TNT Insider Staff | July 9, 2009 | Finance
Islamic Banking investors recover funds
The Central Bank to the rescue as worried IBS investors recoup funds.
Scores of persons who had invested in the Clico Investment Bank’s (CIB) Islamic Banking Service are a happier lot.
After months of worrying about the fate of the millions of dollars invested in this new scheme, investors are getting back their money. Payments began several days ago at the offices of the failed financial institution, Herbert Street, Newtown, through the instrumentality of the Central Bank
Tomorrow will be the last day for the payments which will be done from 9a.m to 3p.m.
The payments will reflect fund balances as at May 31.
CIB introduced Islamic Banking to this country several years ago.