Tunisia’s Wifak International Bank, which specializes in Islamic banking operations, closed its first bond issue in accordance with the principles of Islamic finance on June 28, 2019, raising 15.2 million dinars.
This operation, whose subscription period started May 10, was arranged by Stock market intermediary Maxula Bourse. The 15.2 million dinars, provided by about 400 subscribers (individuals and legal entities), will be used to strengthen the bank’s equity capital and meet its medium- and long-term commitments.
Wifak International Bank will use part of these funds to provide loans in accordance with the principles of Islamic finance to individuals and companies in Tunisia. At the end of the first quarter of 2019, the financing granted by the bank to its customers reached 403.8 million dinars, up 44% compared to the same period in 2018.
Chamberline Moko
Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...
African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian b...
Development Partners International sold its 20.17% stake in Atlantic Business International for mo...
Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...
Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...
Lucara plans a share placement of at least C$70 million to fund Karowe UGP The Lundin family will subscribe up to C$70 million to maintain its...
Rwanda and Oman signed four memorandums of understanding covering logistics, aviation, airports, and digital technologies. Oman Air announced plans...
Ethiopian PM Abiy Ahmed held high-level talks in Djibouti on regional security, trade, and economic cooperation. The visit comes amid tensions...
Nigerian regulators will require refunds for failed airtime and data top-ups within 30 seconds starting March 1, 2026. The rule will apply to...
Benin considers hosting a pan-African cultural event inspired by FESMAN but plans to use a different name. Culture Minister Jean-Michel Abimbola...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...