BCP, CIH and CDG want to purchase an Islamic bank and insurance in Tunisia

Banque Centrale Populaire and CIH Bank, Qatar International Islamic Bank (QIIB) and the Caisse de dépot et de gestion (CDG) are among the seven bidders competing to acquire 69.15% stake in Tunisia’s Zitouna bank and 70% stake in the insurance company Zitouna Takaful.

Through international bidding, the Tunisian State, Al-Karama Holding and Portfolio Invest, the majority shareholders of Zitouna Bank and Zitouna Takaful, want to sell a single block of shares representing 69, 15% of the capital of Zitouna Bank and 70% of Zitouna Takaful.

Authorized to practice Islamic banking since its creation in 2009, Zitouna Bank has 114 branches spread throughout the Tunisian territory. Zitouna Takaful has 48 branches. It is the first Tunisian insurance company to operate according to the Takaful model.