Wifack International Bank SA
BBVMT:WIFAK8.00
TND
0.00
(0.00%)
ISIN
TN0007200017
Return %
Stock
S&P 500
1Y
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14.20
3Y
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81.12
5Y
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68.34
Capital Structure
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- Sector
- Finance
- Industry
- Major banks
- Address
- Medenine Tunisia
- IPO Date
- Jul 13, 2006
- Similar Companies
- Business
- Wifack International Bank SA is a Tunisia-based financial institution that provides universal Sharia-compliant banking, financing, and investment services to retail, corporate, small and medium-sized enterprise (SME), and institutional clients. Founded in 2002 as a leasing entity and converted into a full-fledged Islamic bank in 2015, the bank is headquartered in Médenine, Tunisia, and operates an extensive branch network across the country. The company's core products and services encompass deposit and savings solutions, including non-interest-bearing checking accounts, Wadi'ah savings accounts, and profit-sharing Mudaraba term investment deposits; retail and consumer financing facilities, including Murabaha for consumer goods, personal acquisitions, and residential real estate; commercial and industrial financing solutions, including Ijara leasing for machinery, industrial equipment, and commercial real estate, Istisna'a contracts for construction and manufacturing projects, Salam forward contracts for agricultural and trade procurement, and Musharaka partnership financing; transactional and electronic banking services, including Sharia-compliant debit and credit cards, ATM network operations, domestic and cross-border fund transfers, direct debits, and the WifackNet online and mobile banking platforms; and corporate trade and treasury services, including letters of credit, documentary collections, bank guarantees (Kafala), foreign exchange services, and liquidity management. In recent developments, Wifack International Bank has accelerated its digital transformation strategy by deploying advanced mobile payment solutions and upgraded electronic banking infrastructures, expanded its nationwide branch footprint, strengthened strategic trade finance and liquidity lines through partnerships with international multilateral institutions including the International Islamic Trade Finance Corporation (ITFC) and the Islamic Corporation for the Development of the Private Sector (ICD), and reinforced its bancassurance distribution capabilities through strategic alliances with local Takaful insurance providers.