Chinguitty Bank was established in the Islamic Republic of Mauritania under the agreement signed on June 20, 1972, as part of a partnership between two sister Arab countries, the Islamic Republic of Mauritania and Libya.

Its shareholders are:

• Islamic Republic of Mauritania which is a main shareholder holding 34% of the capital. It is represented by the Ministry of Finance.
• Libyan State, represented by Libyan Foreign Bank, holding 66% of the capital.

Libyan Foreign Bank was established in 1972 with a capital of USD 27,500,000.00 –  100% owned by the Central Bank of Libya.