The Islamic Development Bank (IDB) will sell its entire stake in Zitouna Bank to an investor.
According to our sources, the international Islamic institution would have chosen to sell it except surprise to the Triki group
The information comes as Al Karama Holding is preparing to launch an international tender for the transfer of direct and indirect public holdings in Zitouna Bank, and against all odds, the IDB has decided to totally disengage from the said bank of which it holds 20% of the capital.
The fault to a new point of disagreement with the state, related to the contents of the specifications.
In detail, the State refused any intervention by the IDB in the preparation of the specifications for the call for tenders and the discussions between the two parties concerning the “requirements” of the IDB would not have succeeded .
Hence the decision to sell all of its stake.
According to our sources, the IDB has agreed to sell the 20% it holds in the bank’s capital to the Triki Group. The transaction would cost the latter between 80 and 90 million dinars (about 38 million dollars).
