Tunisia: Zitouna achieves 56% jump in profits in 2020 despite COVID-19
Source: Middle East Insurance Review | Jun 2021
Zitouna Takaful has generated more than TND5m in profits ($1.85m) in 2020, compared to TND3.5m in the preceding year. In 2020, wakala commissions amounted to TND14.8m (2019: TND13m), while mudharaba commissions stood at TND1.7m (2019: TND1.2m).
Investment income stood at TND1.38m last year (2019: TND1.05m), and general operating expenses reached TND11.3m (2019: TND10.4m).
Zitouna was established in 2011 as the country’s first takaful operator. There are currently two other takaful operators in the market. M