Tunisia: Islamic development bank could withdraw from Zitouna bank’s capital
(Ecofin Agency) - Islamic development bank (IDB) would have decided to sell its 21% share in Zitouna bank’s capital, a Tunisian bank specialized in Islamic funding. A disagreement of specifications would be at the origin of this decision, according to Tunisian media.
This withdrawal could benefit Triki group, a holding made of companies with various activities such as agribusiness, aviculture, furniture as well as construction. The group could disburse 80-90 million Tunisian dinars for this acquisition.
Let recall that IDB entered in the Tunisian Bank’s capital, in 2014, with TND37.5 million. Created in 2009, Zitouna bank is one of the leaders in Islamic finance’s local market.