Tunisia: New bank for the regions launched in 2016

Aug 12, 2015

It is expected to boost development financing in inland areas.

A bank for the regions will be created next year in Tunisia, chair of Nidaa Tounes parliamentary group at the House of People's Representatives (HPR) Mohamed Fadhel Ben Omrane has announced.

He told TAP news agency that the aim of this institution will be to boost development financing in priority inland areas.

The bank will be created following a restructuring of several public banking sector institutions, including the Bank for small and medium-sized enterprises (BFPME) and Capital risk investment companies (SICAR). Its capital will stand at one billion dinars (€462 million).

In May, Tunisian businessman Fakher Fakhfakh also announced the creation of a new bank in Tunisia next year.

This institution, named Africa Maghreb Bank, will be based in Tunis and will focus on African markets.

It will own a capital of $312 million (€273 million), including $208 million from Chinese, French, Swiss and Russian investors, and the rest will be raised from Tunisian investors.

It aims to develop cooperation and partnerships with major banking groups operating in Africa, supporting Tunisian exporters and the country's industry across African markets.ADNFCR-2976-ID-801797283-ADNFCR