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Siraj Palestine Fund I a strategic partner in the National Bank

2015-03-26

The National Bank TNB announced that Siraj Palestine Fund I has increased its ownership in the bank after purchasing 6,916,891 shares in a transaction worth $8.64 million during the trading session of Wednesday 25/03/2015. Accordingly, Siraj Palestine Fund I has raised its stake to 15.87% from the $75 million paid-up capital, to become a strategic partner. The Siraj Palestine Fund I, a $90 Million fund, was launched on February 3, 2011, is a private equity fund comprised of direct equity investments in viable start-up, distressed, SME and relatively large enterprises in Palestine across various economic sectors. Siraj’s investments are intended to unleash the potential of these Palestinian businesses, while promoting technological advancements and development in the country, spurring economic growth, job creation and innovation in Palestine. Siraj has plans to launch future funds focused on the Palestinian market thereby contributing to the sustainable development of the country.