an increase of 2.259 million Y.R and 8% growth rate
Moreover, 2016 expenses and other allocations and costs totaled 10.095 million Y.R while it was 17.561 million Y.R. in the previous year, making a decrease by an amount 7.466 million Y.R. an a percentage of 43%. due to the decrease in the finance allocations and some losses in foreign investments achieved by TIIB during 2015, as stated by TIIB's Board of Directors Chairman Mr. Abdulgabbar Hayil Saeed in his keynote speech at the Ordinary and Extraordinary General Assembly Convention held this morning in the capital city of Sana’a.
He further explained that the profits of investment depositors and savers totaled 12.048 million Y.R. by the end of 2016, compared to 12.696 million Y.R. for 2015, showing a decrease by an amount of 648 million Y.R. (5%) making the net profit after taxation 6.357 million Y.R., 7 million of which belongs to the non-controlling shareholders. This compensated the losses over the previous years (3.246 million Y.R.) as well as the losses in the equity value (255 million). The profits do not include the legal reserve which is the amount of 953 million Y.R.
The General Assembly approved the Board of Director’s suggestion to distribute the profits to the shareholders with a rate of 10% with a total amount of 2.000 million Y.R.
The Chairman of the Board of Directors noted that despite the exacerbating economic conditions due to the events that are still ongoing since 2015, TIIB has been able to cope with the changing environment proactively, effectively and resiliently, thanks to Allah. This resilience is the pillar of the Bank’s business growth during 2016, he emphasized.
The Chairman explained that the contingency plan is still applied and that business is being run according to a preplanned operating budget to manage potential emergency events. However, the Bank has launched a number of development projects that take into consideration the crisis in the country and the business continuity objectives in the worst potential scenarios.
He elaborated that TIIB introduced a number of products, services and development projects which can be provided even in times of crisis so that business continuity is ensured. Such projects include the study, evaluation, and handling of all operational, market, and financial risks by creating a risk department as a central component of the Bank.
Other financial results revealed a 1% growth in TIIB's Unified Budget over 2016 hitting the mark of 501.701 billion Y.R. compared to 499.032 billion Y.R. in 2015, an increase by 2.669 million Y.R. The non-budgetary accounts totaled 18.602 million Y.R. compared to 24.278 million Y.R. during the previous year, a decrease by 23%.
On the other hand, the 2016 balances of depositors amounted to 415.841 million Y.R. compared to 431.623 million Y.R. during 2015, which reflects a 4% decrease.
Furthermore, the net investments and finances were estimated at 335.566 million Y.R. by the end of 2016 while they were 340.756 million Y.R. in 2015, showing a decrease by an amount of 5.190 million Y.R. (2%).
The General Assembly also reviewed and approved the Board of Director’s Report on the TIIB activities for the fiscal year ending on Dec. 31, 2016. They also discussed and approved the Bank’s financial statements and audit report. Moreover, the General Assembly heard the Sharia Audit Board’s report, approved the disclosures of the Board of Director’s members, and authorized the Board to nominate the 2017 auditor.
Jeddah - June 7, 2017 - The Islamic Corporation for the Development of the Private Sector (“ICD”), the private sector arm of IDB Group, Tadhamon International Islamic Bank (TIIB) have entered into partnership to support Business Resilience of MSMEs under the pilot phase of BRAVE Project currently implemented jointly with the Small and Micro Enterprises Promotion Services (SMEPS) – a subsidiary of the Social Fund for Development in Yemen. The CEO of ICD, Mr. Khaled Al-Aboodi, and Mr. Mahmoud Al-Refai , General Manager TIIB signed on behalf of their institutions in ICD Head Office.
The objective of the Business Resilience Assistance for Value-adding Enterprises (BRAVE) project aims to enhance the resilience of the private sector, as the engine of sustainable growth, against the impact of ongoing conflict. The pilot phase will support around 300 firms in five key sectors (agribusiness, food processing, fisheries, garmenting and health care) through an integrated package of tailored training program and financial support in partership with four local banks: Tadhamon International Islamic Bank (TIIB), SIB, KIMB, and National Bank of Yemen (NBY).
Mr. Khalid Al-Aboodi stated that “During the IDB Group annual meeting, ICD and SMEPS signed with two implementation partners from the Yemeni Bank. Today we are pleased to expand such partnership to include TIIB as the largest private Bank in Yemen. WE are confident that TIIB involvement is a remarkable addition to the collective efforts aimed at overcoming the challenges faced by private firms in Yemen.
”Mr. Mahmoud Al-Refai said, “We are honored to announce our participation in BRAVE project in cooperation with the Islamic Bank for Development and the ICD and Social Fund for Development. TIIB is prepared to offer all necessary facilities and services to make this project a success. This cooperation, comes to enhance the resilience of small and micro financed projects that have struggled over the current crisis. BRAVE project contributes into key sectors which are: health, agriculture, fisheries, food, and textiles. We pray to Almighty Allah for the success of this project.”
About the Islamic Corporation for the Development of the Private Sector:
ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Shari’ah. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody’s. For more information visit www.icd-ps.org
About Tadhamon International Islamic Bank:
Tadhamon International Islamic Bank - TIIB is considered one of the largest and most trusted banks in Yemen. It was founded in 1996 based on the Islamic Banks Law in the Republic of Yemen.
TIIB has experience that spans over 20 years and has more than 700 employees. The bank has continuously worked on developing its services through its specialized and highly qualified staff and at the same time, maintained the essence of the Islamic values on which it was founded.
TIIB is located in Sana'a the capital of the Republic of Yemen, having total of 22 branches spread over most Yemeni governorates and the largest customer base www.tiib.com .
SWIFT announces today that global transaction banks are actively using SWIFT’s new global payments innovation (gpi) service, which opened for live payments in January 2017. ABN AMRO, Bank of China, BBVA, Citi, Danske Bank, DBS Bank, Industrial and Commercial Bank of China, ING Bank, Intesa Sanpaolo, Nordea Bank, Standard Chartered Bank and UniCredit are live with SWIFT gpi, exchanging gpi payments across 60 country corridors. Numerous additional banks will follow in the coming months.
“We are delighted that SWIFT gpi is now live and is already enhancing the cross-border payments experience for corporate treasurers,” says Christian Sarafidis, Chief Marketing Officer at SWIFT. “A year ago the global financial community pledged to dramatically improve the cross-border payments experience, and today marks a major milestone in delivering on that promise. It further demonstrates the ability of SWIFT and the financial industry to collaborate, innovate and rapidly introduce new solutions.”
A number of financial institutions in the Arab region including Dubai-based Mashreq Bank and Tadhamon International Islamic Bank have already announced the proposed adoption of SWIFT’s gpi.
Khaled Moharem, Head of Middle East & North Africa at SWIFT, said: “SWIFT is helping to make real change for the financial industry by supporting banks in the Middle East to deliver new standards in cross-border payments to their customers. The future of payments is here and SWIFT is at the centre of it.”
SWIFT gpi enables banks to offer a faster, more transparent and traceable cross-border payments service. The highly innovative new gpi Tracker feature allows banks to provide corporate treasurers with a real-time, end-to-end view on the status of their payments, including confirmations when payments have been credited to beneficiaries’ accounts. Treasurers also now have certainty that remittance information, such as invoice references, are transferred unaltered to the beneficiary.SWIFT will also introduce the gpi Observer, a quality assurance tool that monitors participants’ adherence to the gpi business rules.
SWIFT is already designing the next phase of gpi, which will include additional digital services to further transform the cross-border payment experience, such as a rich payment data service.
Wim Raymaekers, Head of SWIFT gpi at SWIFT adds: “Customers require more certainty, transparency and traceability in their cross-border payments; SWIFT gpi is delivering this today.And with nearly 100 leading transaction banks already signed up, SWIFT gpi is set to rapidly expand with more banks, new features and additional payment services.”
In parallel, SWIFT gpi is exploring distributed ledger technology for real-time Nostro account reconciliation. A proof of concept was announced in January 2017.
Tadhamun International Islamic Bank (TIIB) has launched a distinctive service called "My Wallet" as a method of electronic payment made by a mobile phone through "Mahfathati" Application, through which the subscribers conduct their diversified financial transactions, such as remittances, payments, and purchase through mobile phone.
The service is reliable, fast, and safe. It, also, saves the subscribers the trouble of running the risk of carrying cash, and none but the scribers may use the service.
Having complied with all CBY formalities and approvals, the service came to cope with the advancement of the modern means of technology and the increasing need for new safe methods of payment.
The Service covers a variety of identical and matching range that satisfies the client's needs and ambitions, and serves the public with or without accounts at TIIB. The Application workable on all Smart Phones.
TIIB declared revenues achievement of YR 27 Billion in 2015, with an increase of YR 300 Million compared to the year 2014, and a growth of 1%, as well as a net loss in 2015 amounted to about YR 3.2 Billion less expenses, outlays and dividends.
At the Ordinary and Extraordinary General Assembly Meeting, Mr. Saeed said "The unusual events and conditions, which affected all aspects of business and economy in Yemen, have cast their adverse effects on the Bank's performance and accomplishments in 2015", Said Mr. Saeed" "However", he added, "The Bank, thanks to God, succeeded in alleviating the impact of the variable acrimonious surroundings, challenges and difficulties it experienced. These included the exposure of some of its branches to direct bombing, and even could create capacity, efficiency and practicality to prevail over such unfavorable episodes".
He indicated that such acquired practicality was mainstay of the return to the Bank's growth course and start from mid 2015, which enabled the Bank to distribute profits of the customer's deposits with YR 12.7 Billion in 2015, compared to YR 15.2 Billion at the end of 2014.
To ensure the Bank's business continuity under these circumstances, Mr. Saeed pointed to the development of an instrument by preparation of general policy and continuity plans including a contingency plan with an operating budget estimated beforehand.
He pointed out that TIIB witnessed the launching of a collection of products, services and development projects to cope successfully with the country prevailing situation for provision in the most aggravated circumstances, while ensuring the continuity. The foremost of such projects are the study, evaluation and development of solutions to tackle all probable operational, logistical and financial risks through the creation of Risk Management as one of the Bank's central competent authority.
Mr. Saeed revealed that by the end 2016, the Bank will unveil the e. Wallet Project with support from the Central Bank, which will, in the-short and long-term, serve the national economy with digital financial transactions through an electronic wallet to control funds.
TIIB Chairman stated that the Bank sought to find alternative solutions to stop the transfer of liquidity abroad by catching the attention of foreign organizations and companies as well as to secure the level of cooperation with many foreign financial firms and connection with several foreign Banks to send and receive swift remittances. This really contributed to the creation of sources to replenish the Bank's external accounts and as such made it partly able to continue rendering its services to customers and to the foreign trade sector.
At the Banks technical level, Saeed pointed out that, the internal systems have been developed to streamline and monitor the business management by the integration of subsystems with the main banking systems. In addition, ATMs have been activated with the connectivity feature through Satellite and provision of the service from its inner part within the events areas, in addition to the introduction of the e.archiving project.
As far as the social responsibility is concerned, Mr. Saeed said "TIIB enhanced its contribution by continuing the positive interaction with the social activities such as extending funds through Tadhamun small and micro-finance program and spread to include areas not yet covered where funding for the program amounted to 1028 funds with Total amount exceeding YR 200 million. In addition, cooperation started with local, Arab and international community organizations. Of these, BRAVE project is the chief. It is implemented in partnership with the Islamic Development Bank and the Social Fund within 2016 and 2017 years for the support of a large number of small and medium-Scale enterprises for some sectors with their systematic recovery program.
The Bank's other financial outcomes revealed the decline of its consolidated budget by 4% during the year 2015 to YR 499 Billion compared to YR 517.5 Billion in 2014 while accounts out of the regular budget attained YR 24 Billion compared to YR 47 Billion for the previous year.
However, customer deposit balances attained YR 431.6 Billion compared to YR 452.5 Billion in 2014.
On Sunday, May 29, 2016, TIIB opened the new Hayel Branch at the Capital Sana'a. Key clients and assistant general manager attended the occasion.
Mr. Ghassan Shamsan, Assistant General Manager who sponsored the ceremony, stated that the Bank has an ambitious plan to reach a wider segment of customers in the various governorates of the Republic.
On his part, Mr. Rashid Al-Sakkaf, Assistant General Manager, added that TIIB seeks to provide integrated financial services at the highest international levels of the electronic financial services.
As usual, TIIB always takes the lead to cope with the latest development of banking services, as it provided the Branch with all up to date facilities, to ensure a distinct level of service and save the customer the trouble of losing time.
During the opening, key customers of the Bank expressed thanks and appreciation to senior management for the interest in the continuous advancement of the staff performance methods to render service beyond the customer's expectations.
It is worth mentioning that TIIB is individualized in the spread of its Branches all over the Republic to meet the customer's needs and banking services.
To continue rendering the banking services for the Yemeni expatriates in Saudi Arabia, TIIB launched the new remittance service, known as Enjaz, to help Yemeni expatriates send remittances to Yemen easily through Enjaz service points of Albelad Bank subsidiaries throughout the Kingdom to TIIB in Yemen or one of its approved agents quite practically.
TIIB General Manager, Mr. Mahmood Al-Rifaey, said, "Yemeni expatriates in the Kingdom of Saudi Arabia will benefit from this service currently effectively by virtue of the available advantages". He pointed out that TIIB offers such service free without deduction of charges or commissions out of the Bank's social responsibility in consideration of the country-experienced intolerable conditions.
The General Manager indicated that this service helps Yemeni expatriates and their relatives receive remittances in cash without having to open an account and at high rate of speed in both the transfer and collection.
He stressed that no deduction will be made for any charges or commissions against remittances. In addition, the beneficiary may receive remittance in cash without the need to open a bank account with the possible direct transfer to the expatriate account with either TIIB or any other local Bank.
Al-Refaey urged the Yemeni expatriates in the Kingdom to benefit from such TIBB-rendered service and the associated advantages.
It is worth mentioning that TIIB also renders remittance services, such as Quick Pay service, through the National Bank's Branches, and the send service through the Saudi Post Branches.
Today Monday, 28/03/2016, TIIB organized First Forum for the Introduction of International Services and anti-money laundering actions, which TIIB presents to its customers within the Bank's plans to enhance their skills and make them gain knowledge about the international requirements for controls and standards to combat money laundering.
The Forum is held by the Bank Head Office and Branches key customers at the Capital Sana'a under the Title "Banks and Financial Firms have to take measures to establish compliance with the international regulations, standards and requirements to combat money laundering.
The event documents indicates the chief interest of TIIB, as the foremost bank in Yemen, in confirming its commitment to international standards and controls determined to prevent the use of the global financial system in suspicious trading operations.
Many of TIIB clients, Central Bank of Yemen representatives and Yemeni Bankers Association attended the Forum.
Mr. Ghassan Shamsan, Assistant General Manager, indicated the bank's enthusiasm to provide advice to its customers within a package specialized in banking operations, accounts and remittances to achieve the highest standards of performance and quality in the banking business according to Bank applicable rules and regulations.
On his part, the Central Bank representative stressed that tampering the documents or data may expose the client to security prosecution to add his/ her name to the blacklists. He also noted that sending or receiving remittances from people, with no relatives or business relationship with a customer, might jeopardize them.
Mr. Muaz Al-Sayed, TIIB Compliance Unit Manager, explained the US Foreign Accounts Tax Compliance Act (FATCA) and what TIIB and its Branches have to do in this connection for reporting the tax evasion cases attributed to US subjects, how to tackle the matter and respective forms received.
The purpose of TIIB-presented advice is to enhance the clients' financial transparency, since the disclosure of real information on the banking transaction enhances the continuity of the bank dealing with customers and eliminates the suspected cases which may evolve with financial firms negotiating the transaction you require.
TIIB states combating money laundering got high priority in terms of the concern in the risk that threaten the global economy in general and the Yemeni in particular.
Under the slogan (remittance as second to none in simplicity), Quick Pay of money transfer service is most favorable in the Kingdom, as Yemeni expatriates may remit money easily from home or the workplace. Even when you are on vacation, you may in no time through the National Bank Branches, use National Commercial Bank ATMs and transfer money by mobile telephone to Yemen.
This service will make money transfer possible from the Kingdom of Saudi Arabia more than 200 points throughout the Kingdom with the most easiest and fastest methods all at once.
Launching this service copes with TIIB attitude to establish a close and excellent relations with all its Yemeni expatriate clients in Saudi Arabia, as part of a plan to provide original products and services, as well as to strengthen its role as an active partner in social and economic life.
Yahya Al-Hadabi, Director of Marketing Department, added that the purpose of Quick Pay service is mainly to serve all Yemeni expatriates in the Kingdom. Such service is an addition to support TIIB-rendered remittance service by the widespread use of the Bank's Branches in Yemen, so that clients and expatriates can send remittances to their accounts with the Bank.
Moreover, Yemeni expatriates can, through Quick Pay remittances, send money very quickly in no time, without the need for a bank account, let alone the absence of any commissions on money collections.
Tadhamon International Islamic Bank announced profits and revenue of 26 billion and 515 million at the end of 2014, and the profits for investment and savings accounts jumped to 15 billion and 224 million YER, with an increase of 659 million YER (a growth of 4.5%).
Mr. Abduljabbar Hayel Saeed, the Chairman of Tadhamon’s Board of Directors, said, during the General Assembly’s regular meeting yesterday in Sana’a that the balance of the deposits and accounts in the bank went up to 452 billion and 412 million YER which was an increase of 901 million YER from the end of 2013.
He also stated that the unified budget of the Bank exceeded, at the end of 2014, 517 billion and 705 million YER, and that the accounts outside the budget (regular) amounted to 47 billion 173 million YER.
He also said that the amount allocated for investment memos and banking commitments reached, at the end of 2014, 11 billion and 598 million YER. Mr. Abduljabbar also stated that, despite the special circumstances that the country went through in 2014, and the losses that were incurred by the national economy in general and the financial banking sector specifically, Tadhamon International Islamic Bank and its leadership were able to implement the strategic plan in the midst of the situation that the country was going through. They were also able to focus on the priorities of the Bank, which were to keep the activities of the Bank ongoing within secure limits, lower the excess cash balances and the balances for investment and financing, in addition to securing the assets of the Bank and its property against the dangers of terrorism and armed burglary.
He also added that other events, like the decreasing petroleum prices worldwide, which were lower than 50 USD a barrel, the end of petroleum production due to the attacks on the oil pipelines, foreign organizations stopping their assistance to the country, the lower revenue from taxes and other exports, all led directly to harming the national economy, where the GNP had a low growth rate of 1.9%.
The General Assembly listened to the report of the Board of Directors about the activities of the Bank during the fiscal year ending on 31 December 2014, and it approved this report. It also approved the reports of the Shariah Supervisory Board and the accounting report.
It released the Chairman and Members of the Board of Directors from their responsibility for their actions during the fiscal year ending on 31/12/2014, and they delegated the task of finding an auditor for 2015 and setting his compensation.
The General Assembly also heard comments and clarifications from the representatives of the Central Bank and the Ministry of Industry and Trade, and it increased its adherence to them.
Sponsored by the Chairman of the Board, Mr. Abduljabbar Hayel Saeed, the second annual meeting for department and branch managers in upper management was held in the main office of the Tadhamon International Islamic Bank during the period from the 4th to the 5th of December 2014.
The meeting was attended by Mr. Mahmoud Alrifa’ee, the General Manager of the Bank, Mr. Sami Muhammad Abdoh Saeed, the Deputy General Manager, Dr. Muhammad Sinan Aljalal, a member of the Legal Supervisory Board, and the branch and department managers of the bank. During the meeting, the main accomplishments that were achieved during 2014 were discussed, as well as the main future development steps that the bank plans to achieve.
During a word to the participants, Mr. Mahmoud Alrifa’ee, the General Manager of the Bank, discussed the main obstacles that the bank faced during the past year in light of the competition in the banking sector. At the forefront of these obstacles is the focus on developing banking products and services for customers, improving the performance of the employees of the bank, and expanding in the field of electronic banking services. He talked about the importance of excellent performance in light of the competition in the market, as well as providing the services that the customers of the bank want in the best possible manner.
On his part, Mr. Sami Muhammad Abdoh, the Deputy General Manager, reiterated the importance of the Bank and its branches managing customer services, and the role it needs to play to meet the demands of the customers of the bank and its shareholders because they are the most important source of marketing for the bank. He talked, at the same time, about the role of employees in achieving the general strategy of the bank and in developing the services provided to customers in order to reach the bank’s goals and aspirations.
The attendees of the meeting had listened to the suggestions of the previous meeting and what was achieved, and they talked about the number of subjects and issues that were presented by the different departments and branches.
It should be mentioned that these meetings are a part of the efforts of the administration of the Bank to increase the participation of branch and department managers and their contribution to developing the work of the bank while also giving them incentives to participate in providing suggestions that could benefit their work.
In the framework of the concern of the Board and Executive Management with the directives for combating money laundering and terrorism, the Bank hosted Mr. Wadee’ Alsaadah, the head of the Financial Information Collection Unit in the Central Bank during the events of the Second Annual Meeting of the Leadership of the Bank during the period from the 3rd to the 4th of December 2014.
During the meeting, a detailed explanation of the latest developments in the procedures relating to combating money laundering and terrorism and listening to the questions of branch and department managers regarding the problems that they face when implementing the directives and procedures to combat money laundering.
In his response to the questions and of the members of the meeting, he reiterated the active role of the bank in this sector. He stated that, at the same time, the Compliance Unit at Tadhamon Bank is the ideal unit that should be emulated by the rest of the local Banks.
It should be noted that Tadhamon International Islamic Bank committed to all of the requirements for combating money laundering and the directions that are used in international banks and financial institutions.
Tadhamon International Islamic Bank participated in the joint annual meeting of the World Bank Group and the International Monetary Fund (IMF), which was held in Washington D.C. in the period 10-12 October 2014. TIIB being the largest Bank in Yemen, was representing the Yemeni Private Sector. The theme of this year's meeting was about ending poverty.
In a statement released regarding this event, Mr. Ghassan Shamsan, Director of the International Division, who was the representative of TIIB in the meeting, stressed the importance of these meetings, which bring together representatives of the World Bank and IMF with officials from Central Banks, Ministers of Finance and Development, Executive Managers in the private sector, as well as Leaders of Civil Society Organizations. They come together to discuss the most important issues relating to the international economy, economic development and combating poverty The participants in the meetings this year presented a group of international projects and ideas that were created to support the ability of countries all around the world to increase the opportunities for international economic development, increase the sectors of economic development, end poverty, and create plans and strategies in this regard.
It should be mentioned that during these meetings numerous workshops were held that aimed to encourage constructive discussion between the representatives from the private sector, the public sector, and big officials from the Bank and the Fund.
Tadhamon International Islamic Bank participated in SIBOS 2014, which started on the 29th of September and lasted until the 2nd of October in Boston, Massachusetts in the United States of America. The meetings were attended by representatives of the most important international finance organizations and discussed the issues of international concerns relating to economics, financial market developments, and financial stability on the international level.
The participation of the Bank in this important yearly even comes as a part of its great concern with increasing its presence in international markets, and it confirms its continuous efforts in providing unique financial services and products that meet the highest international standards. It aims to do this through new and innovative finance channels that allow its customers to conduct financial transactions locally and abroad.
In addition to that, its participation aims to increase the efforts of the Bank that aim to meet its commitments to contribute to economic development. The Bank aims, through its alliances with international financial institutions, to sow effective seeds in the field of encouraging and developing successful business relationship between local and international companies.
The Conference, which was organized by SWIFT, is considered one of the most important conferences that brings together the most prominent financial strategists with providers of financial services who have great influence in the direction of the international financial sector and are able to dictate the future of finance in the world.
Mr. Abduljabbar Hayel Saeed, the Chairman of Tadhamon International Islamic Bank, said that the consolidated balance sheet of the Bank exceeded 525 billion and 173 million YER by the end of 2013, which was an increase of about 16% (&4 billion and 323 million YER) from the end of 2012.
Mr. Abduljabar Hayel Saeed added during the annual general meeting and the extraordinary general meeting that was held on Thursday, 5/8/2014 in Sana’a, that the Bank’s revenue grew by 34% and amounted to 32 billion and 769 million YER, compared with 24 billion and 448 million YER in 2012.
He noted that customer balances and deposits witnessed another jump, rising to 451 billion and 511 million YER, an increase of 74 billion and 323 million YER from 2012.
He stressed that Tadhamon International Bank was able to achieve good results in the Yemeni markets thanks to its strong solvency, which enabled it retain high levels of capital adequacy at 14.7%, exceeding the rate set by the Central Bank of Yemen and the Basal Committee, which is 8%.
At the meeting the General Assembly was briefed on the report of the Board of Directors about the activities of the bank during the fiscal year ending December 31, 2013, and it approved and discussed the Bank’s financial statements and auditor’s report accounts. The General Assembly approved them and listened to the report of the Legal Supervisory Board, acquitted the Chairman and Members of the Board of Directors, and authorized the Chairman to choose an auditor for the 2014 fiscal year.
It also elected four new members from among the independent shareholders to meet the requirements for governance in accordance with the directives of the Central Bank of Yemen.
On Wednesday 23/7/2014, at its main headquarters in Sana’a, Tadhamon International Islamic Bank held an award for the awards of its internet contest organized by the Bank in conjunction with the 2014 World Cup in Brazil.
In a speech given for the occasion by Mr. Sami Mohammed Abdo Saeed, the Deputy General Manager, gave his sincere congratulations to the winners of the contest, and he said that the sponsorship of this activity comes from the bank’s responsibility to society in all of its different components, and its continuous striving to strengthening its relationships and expanding the circle of communication beyond its banking services. He told those in attendance that “we are proud of our communication with you, and God willing we will have other contests and competitions, and the communication bridges between us will remain extended and open through our coming events and activities.”
For his part, Mr. Yahya Al-Haddabi, the Director of Marketing at the Bank, confirmed that the contest, which started on the 12th of June and continued until the 13th of July 2014, received overwhelming response and a significant reaction. The prize money was divided into 5 phases. During the first and second phases 40 winners were chosen. Each winner got 100,000 YER. During the third phase 10 winners were chosen, and each one got 200,000 YER. During the fourth phase 5 winners were chosen, and each winner got 400,000 YER. And finally, during the final phase, a sole winner, Ali Ahmed Ali Al-Mamari, got 2,000,000 YER.
The winners expressed their happiness with the event and praised the competition and its transparency, credibility, and integrity, and they gave their thanks and appreciation to the management of the Bank for its sponsorships of various community events, particularly those for the youth.
It is worth mentioned that the tournament got wide participation from the different governorates of the country, while the ceremony honored the winners from among the residents of Sana’a City and Sana’a Governorate.
Tadhamon International Islamic Bank participated in sponsoring the Corporate Citizenship Conference that was organized by the Yemeni Business Club on the 7th of June 2014 in Alsaeed Hotel in Taiz.
The conference, which is considered the first of its kind in Yemen, aims to raise awareness in the local business society in Yemen about the importance of corporate citizenship and its private and public benefits. It also aims to encourage the private sector to practice corporate citizenship practices and review the current practices in implementing the principles of corporate citizenship.
The conference included a presentation about the ideals of corporate citizenship, and it provided local and regional ideals in this field. An elite group of businessmen and company and institution representatives spoke during these presentations, as well as a number of experienced and competent academics.
The participation of the Bank in sponsoring the conference is based in its belief of the importance of commercial institutions participation in social events, and the positive effect this has on the people and the environment.
Tadhamon International Islamic Bank held on the morning of Thursday the 19th of June 2014 a yearly award ceremony for model employees for 2013 in its main headquarters in Sana’a.
In a speech given during the ceremony, Mr. Aref Mutahar, the Deputy General Manager for Finance Operations and Investments, talked about the efforts of the employees of the bank, which had the biggest role in achieving the success that has enabled the bank to be at the forefront of banks in Yemen. He added that even though the awards were given to a group of employees, they were still considered awards for all employees of the bank.
Mr. Abdulmalik Malhi, the Head of the Human Resources Department, congratulated the model employees who were given awards, and he added that choosing these employees was done through accurate and transparent criteria. He called for all employees of the bank to compete to win these awards that are handed out every year to all employees who meet the requirements.
Mr. Azmi Mousa, the Head of the Branch Management Department, expressed his thanks for all of the employees of the bank, and congratulated those who were given awards. He added that the awards will have a large effect on those given awards, and that the awards will motivate and push them to work harder in their fields.
In a speech given on behalf of those given awards at the ceremony, Mr. Amniah Fadhl Mahdi expressed his thanks and gratitude to the management of the bank, which aims through these awards to create a spirit of uniqueness and innovation for the employees of the bank. He added that these awards were a special part of renewing the energies of the employees of the bank and ambitiously aiming for more success in the future.
The awards ceremony, which was attended by a number of the employees of the Bank from the main office and the branches, was concluded with certificates of accomplishment and incentives being passed out.
Participate in Tadhamon Bank’s online Contest and enter a draw for ten million riyals
Tadhamon Bank is holding an online competition for soccer fans on the Bank’s official website
Trivia about the numbers of the World Cup with prizes in the millions
First Stage : 2,000,000 Riyals for 20 winners
Second Stage: 2,000,000 Riyals for 20 winners
Third Stage : 2,000,000 Riyals for 10 winners
Fourth Stage : 2,000,000 Riyals for 5 winners
Fifth Stage : 2,000,000 Riyals for 1 winner
To participate click on the following link : http://mytiibworldcup.com
Tadhamon International Islamic Bank participated as a Platinum Sponsor in TEDxTaiz, which was the first TEDx Conference in Taiz and the third in Yemen. This conference focuses on presenting ideas that bring about inspiration, change, innovation, and creativity in order to reflect a better image of Yemen in general and Taiz specifically to the rest of the world. The conference was also held to provide a better chance to Yemeni innovators to present their ideas and opinions in a different way.
The conference, which started on Saturday the 17th of May, was launched under the slogan of ‘Promoting Creativity’. 17 participants spoke during the conference and presented a number of cultural, scientific, and social ideas that aim to develop humanity in general and Yemen specifically.
In a speech given during the conference, Shawqi Ahmad Hayel, the Governor of Taiz, described the conference as being successful because it placed the city of Taiz on the map of TEDx Conferences.
The conference, which was attended by a number of academics, inventors, innovators, and representatives of the different parts of civil society, ended its activities with a screening of a documentary about the city of Taiz, which was well received by those in attendance.
The TEDx Conference, which is a yearly conference that was established in 1984, is held every year in California in the United States of America, and it includes a number of conferences that are held in different cities around the world. The TED Conferences bring real value by presenting ideas worth spreading.
Sponsored by Tadhamon International Islamic Bank, the activities of Behance Sana’a were finished for the second consecutive year. It is considered one of the largest international events for displaying innovative work and getting it evaluated by participants.
The event that was held this year included over 60 works of art that were distributed into 8 categories including graphics design, drawing, 3D, interior design, brand and slogan design, website design, media production, and photography.
In an environment of creativity and innovation, a number of Yemeni artists and innovators presented their artistic works in order to get evaluation and feedback from other Yemeni artists and benefit from their experiences.
Tadhamon International Islamic Bank received the shield of the event for its efforts and sponsorship of these innovative events, and a number of winners from the competitions held during the event were also awarded small prizes.
This event was held for the second time in Sana’a, and it happened at the same time as more than one thousand similar events held around the world during the same week.
And under the sponsorship of Mr. Abdul-Jabbar Hayel Saeed, the Head of the Board of Directors, a meeting was held in Sana’a for the executive leadership of the bank.
In a word that he gave during the meeting, Mr. Mahmoud Atta Alrifa’i stressed the importance of the meeting, which is considered the first of its kind, in bringing together the leadership of the bank and the branch managers. At the same time he also reiterated the fact that the meeting aims to show the Bank’s strategic plan for 2014-2016 in order to give the branch managers an overview of these goals. He also stressed the importance of marketing the strategic plan to the branches, considering that they are the most capable of implementing it through their work.
Alrifa’i thanked the efforts that were expended by the branches of the bank throughout 2013, and he called for them to continue their work during the coming years in order to ensure the achievement of the strategic plan.
The participants held two workshops during the meeting. The first one was about estimated budgets, and the other one discussed the skill of dealing with customers. The activities of the meeting were concluded with a seminar about effective managers.
Tadhamon International Islamic Bank participated in sponsoring the Forum for Small and Medium Sized Projects (under the slogan of “Strategic Direction towards Economic and Social Development”). The forum was held in the capital, Sana’a, on the 22nd and 23rd January 2014, and was organized by the Association of Yemeni Banks in collaboration with the Union of Arab Banks and the Council of Arab Economic Unity.
At the opening ceremony, His Eminency the Minister of Planning and International Cooperation, Dr. Mohammad Al-Saadi, stressed the importance of the forum in fostering the exchange of viewpoints and opinions among the Arab Banks in order to face the economic and developmental challenges. He praised the role of businesspersons, banks, and financial institutions in economic recovery and development through financing small and medium sized projects. He stated that these projects have proven their success in many countries.
Speeches were also made by the Secretary General of the Union of Arab Banks, Wessam Fattouh, the Secretary General of the Council of Arab Economic unity, Mohammad Alrabee’, the Governor of the Central Bank, Mohamed Bin Hammam, and the president of the Association of Yemeni Banks, Saleh Alquaiti. These speeches reiterated the importance of developing small and medium sized projects, especially when taking into account the bad economic situations in many Arabic countries. The speeches also pointed out the keenness of the Association of Yemeni Banks and the Union of Arab Banks in creating and raising economic and financial awareness through specialized meetings, forums, workshops, and training courses that serve Arab societies.
In recognition of the efforts of Tadhamon International Islamic Bank, and its leading role in developing small and medium sized projects, Mr. Wessam Fattouh, the Secretary General of the Union of Arab Banks, along with Mr. Mohamed Alrabee’, the Secretary General of the Council of Arab Economic Unity, and Mr. Mohamed Bin Hammam, the Governor of the Central Bank, presented Tadhamon bank with the Union of Arab Bank’s Shield. Mohammed Abdoh Saeed, a member of the Bank’s Board, received the shield.
For his part, Mr. Mohammed Abdoh Saeed presented the Bank’s Shield to Mr. Wessam Fattouh, the Secretary General of the Union of Arab Banks, along with Mr. Mohamed Alrabee’, the Secretary General of the Council of Arab Economic Unity, and Mr. Mohamed Bin Hammam, the Governor of the Central Bank.
During the activities of the forum, Tadhamon bank participated with a work paper presented by Abbas Albasha, the Executive Director of the Tadhamon Microfinance Program. The paper addressed the efforts that are being exerted by the bank in this field, and also addressed the obstacles and difficulties being faced by the program, as well as how to overcome them.
Tadhamon Islamic International Bank showed significant presence in the activities of the Forum, and gave out many small gifts to the participants. These gifts gained the admiration and relish of the participants.
It is worth mentioning that the Forum ended its activities with a reading of the final report in the presence of a group of businesspersons and banks, as well as a gathering of representatives from the banks and financial institutions from a number of Arab countries.
Our policy is to give our customers the optimum value and utmost importance, and make their satisfaction our main goal. This is shown through us continuously striving to help them achieve their dreams while always improving the services that we provide for them. We endeavor to foresee their needs and work to make them a reality, while providing bank services that are ideal and of the highest quality. We provide consultations and services that are as scientific and practical as possible, while taking into account the smallest details in their needs and wants. Any service we provide is executed with the greatest professionalism and expertise, and they are all provided in accordance with a plan for innovation and anticipatory services that increase our customer’s trust and satisfaction in our services. Based on the principles of integrity and honesty, we always aim to make sure our dealings are held to the highest standards of ethics.
We commit to providing the highest standards of financial services that are in accordance with Islamic Sharia, while strengthening the position of the bank in the financial and business market. We aim for competition that is socially responsible, knowing that customers will decide the level of quality of our services, and we will have to keep our customers satisfied through our incentives, integrity, and competence.
The International Division of Tadhamon International Islamic Bank held a number of meetings with the main banks in the world through which they discussed the market watch status under the political changes our country is undergoing.
It is to be mentioned that Tadhamon International Islamic Bank is the only Yemeni bank that made a remarkable presence in SIBOS International Forum which is considered to be an international banking event that is held in different places and is attended by banks from around the globe.
On the sidelines of the visit and within the tireless efforts that are spent by the International Division in TIIB to expand the relations base and strengthening them with various banks around the world, a contract was signed to open an RMB account with Bank of China which is considered to be one the pioneering banks worldwide.
The GM of Tadhamon International Islamic Bank Mr. Mohamood Ata Al Refai received Al Baraka's Islamic Banking Group delegate which visited the bank on September 30, 2013.
An in depth meeting was held in which the representatives of Tadhamon International Islamic Bank and the delegate of Al Baraka Banking Group explored the fields of cooperation and the possibilities of improving the partnership and relations between Tadhamon Islamic International Bank and Al Baraka Banking Group.
During the meeting, Mr. Mahmood Ata Alrefai, the GM of Tadhamon International Islamic Bank, was handed the shield of Al Baraka Banking Group in recognition of the mutual cooperation and the ever improving relations between the two pioneering banking institutions.
Albaraka's Group delegate consisted of:
Mr. Mohammed Issa Almataoa'a CEO and Board Member
Mr. Hussain Alnatei Senior Manager, Head of International Banking Department
Mr. Salah Yousef Albsitini First Vice President- Credit and Risk Management
Al Baraka Group is considered as one of the pioneering and specialized groups in the industry of Islamic Banking Services.
Tadhamon International Islamic Bank (TIIB) has honored 29 of its distinguished and outstanding employees for the year 2012 from the Bank different departments and governorate branches . By this occasion, the Bank celebrated its distinguished job performance employees at Mercure Sana'a Hotel on Thu. 20 June 2013.
Mr. Mahmoud Ata Ar-Refai', Bank GM, confirmed:"The employee is the Bank first and foremost capital and the Bank success is linked to employees efforts provided to clients".
Mr. Ar-Refai' said: "Tadhamon International Islamic Bank (TIIB) is one of the few institution at regional level that honors its employees. This honoring comes as part of enterprise management affirmation to deepen work culture, commitment and honor of service". He also confirmed the Bank keenness on staff present and future. He added: " Each person is in the spot of our interest, appreciation and respect. We appreciate all workers and every sincere and constructive effort whether it is small or big. It is highly appreciated by us". The GM has pointed that the Bank intends to widen the honoring circle to include all Bank subsidiaries.
In the other hand, the outstanding employees expressed their great happiness of such honoring which expresses the Bank appreciation towards its staff. They confirmed that this symbolic appreciation gave them a morale boost and enhances their career security and loyalty to the bank.
It is worth mentioning that this annual tradition conducted by the Bank to honor its outstanding staff comes as an appreciation for their efforts and encouraging them as been considered the primary factor in the Bank progress and development. This tradition aims to enhance employees' loyalty and their self-censorship that ensures the performance improvement and development, work quality and enhances their competitive spirit.
At the end of the celebration, certificates of recognition and symbolic awards has been distributed to the honored employees. By this occasion, Bank management wishes all staff, clients and our beloved country Yemen more development and success.
TIIB has announced that its revenues and profits for the last year 2012 has risen to YR 24.448 B with a total increase of YR 6.165 B in comparison with the year 2011.
Mr. Abduljabbar Hayel Saeed, Chairman of Bank BOD, has said in the Bank ordinary general assembly meeting held in Sana’a yesterday that the unified budget of TIIB witnessed a rise in 2012 and reached YR 450.113 B with a total increase YR 91.974 B in comparison with the year 2011 budget.
He added: “The customers’ deposits balance also witnessed a leap which led to an increase of YR 375.450 B in comparison with YR 283.85 B in 2011, This financial leap reflects the customers’ big trust towards the Bank.
He mentioned that TIIB was able to achieve good results better that his competitors in spite of the abnormal circumstances the country is experiencing nowadays. This comes as a result of shareholders and customers support to the Bank and the efforts and persistence of the Bank significant staff.
In the meeting, the ordinary general assembly has viewed the Bank BOD report about the fiscal year ended in Dec. 31, 2012, and approved it. The ordinary general assembly listened to Sharia Compliance Board report and made financial quittances for the BOD Chairman and members. The BOD Chairman has been granted to assign an auditor for the fiscal year 2013.
The meeting, that was attended by Mr. Mahmoud Ata Ar-Rifai, Bank GM and Mr. Sami Mohammed Abdo Saeed, Bank Deputy GM, reviewed the Bank achievements and results during the year 2012 in addition to plans and strategies for the coming phase.
The meeting discussed the branches results during the 1st quarter of the year 2013.
The Deputy GM addressed his thanks and appreciation for all Bank staff for their positive achievements they have accomplished.
In his word, he praised the efforts exerted in developing the Bank performance and maintaining its competitiveness in banking market.
He stressed on the necessity to continue caring in modern banking services especially electronic and via-mobile ones, and upgrading services offered to customers.
Mr. Moath As-Sayyed, Anti-Money Laundering Unit GM, offered a paper about efforts the Bank is exerting to fighting anti-money laundering and global environmental effects.
This branch will be the seventh in Sana'a and the 24th in the Republic.
The opening of the branch comes in translation of the Bank's strategic plans to expand its banking activities and get closer to clients to meet their needs.
It is noteworthy that TIIB has been ranked top local bank for the fifth year in a row (2006-2010) in terms of the size of assets, capital, allocations, investment deposits, funding, investment and remittance according to the data of the Central Bank of Yemen.
"Platform Agency" PR services company had created a unique advertisement model for the opened branch by wrapping the entire Bank building to look like a present, creating suspense and amusement among ordinary people and surprising the opening ceremony audience with such creative idea that will be followed by a distinguished PR campaign according to the agency.
The opening was attended by Mr. Sami Mohammed Abdu Saeed, the Bank's Vice President, Mr. FatehiAbdulWasee Hail, CEO of Natco Cars and a number of businessmen.
In the ceremony , which was started with reciting some verses from Holly Qura'an , the deputy General Manager , Mr.Sami Mohamed Abdo Saeed , delivered a word of welcome and thankfulness to all honored employees for their efforts exerted so far, which yielded an astonishing success and progress in the bank's preserving its leading position and sustaining profitability .
"In such a moment", he said , "we are repaying and acknowledging the role of the elite employees". He further asserted that improvement of work is guaranteed when employees commit themselves to responsibility and self observation .
Mr.Saeed noted that maintaining the Bank's glamorous image and reputation requires a commitment and collaboration of effort , determination , and aptitude of all staff who then can face all challenges.
On behalf of employees, Mr.Mohamed Ali AlNaqeeb expressed sincere gratitude to the bank's management who has been so keen to encourage positive competition among employees so as they could have an equal chance to manifest their individual capabilities and exceptional achievements.
He noted that such a recognition by the bank's management is seen as an award to all employees who work with a one team spirit . This honoring ceremony will leave a great impression on the hearts and minds of employees and will be a catalyst for them to proceed on hard working with greater momentum .
At the end of the celebration, certificates of recognition and awards were given out to honored staff who in return expressed gratefulness to the bank's management .
The ceremony was attended by the Deputy General Manager , HR Manager , and Managers of various departments at the Bank .
Tadhamon international Islamic bank has announced that the balance of customers accounts and deposits advanced higher in the year2010 to reach YER 322 billion and 979 million compared to YER282 billion and 571 million , and thus achieved a growth rate of 14% .
In its extraordinary 16th round meeting held in Sana'a , the Bank's General assemblyhas approved the report of board of directors unfolding the bank's financial activities for the year ended 31st Dec.2010, and the report of Sharia'h supervision board .
A new member of the Board of Directors Mr.Waleed Ali Mohamed Saeed was elected in this session , and the board 's view to distribute YER1.00 billion as shareholders profits was approved.
The board of directors members have expressed difficulties facing the banking business in Yemen in the wake of negative consequences of global financial crisis and its impact on Yemen. However , Vice-chairman Mr.AbdulGalil Radman affirmed that Tadhamon International Islamic bank has been the leading institution in the field of banking business in Yemen and has contributed with 20.9 % of banks assets in Yemen , in addition to gross deposits at 22%, loans and finances at 22% ,capital equity at 28 % , and thus becomes the first among all operating banks in Yemen in terms of assets, and volume of business .
He added that Tadhamon International Islamic Bank maintains the largest volume of assets among Yemeni Banks evidenced in the bank's consolidated balance sheet as at end of the year 2010 at YER379 billion and 844 million compared to YER343 billion and 969 million as at end of 2009 , with an increased amount of YER 35 billion and 874 million and growth rate of %10, and thus achieving the first rank among 18 banks in Yemen with regard to gross assets value .
The vice-chairman noted that volume of investments , and finance transactions has advanced up to YER281 billion compared to YER244 billion earlier , with a growth rate of 15% .
On his part, Mr. Shawki Ahmed Hayel Saeed , Member of the board , and managing director has expressed satisfaction at the bank's level of developments and success achieved so far in the year 2010.
He added that the bank has implemented one of most updated core banking systems in the Yemen and in the Arab world in large , that will help in reducing operating costs, and add an advantage of speedy and accurate processing of transactions , delivery of services to customers , and flexibility of possible service expansion in future .
Mr.Shawki A.H.Saeed highly appreciated central bank of Yemen efforts and cooperation with local banks, including Tadhamon International Islamic bank , referring to CBY support for the Yemeni banks' endeavor to improve their banking activities, and finance transactions in particular, namely CBY approval to finance main commodities as part of procedures to eliminate the ongoing crisis in Yemen.
Further , he noted that banks fell under a great pressure in the way that clients resorted to liquidate their deposits as the country indulged into the ongoing crisis . However, customers have resumed in May a process of depositing their funds again as banks maintained a more stable cash management.
In their comments , the independent auditors , CBY and ministry of industry and commerce representatives confirmed that financial statements of Tadhamon International Islamic bank impartially display all essential aspects and financial standing of the bank and noted that the bank has abided by accredited accounting standards , and conducted activities and meetings of its ordinary and extraordinary General Assembly in a satisfactory manner and no violation was recorded in this regard .
Tadhamon International Islamic bank has been declared a winner of the "Best Islamic Bank Award for 2010", during an annual awarding ceremony held on 28th Feb.2011 in Dubai by an international awarding establishment "Islamic Finance News Awards" that surveys the performance of financial institutions in the Islamic banking sector , as Tadhamon has come ahead of all Islamic banks operating in Yemen .
Mr. Shawki Ahmed Hayel ,TIIB Member of the board and Managing Director comments by saying "We are delighted at this announcement since the bank has been honored by the" Islamic Finance News Awards "as the Best Islamic Bank in Yemen which comes as an evidence of the bank's remarkable financial standing , and high quality level of its unique Islamic banking services in Yemen . He adds" we are confident that Tadhamon International Islamic Bank will play a pivotal role in promoting Sharia'a -compliant banking business, in addition to constantly strengthening its leading position in the Islamic banking sector.
on his part , Mr. Rafiq Nikolaus Schwarz CEO underlines the fact that this award reflects the valuable role dramatized by Tadhamon International Islamic bank and its success in the banking business sector in Yemen, which has been also the catalyst to maintain its presence in the global and regional markets based on its policy of international expansion.
Since its emerge in 2005, the "Islamic Finance News Awards" has taken up the role to honor the best financial and banking institutions operating in the Islamic finance sector by granting one of the outstanding and most respected awards in the global Islamic financial community.
The surveys carried out by "Islamic Finance News Awards" have been known as the most accurate indicator in describing the ongoing trends in global financial markets, and its annual evaluations are most reliable and transparent tool to gauge performance in the Islamic banking sector .
This award has come as an evidence of the bank's prominent position as one of the leading financial institutions operating in line with Islamic sharia'a in Yemen.
On this occasion, Mr. Shawki Ahmed Hayel ,Member of the board and Managing Director comments by saying "We are delighted at this announcement since the bank has been honored by the" Islamic Finance News Awards "as the Best Islamic Bank in Yemen. He adds" we are committed to providing a wide range of unique Islamic banking products in Yemen, and we are confident that Tadhamon International Islamic Bank will play a pivotal role in promoting Sharia'a compliant banking business, in addition to constantly strengthening its leading position in the Islamic banking sector.
Mr.Shawki A.Hayel underlines that fact that this award reflects the valuable role dramatized by Tadhamon International Islamic bank and its success in the banking business sector in Yemen, which has been also the catalyst to maintain its presence in the global and regional markets based on its policy of international expansion.
Tadhamon International Islamic bank provides its customers with a range of comprehensive products and services extended to clients in high level standards of quality as effective as those applied in the world's largest banks. He added that key factors behind success of Tadamon International Islamic Bank is giving priority to customers , promoting the use of up-to-date technology and improving the employees' performance by means of constant interaction with Human resources.
The "Islamic Finance News Awards" honors the best financial and banking institutions operating in the Islamic finance sector by granting one of the outstanding and most respected awards in the global Islamic financial community.
Since its inception in 2005,the "Islamic Finance News Awards" has been known to carry out an annual poll which results are seen as the most accurate indicator in monitoring the existing movement in global financial markets, and its surveys are most reliable and transparent within this sector.
In line with its contribution in improving youth 's careers and its commitment to social responsibility , Tadhamon International Islamic Bank launched the program of "qualifying young people for the labor market", which was organized on Saturday 25/1/2011by the Development Corporation of Administrative Sciences . The program which will last for a week time targets 2600 participants who have been involved in a number of training and qualifying courses aimed at developing and enhancing their capabilities and skills to achieve priority in the labor market.
For their part, participants in the program expressed their thanks and appreciation for this unique role of Tadhamon International Islamic Bank , and stressed that this program has opened the door for them to aspire for wider perspectives and gave them the opportunity to acquire new skills, which will have a fruitful impact on their future career.
It is worth mentioning that this program has hosted a number of accredited experts in the field of management and HR development from Arab Republic of Egypt.
This is the first batch in field of Mobile programming and maintenance which was named after the late prominent media specialist Mr.Yahya Allaw , whose name was also marked on one of the major training halls in recognition of his memory and role in serving his homeland and nation .
The ceremony was attended by sheikh Hassan Heigh , secretary General of local councils in Hodeidah ,Eng.Mohamed Abdullah Hajar , Director of Social Affairs and labor Office, MP Mr.Mufadhal Ismail Ghaleb and Mr.Othman Aidaroos , Director of Tadhamon Micro-finance program ,Mr. Mohamed Yahya Allaw , son of late Mr.Yahya Allaw , Mr.Khaled Allaw , production manager of the deceased 's media programs , in addition to a group of dignitaries and journalists in the governorate.
During the celebration , several media items were presented . Speeches also were delivered by Secretary General of Local Councils Sheikh Hassan Heigh, as well as by director of Tadhamon micro-finance program Mr.Othman Aidaroos .
In his speech ,Mr.Aidaroos promised to provide jobs for the three top graduates in addition to furnish all batch graduates with package of engineers' special bags to kick off their jobs.
He, further, noted that this graduation comes in context of Tadhamon Micro-finance program contribution in the process of economic integration and sustainable development , support and rehabilitation of youth and equip them with technical skills necessary to assist in bettering off living conditions of the society . Moreover, Mr.Aidaroos praised the role of the late Mr.Yahay Allaw in media programs that addressed interests , and cares of youth life .
At the conclusion , top graduates were honored , and also in recognition of their roles the official authorities, son of deceased Mr. Allaw , director of his media programs , media personnel , news sites runners , and distinguished participants in Orphan summer activities were all rewarded .
At the opening ceremony which was attended by Dhamar Governor Mr. Yahya ALamari , the Prime Minister stated that Tadamon International Islamic Bank has become the largest in Yemen, and has contributed significantly in steering banking activities, Yemen economic movement at large and development pace in Dhamar governorate in particular .
Dr Mujawar denoted that the government and the local authorities in Dhamar will do the needful to facilitate investment activities and provide all necessary care for investors to enable them to bolster the national economy. The prime Minister praised the role of Tadhamon International Islamic bank in boosting up trade activities and investment at all economic sectors in Yemen.
On his part, Mr. Shawki Ahmed Hayel Saeed , TIIB Managing Director thanked H.E the prime minister and his accompanying delegation for attending this ceremony and highly appreciated prime minister's unlimited support for investment activities in our country, pointing out that the Bank has adopted strategies and plans to advance banking development projects in Yemen through introduction of the latest banking services ,and electronic systems, and providing more innovative investment products to meet customer needs and their future aspirations.
He added that the new building will provide optimal banking services through the modernized mechanisms and programs adhering to standards of Islamic banking run by professional staff, ensuring the achievement of best returns for shareholders and depositors, offering most favorable services customers, and thus , contributing to the economic and social development.
The inauguration event was attended by Mr. Sami Mohammed Abdo Saeed, Deputy G.M of the Bank and Mr. Abdullah Al-Hadda , Manager of TIIB Dhamar branch.
The ceremony was started with a recitation of verses of Holy Quran. Then, Chief Executive Officer Mr. Rafiq Nicholas delivered a speech in which he hailed the effort made by the bank's employees and underlined that the bank's success has been a reflection of the success of all its staff , calling on all employees to do more to achieve the objectives of the bank.
On his part, Mr. Sami Mohamed Abdo Saeed, Deputy General Manager addressed the attendees . At the outset of his speech, he welcomed them and expressed his thankfulness and appreciation for all of the bank's employees at various levels and specialties. He noted that honoring this selection of personnel doesn’t imply that other employees do not deserve to be honored. However, all TIIB staff are well reputed for their excellence . He went on saying that the process of nominating and selecting of rewarded staff passed through several steps in which specific criteria was equally applied to each nominee , culminating into the selection of the current listed staff based on variation of individual performance.
On behalf of the honored staff Mr. Abdulwasa Ali Saif expressed great thanks and deep gratitude to the bank's management for the great care and attention they pay to employees, pointing out that this recognition will leave a positive impact on the bank's staff, and will open the door for competition among them. In return this , Mr.Abduwasa stressed that all honored people will meet this recognition not only with uttering words of appreciation but also in practice and in exhibiting higher level of work performance .
The celebration was rich with several artistic items and poetry that won admiration of the audience.
The Ceremony was attended by the bank's Asst.General Managers, Heads of departments and a number of branch managers.
The Assembly has also reviewed and approved the report of the Shari'a Supervision Board and the Central Bank's report on the financial statements of the Bank in 2009 , and has declared the chairman , members of the Board and the auditors as free against any claims with regard to their work for the financial year in 2009.
At the meeting, Chairman of the Board has denoted that the Tadhamon International Islamic Bank realized a net profit of 23 billion and 249 million Yemeni Riyals during the financial year 2009 and growth of 2% compared to the previous year 2008 .
The chairman said that despite the challenges during the year 2009 topped by the global financial crisis, the investments and finances of Tadhamon International Islamic Bank has grown by 26% with an increased amount of 244.4 billion riyals in 2009 compared to 193.3 billion riyals in the previous year 2008 .
The Bank , he added , was capable to utilize its resources and to build on domestic and international investment opportunities , with a strict commitment to professional standards of high quality performance , avoiding any possible risk of banking finance and investment.
He pointed out that those measures qualified the bank to be the first of all banks in Yemen and to attract deposits amounting to 283 billion riyals compared to 239 billion riyals in the year 2008, with a growth rate of 18% .
He added that investment deposits at the bank stroke a profit of up to 14 billion and 302 million riyals, with an increase of 2 billion and 102 million riyals, and growth rate of 17% higher than that in year 2008 .
The Chairman noted that Tadhamon International Islamic bank has allocated an adequate risk margin exceeding 11 billion and 800 million riyals against risks of investment and casual liabilities , and this allocation is considered a positive indicator that signifies the bank's strength in the Yemeni market.
On the other hand , He revealed the bank's intention to establish an independent board for the microfinance program so as to grant this business branch its full independence in the near future.
He said this move is meant to reflect importance of this unique program in the bank by means of updating its mechanisms, regulations and policies in line with the latest developments in this field , in addition to introducing appropriate changes and privileges for its management to boost their productivity .
For the fourth consecutive year, Tadhamon International Islamic Bank has taken the lead of banking business in Yemen and has been declared as the largest bank , surpassing all sixteen banks operating in Yemen, in terms of total assets and deposits in both local and foreign currencies, and the total finance business, capital and equity .
The annual report of the Central Bank of Yemen on the banking developments in Yemen in 2009 indicates that Tadhamon International Islamic Bank has dominated banking business in the country over the past year and has taken hold of 20.4% of the total activity of banks in Yemen.
The total assets of Tadamon International Islamic Bank rose by 50 billion riyals in one year and thus now exceeding 333.900 billion riyals, with a growth rate of 17.6%.
According to the report , the volume of term deposits in both local currency and foreign currencies held with the Bank is the largest among banks operating in Yemen.
In terms of local currency, the bank has allured over the past year the largest increase in deposits amounting to 25.616 billion Riyals , and as a result the deposit balances jumped to over 143.899 billion riyals. Similarly, the balance of bank deposits in foreign currency, which is the highest among banks in the country have made an increase rate of 15.6% to reach an amount equivalent to 125.166 billion riyals.
The report stated that Tadhamon International Islamic Bank has participated with 20.38% share of overall finance and loans granted by the banks in Yemen to various economic sectors and the bank>s finance operations have amounted to 83.858 billion riyals
The Deputy General Manager Mr. Sami M.A.Saeed along with Manager e-Banking Services, and Asst.MGR e- Banking received on 17th instant, a delegate from Credit Cards Services Company , known as "CSC".
The "CSC" officials , represented by General Manager , and ATM operations Manager were acquainted with level of development In Tadhamon's banking services . The delegate highly appreciated Tadhamon 's performance and how development pace in the bank goes in par with ongoing advancement of banking technology.
During this visit, the two sides agreed that Tahdamon ATM will accept the use of Unionpay Network "cards" , a number exceeding 2 billion cards in use worldwide.
on the other hand, it was agreed that Tadhamon "Local Cards" shall be activated for use internationally in ATMS connected though Unionpay Network , totaling to 1,190,000 ATMS, and 2,100,000 POS covering a wide range of countries around the world.
A number of 20 employees from Investment Departments of Tadhamon International Islamic Bank 's Branches have taken part in a qualitative Training Course specialized in Modes Of Finance And Investment In Islamic Banks . The training program has been conducted at the Open Education Center in Sanaa from 7-12/11/2009 .
In the event , the trainees have been made familiar with nature of resources utilized by Islamic Banks , specifications of Islamic Banking , standards of Islamic Finance and Investments , and how Islamic Finance has contributed so far in addressing economic problems. In addition, participants were acquainted with importance of Islamic finance and investment products .
In the meantime , another program has been kicked off during 7-12 /11/209 with the attendance of 27 employees from different branches of the bank, participating in a training course focused on identifying and controlling risks related to e-banking , and other banking operations .
Tadhamon international Islamic bank has been estimated by “economy and businesses” Arab Magazine as the largest in Yemen in light of financial indicators realized in the year 2008, and the bank’s market value of capital employed for the first half of current year 2009.
In its latest analytical study for the Arab banks’ position in wake of global financial crisis, the Magazine has highlighted how Tadhamon has managed to spur up 57 % capital increment and thus to come the first amid other Arab Banks in this step , according to Arab Banks financial statements analysis for years 2007-2008 .
It has been stated that Tadhamon International Islamic bank has stepped up 11 ranks in the list of top 150 Arab banks , with its total assets estimated at 1387 million dollars , a growth rate of 58.57 % in owners equity to reach 131 million and 138 thousand dollars , and realized returns of 9.254 million dollars .
The Study says Tadhamon international Islamic bank has leaped up to 119 rank in the list of banks’ assets and to 120 rank in the list of revenues on average assets.
Tadhamon international Islamic bank has kicked off the business function of "Tadhamon Capital" on Monday 19th October, as the first investment company specialized in Islamic investment industry based in Manama , the kingdom of Bahrain.
The company, which is fully owned by Yemeni shareholders aims at making the door widely open for investments flow between states of the Gulf cooperation council , the middle east , and Yemen.
"Tadhamon Capital" manages investors' assets with a total value exceeding the sum of 400 million dollars, and offers a unique package of investment solutions pertaining to assets management , private equity investment, real estate, and treasury operations.
The inauguration ceremony took place at "Tadhamon Capital" Headquarters located at Bahrain financial Harbor in Manama, under the auspices of H.E Mr.Rasheed AlMaeraj , governor of Central Bank of Bahrain, and in the presence of Mr.AbdulGabbar Hayel Saeed , chairman of "Tadhamon International Islamic Bank" and "Tadhamon Capital", and H.E. Dr.Ali Mansour Bin Sefa , Yemen's ambassador to Bahrain, in addition to other outstanding figures of Islamic banking and investment industry in Bahrain, Yemen , and the region .
In his speech during the celebration, Mr.Rasheed Almaeraj, Governor of CBB affirmed that at the time of launching the first financial Yemeni company in Bahrain, the Yemen-Bahrain bilateral relations are at the peak of flourishment and they have developed into wider scopes of cooperation. He expressed the kingdom of Bahrain's welcoming stance ,and to be so pleased to witness the establishment of "Tadhamon Capital" based in Manama . This achievement reflected the fact that kingdom of Bahrain remained the Financial Hub in the region, capable to host variety of financial companies owned by investors from other countries , and "Tadhamon Capital" is one of such examples .
On his part, the Chairman of Tadhamon International Islamic Bank , chairman of "Tadhamon Capital" Mr.Abdulgabbar Hayel Saeed voiced out his happiness to officially launch the work of Tadhamon Capital at its premises in Bahrain.
Mr.Saeed attributed much of the success of establishing this financial company to the exquisite and solid ties at all levels between Yemen and Bahrain.
He added :"This investment project reflected a high level of trust we rendered to kingdom of Bahrain and our belief in its pioneer role , being one of the most pivotal financial centers in the region , and further relied on our foreseen perspective for a promising future for Islamic banking and investment industry ".
In his comment, the CEO of Tadhamon Capital Mr.Waleed Rashdan pointed out that Tadhamon Capital team will focus on exploring , locating , and evaluating investment opportunities on the basis of proper understanding of financial markets outlets , forecasts, researches , and effective fundamental analysis backed with long experience in providing the optimal solutions for local and regional investors and offering endeavors to invest in new financial markets .
In this connection, the prime minister of Bahrain, His Highness Sheikh Khalifa Bin Salman Aal Khalifa received on Tuesday 20th of October ,in Manama , the Chairman and Board Members of "Tadhamon Capital" headed by Mr.AbdulGabbar Hayel Saeed .
During the meeting , prime minister welcomed and hailed the event of inauguration of "Tadhamon Capital" in the kingdom of Bahrain , noting that this financial company is a unique establishment at the level of international investment sphere ,being one of financial institutions that promotes the modes of Islamic finance worldwide , through providing innovative ideas for investors. He added that Islamic Banking became so dominant in the Arab , and Muslim World since it is so relevant to the people life and can meet their economic and social needs .
He finally reiterated the kingdom of Bahrain's welcome for Tadhamon Capital to start operating as one of the Islamic financial Institutions, saying that he believed that "Tadhamon Capital" could contribute actively and add to the success of Investment Industry.
Under the golden sponsorship of Tadhamon international Islamic bank, the Islam and Tourism Forum will be launched in Sana'a from 11 -13 October. This function has been organized by Ministry of Tourism, with the participation of a number of remarkable Muslim scholars, thinkers , and preachers.
As part of its commitment towards steering up social development, the TIIB is so keen to support such religious , and cultural functions carried out in different governorates of Yemen . Such forums play an outstanding role in advancement of cultural , economic , commercial movement in the country and contribute in raising public awareness about the concept of Tourism in Islam and its effects on human civilization and culture .
Tourism can be a promising economic sector offering a new scope of increasing job opportunities , and assist in reducing poverty and unemployment.
This forum is deemed so important , being a unique gathering for a number of a prominent scholars , and preachers in the Muslim world , of them Dr.Ayedh AlKarni, Sheikh Suliman Algebilan , and Dr.Ahmed Alkubaisi , in addition to an outstanding group of Yemeni religious scholars from different governorates in Yemen.
As part of Tadhamon international Islamic bank sincere care to serve the Holy Quran, and a kind initiative to encourage youth to memorize Quran, the TIIB has been among sponsors of Ramadam TV Show " YEMEN RECITER" aired on Alsaeeda Sat.Channel during the blessed month of Ramadan . Competitors in this program were the best selected group of male and female memorizers and reciters of Holy Quran from different governorates of Yemen.
In its extraordinary meeting on Wednesday 19th Aug, the General Assembly of Tadhamon international Islamic bank chaired by Mr.Abdulgabbar Hayel Saeed has approved that the outstanding unpaid shares of the bank to be distributed for local shareholders in line with their rates of ownership , with effective date not later than 10th of Dec.2009.
On this occasion, the chairman of the Directors Board Mr.Abdulgabbar H.saeed affirmed that TIIB has rendered a remarkable positive growth in the 1st half of the current fiscal year 2009 , evidencing that the bank 's outstanding performance come s up to the entire satisfaction of both its management and clients who day after day see TIIB as their first choice and most trusted banking services provider.
Mr.Abdulgabbar H.saeed unfolds the fact that the bank has been in receipt of several proposals for strategic partnership from at least 4 international and regional banks , but the management 's view was to wait and see until more vivid signs indicate that international financial crisis is approaching an end .
However , the chairman reveals the bank 's future outlook to proceed on introducing strategic partners in view of the bank's plan to boost the capital up to YR 100 bln. , in the coming future so as to further solidify its standing and get a favorable exposure to the international banking experiments .
"the TIIB 's value of shares is reported at YR 5770 as per latest estimation by a specialized international evaluating company , with an accrued growth rate of 100 % , which is a clear-cut proof that the bank is heading on a dynamic stance of advancement at both financial and functional levels", Mr. saeed concluded .
The bank kicked off Western Union services in May 2008 at all of its 24 branches and thus made it easy , fast and safe for its clients to transfer cash money in seconds covering various areas around the world.
Tadhamon internanal Islamic bank has made an active participation in Holy Ramadan Sales exhibitions launched by Hayel Saeed anam Group in all governorates of Sana'a , Aden ,Ibb , Taiz ,and Mukala during the period 15-30 Sha'aban 1430 a.h.
This step comes as part of annual Pre-Ramadan functions, in which the bank is keen to make an outstanding presence in the Yemeni Market .
The bank aims at making an active interaction with clients , and visitors of the Ramadans fares ,and offering its services to the companies participating in the fairs.
THIS initiative by the bank was hailed and widely welcomed by its clients , visitors of the exhibitions and other participants , which adds to the bank 's record of excellent reputation and trust among people who feel so proud and confident that TIIB is always there to meet their banking requirements .
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