Tunisia Seeks to Upgrade Banking Sector
Tunisia is seeking to set a comprehensive scheme to support the banking sector and develop its services within the framework of activating the banking operations and enhancing development efforts, the Arabic daily Alkhabar Tunis said.
The paper said that efforts have currently been focused on supporting the financial foundation of banks and taking the precautionary measures for continuous follow-up of their positions.
According to the report, the flexibility in which the reforms were approached has resulted in improving the logistic environment.
An electronic settlement system monetary system in addition to the endorsement of a plan for improving the system of banking formation and development have been among the tolls used by the authorities, Akhbar Tunis said.
Informed sources told the paper that the second merger process was started through a meeting held between the board of directors and general assemblies of the concerned banks. The daily did not name the merging banks, but said the new bank is expected to commence its activities by the end of this month.
For his part, General Manager of Credits and Banks at the Tunisian Central Bank was quoted as reiterating that the merger process aims at providing practical solutions for the future of the development banks on one hand, and developing their size and modernizing the mechanism their operation on the other – Albawaba.com
- NCB Wins Award for Best Electronic Banking Services in the Kingdom
- Islamic Banking will Necessitate Reforms in Lebanon
- UAE’s Bank Profits Surge 30 percent in 2000
- Bahraini Banks Merge to Strengthen Operations
- Banks In Tunisia Display Resilience But The Economic Environment Is Creating New Risks, Says S&P