Materi, president of the company, said that “at a time when throughout the world, the press, are forced to merge to survive, I am here to give the group Assabah- Le Temps, the means of its ambitions“. El Materi added that his goal was to contribute to the quest for the truth and to contribute to the democratic climate in Tunisia. He stressed that his aim was to contribute to the Tunisian pluralistic media landscape with a stronger “Assabah-Le Temps Group, keen on innovation, more open to youth and more focused on issues of our time”. In September 2007, Princesse El Materi Holdings launched the first Islamic private radio station: Zitouna FM (Zitouna is the name of a prestigious Mosque in Tunis), which broadcasts 24 hours a day and covers the entire territory of Tunisia. The station's deputy director Mohamed Machfar outlines the vision for the station: “the correct understanding and discussion of the Qur'an is the main subject of Radio Zitouna". In January 2009 Princesse El Materi Holdings started its second business promoting the business sense of Islamic values. Said to be its most ambitious project yet, the group obtained the approval of the Tunisian monetary authorities to create Banque Zitouna the Islamic commercial bank specializing in Islamic finance (marketing of financial products respectful of the Sharia ). With a capital of 30 million dinars, its formation was announced by a publication in the Official Gazette of the Republic of Tunisia on 10 September 2009. Zitouna Bank, whose Arabic name is in reference to the olive tree, will provide services to individual customers, Tunisian and international enterprises and investors, as much as it will contribute to the country’s development effort. Simultaneously the group is opening an insurance company carrying similar branding of: Zitouna Takafoul. Zitouna Bank was officially inaugurated on May 28, 2010. In recognition of the success of the label Zitouna, The group entered the Agricultural industry by planting olive trees on a plot of 1,200 hectares. The project will introduce new varieties of olive never planted in Tunisia and will rely on new technologies in all phases of production. On November 22, 2010, the group released a press statement that it has agreed to buy, along with Qatar Telecom QSC, Orascom Telecom Holding’s 50 percent stake in Tunisiana for $1.2 billion. References External links Princess Holdings El Materi official website Sakher El Materi official website Companies of