Wifak International Bank

What Wifak International Bank does

Wifak International Bank is a publicly listed Tunisian Islamic bank (Tunis Stock Exchange: WIFAK), founded in 2002 and headquartered in Médenine — the only Tunisian bank headquartered in an inland development zone. The bank operates 58 branches across Tunisia as of May 2026 and serves four customer segments: individuals (Particuliers), self-employed professionals (Professionnels), enterprises (Entreprises), and Tunisians Residing Abroad (TRE). Its value proposition rests on a fully Sharia-compliant product suite structured around Islamic finance techniques including Murabaha (cost-plus sale), Ijara (leasing), Moudharaba (profit-sharing), and Wakala (agency financing), overseen by a dedicated Sharia Committee.

The bank runs a multi-channel digital platform spanning WIFAKNET (web banking), Wifak Mobile (smartphone app), WIFAK SMS (transaction notifications), WIFAK Pay and WIFAK Pay PRO (QR-code consumer and merchant payments), TPE electronic payment terminals, and TradeNet for foreign trade operations. Its product portfolio includes 15+ Sharia-compliant card variants, multiple investment tiers (Hissab Istithmar Moukayed at 50,000 TND minimum up to Hissab Izdihar Al Wifak at 500,000 TND minimum), and over 30 specialized Islamic financing products covering real estate, vehicles, equipment, agriculture, pilgrimage, and green/solar assets. A wholly-owned subsidiary, WIFAK SICAR, provides venture capital financing to certified startups.

Wifak earns revenue primarily through net income from Islamic financing arrangements (Murabaha, Ijara, Moudharaba, Wakala), deposit-taking activities, banking fees and commissions (card annual fees, wire transfers, foreign exchange), and digital payment processing. Go-to-market is predominantly enterprise field sales through a relationship-managed branch network supplemented by self-serve digital channels. In March 2026, Fitch Ratings upgraded the bank to BBB-(tun) with stable outlook, granting Investment Grade status and validating its solvency, funding, liquidity, and profitability profile. The bank has also held the "Service Client de l'Année" designation in the Islamic Banking category for four consecutive years through 2026.

Name

Wifak International Bank

Legal name

Wifak International Bank

Website

https://wifakbank.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

101–250 employees

Short description

Wifak International Bank is a publicly listed Tunisian Islamic bank operating 58 branches across Tunisia, serving individuals, professionals, enterprises, and Tunisians abroad with a fully Sharia-compliant suite of financing, savings, cards, and digital banking products.

Ownership category

akta.pro rank

Product category

Islamic Retail and Corporate Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Trade Finance & Supply Chain (Shariah-compliant) (FSABAGAE), Islamic SME & Commercial Banking (FSABAGAB)

Keywords

• Islamic banking services
• Sharia-compliant financing
• Retail banking products
• Corporate banking solutions
• Digital payment services

Headquarters

HQ city

Medenine

HQ country

Tunisia

HQ region

Africa

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Islamic Financing (Murabaha, Ijara, Moudharaba): Profit from financing arrangements structured according to Islamic finance principles including Murabaha (cost-plus financing), Ijara (leasing), Moudharaba (profit-sharing), and Wakala (agency-based financing). Major financing portfolio includes Murabaha products as stated by Fitch.
2. Banking Fees and Commissions: Account maintenance fees, card annual fees, transaction commissions, wire transfer fees, and foreign exchange operations. Premium card tiers (Platinum, Gold) generate higher annual fees.
3. Deposit Taking: Client deposits form the primary funding structure, providing a stable funding base for the bank's lending and investment activities.
4. Digital Services: Revenue from digital banking services including WIFAKNET subscriptions, mobile banking, SMS notifications, and merchant payment processing through WIFAK Pay PRO.
5. Guarantees and Bonds: Commitment fees and guarantee commissions for bank guarantees including customs bonds, market bonds, advance payment bonds, and retention bonds.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

Wifak International Bank is a Sharia-compliant Islamic bank providing retail, professional, corporate and diaspora (TRE) banking services in Tunisia. Its core offerings include deposit accounts, Islamic savings and investment accounts, Murabaha/Ijara/Moudharaba/Wakala-based financing for individuals and businesses, debit and prepaid cards, letters of credit and trade finance, guarantees and bonds, and digital banking and payment services delivered via 58 branches and the WIFAKNET/Wifak Mobile/WIFAK Pay platforms.

Product overview

Wifak International Bank is a Tunisian Islamic bank offering a comprehensive suite of Sharia-compliant banking products and services. The bank's portfolio consists of digital banking services (WIFAKNET online banking, Wifak Mobile app, Wifak SMS notifications, WIFAK Pay and WIFAK Pay PRO QR code payments, and TPE POS terminals), a diverse range of debit cards including classic, gold, platinum tiers in national and international variants, Islamic banking cards under the Rassidi+ brand (Tashil, Familia, Pro) and Iddikhari, multiple account types (current accounts, foreign currency accounts, INR accounts for non-residents, professional and startup foreign currency accounts), Islamic savings products (Hissab Iddikhar family with variants for Hajj, Umra, education, and general savings, plus Hissab Istithmar investment accounts), and extensive Islamic financing solutions including Tamouil (general financing), Mourabaha products (participatory and photovoltaic), Ijara leasing for equipment, vehicles, and real estate, and sector-specific financing for healthcare, agriculture, construction, and more. The bank operates on a platform model with both branch-based and digital service delivery channels.

Differentiator

Problem solved

Functional benefit

Brands

• WIFAKNET: Online and mobile banking service for account management, transfers, and bill payments.
• Wifak Mobile
• WIFAK Pay
• WIFAK Pay PRO
• Wifak SMS

Products and services

• Current and Specialized Accounts (Compte Wadiaa, Compte Courant, Compte INR, Compte PPR, Compte Etranger en Devises, Compte Courant Rémunéré, Compte Professionnel en Devises, Compte Startup en Devises) Standard and specialized deposit accounts for individuals, non-resident Tunisians, foreign currency holders, professionals, and certified startups, supporting everyday banking and cross-border financial activity.
• Islamic Savings Accounts (Hissab Iddikhar family including Masken, Omra, Hajiet, Dirassat, Sghar) Sharia-compliant savings accounts based on the principle of preservation (iddikhar), with goal-based variants for Masken (general), Umrah, Hajj, education expenses, and minor/children savings.
• Islamic Investment Accounts (Hissab Istithmar Moukayed, Hissab Izdihar Al Wifak, Hissab Tanmeya Al Wifak, Hissab Istithmar, Hissab Ithmar) Sharia-compliant investment savings accounts offering profit-sharing and guaranteed-return structures, with tiered minimum initial deposits (e.g., 50,000 TND for Hissab Istithmar Moukayed, 100,000 TND for Hissab Tanmeya, 500,000 TND for Hissab Izdihar Al Wifak).
• Islamic Personal Financing (Tamouil Akkarat Afrad, Tamouil Binaa Masken, Tamouil Tajdid Masken) Sharia-compliant personal and housing financing products including property financing for individuals, home construction financing, and renewal/refinancing options under the Masken program.
• Islamic Auto Financing (Tamouil Sayaret Al Wifak) Vehicle financing following Islamic leasing/Mourabaha principles for the purchase of new or used cars.
• Islamic Lifestyle and Education Financing (Tashil Omra, Tashil Asfar, Tashil Dirassa, Tamouil Hajiet Al Wifak) Sharia-compliant installment financing for Umrah (lesser pilgrimage), tourism/travel, education expenses, and Hajj (pilgrimage) costs.
• Islamic Corporate Financing and Ijara Leasing (Mourabaha Participatif, Mourabaha Photovoltaïque, Ijara Akkarat, Ijara BTP, Ijara Tajhizat Mehania, Ijara Tajhizat Technologia, Ijara Tajhizat Tebbia, Ijara Matériel Roulant Lourd, Ijara Nakel, Ijara Photovoltaïque) Sharia-compliant corporate financing and leasing solutions covering participatory Mourabaha trade financing, solar/photovoltaic financing, and Ijara leasing for industrial equipment, technology equipment, medical equipment, construction, heavy vehicles, transportation vehicles, real estate, and solar systems.
• Islamic Sector-Specific Trade and Industrial Financing (Tamouil Makhzoun, Tamouil Makhzoun Mouwajah, Tamouil Pharmacien, Tamouil Mahsoul, Tamouil Waridet, Tamouil Sadirat Ma Kabla Ach-Chahn, Tamouil Safakat Achghal Wa Khadamet, Tamouil Sadirat Wakala, Tamouil Akarat Mehania, Tamouil Binaet Mehania, Tamouil Tajhizat Mehania, Tamouil Arabet Nakel, Tamouil Istithmarat Akaria) Sharia-compliant financing tailored to specific industries including warehouse financing, pharmacy financing, wholesale goods financing, agricultural financing, livestock and wool trade financing, industrial real estate and construction financing, industrial equipment financing, transportation/logistics equipment, and real estate investment financing.
• Wifak Debit Card Portfolio (Carte Wifak Classic, Carte Wifak Gold Nationale, Carte Wifak Platinum Nationale, Carte Wifak Platinum Internationale, Carte Wifak Platinum Internationale AVA, Carte Gold Nationale, Carte Asfar) Tiered debit and prepaid card portfolio spanning Classic, Gold and Platinum national and international variants, including tourist allocation (Carte Asfar) and premium AVA international cards.
• Sharia-Compliant Card Range (Carte Wifak Rassidi+ Tashil, Carte Wifak Rassidi+ Familia, Carte Wifak Rassidi+ Pro, Carte Iddikhari, Carte Wifak Technologique) Islamic banking cards under the Rassidi+ brand (installments, family, professional variants), Iddikhari savings cards, and Carte Wifak Technologique for technology/startup customers with limits up to 100,000 TND for labeled startups and 500 TND / 1,500 TND for salary card variants.
• Business Cards (Carte Wifak Business Exécutive, Carte Wifak Business Exécutive Internationale) Business-oriented debit cards for executives and professionals, including an international variant for global acceptance and business travel benefits.
• WIFAKNET Online Banking Web-based remote banking service for individuals and enterprises, offering account management, balance consultation, intra-bank and inter-bank transfers, card management, checkbook ordering, and access to currency exchange rates.
• Wifak Mobile Banking App Mobile banking application enabling customers to consult accounts and conduct banking operations from smartphones.
• WIFAK Pay and WIFAK Pay PRO QR-Code Payments QR-code-based consumer payment service (WIFAK Pay) and merchant acceptance service (WIFAK Pay PRO) enabling contactless payments via mobile phones without requiring physical payment terminals, available via dedicated Android and iOS apps.
• TPE Electronic Payment Terminal Service Point-of-sale electronic payment terminal service for merchants, supporting card payments via chip and NFC, merchant cash management, and transaction tracking.
• WIFAK SMS Notification Service SMS notification service providing customers real-time alerts on account operations including weekly balance updates, card availability, withdrawals, payments, and transfers.
• TradeNet Foreign Trade Services Electronic exchange network for foreign trade operations including document exchange, customs clearance, and international transaction processing, supporting letters of credit, documentary collections, wire transfers, and foreign currency accounts for importers and exporters.
• Accessible Next-Generation ATM Service ATMs specially adapted for visually impaired customers, available 24/7, deployed at new Wifak Bank branches to support financial inclusion.
• WIFAK SICAR Venture Capital Financing Venture capital and investment financing for certified startups delivered through Wifak Bank's wholly-owned subsidiary WIFAK SICAR.

Quantifiable outcome

• Investment Grade rating upgrade from BB (tun) to BBB-(tun)
• +1 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Fitch RatingscoreOthers · 16 March 2026International credit rating agency that upgraded Wifak International Bank's long-term national rating from BB (tun) to BBB-(tun), granting Investment Grade status and validating the bank's strategic trajectory of financial strengthening and Islamic finance differentiation.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Amen Bank: Tunisian universal bank serving retail, professional, and corporate clients with a national branch network. Comparable on distribution model and customer-segment coverage within the Tunisian market.
• Banque Internationale Arabe de Tunisie (BIAT): Largest private-sector Tunisian bank with a broad retail, corporate, and increasingly Islamic product offering. Sets the competitive benchmark for distribution scale, funding cost, and product breadth that Wifak is measured against.
• Attijari Bank Tunisia: Major Tunisian universal bank with a wide branch network and growing Islamic window. Comparable for its multi-segment retail and corporate banking focus within the same Tunisian regulatory context.
• Banque de l'Habitat (BH): State-linked Tunisian bank with strong retail and housing finance presence. Comparable on retail deposit-gathering and home financing, including Sharia-compatible alternatives like Mourabaha and Ijara.

Others

• Tunisie Valeurs: Tunisian brokerage and asset-management firm. Indirect comparator as a Tunisian capital-markets intermediary and ecosystem participant relevant to Wifak's investment and treasury activities.

Direct peers

• Al Baraka Bank Tunisia: Tunisian subsidiary of the Al Baraka Banking Group, providing Islamic banking products including Murabaha, Ijara, and Musharaka. Directly comparable as a Tunisia-focused Sharia-compliant bank with cross-border parent support.
• Arab Tunisian Bank (ATB): Tunisian bank with a significant Islamic finance presence and ATB Siraj asset-management arm. Comparable for its mix of conventional and Sharia-compliant offerings and Tunisian retail/professional targeting.
• Banque Zitouna: Tunisian Islamic bank offering Sharia-compliant retail, professional, and corporate banking. Most direct comparable in terms of Islamic-finance-only positioning, customer segments, and Tunisian regulatory environment.

Regional players

• Bank Assafa (Morocco): Moroccan Islamic banking subsidiary of BMCE (now Bank of Africa). Comparable as a North African Islamic-only retail and SME bank facing similar regulatory, deposit-pricing, and Murabaha/Ijara-driven dynamics.
• Al Baraka Bank Maghreb (Morocco): Moroccan Islamic bank offering Sharia-compliant retail, corporate, and trade finance. Comparable on Islamic product mix, Sharia governance, and Maghreb-region market dynamics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCvCVLAzwatCnrR9FwUaXj7A
• Facebookfacebook.com/wifakbank
• LinkedInlinkedin.com/company/wifak-international-bank
• Instagraminstagram.com/wifakbank
• Xx.com/WifakBank

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wifak International Bank