19 October 2009
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Tunis — Tunisia has been considered as a model for the world's emerging economies, particularly, after its response to the global financial crisis. Tunisia has set up a strategy to cope with the international crisis.
As part of the nation's vision, steps have been taken to assist the national enterprises to preserve the growth of the Tunisian economy.
Even during the global economic crisis, Tunisia has managed to preserve its economy, maintain the growth and retain the lead among the North African countries, according to the World Economic Forum Report 2009/2010.
In his address at the launch of the electoral campaign, President Ben Ali focused on creating "a pole for banking services and a regional financial center" so as to boost financial services in Tunisia, underlined in chapter 12 of his electoral program.
One of the requirements of sustainable economic growth is the existence of a dynamic banking sector capable of financing development by making of Tunisia a regional hub for financial services, which will contribute to attracting foreign investments and ensuring the national economy's efficiency in its foreign environment, said President Ben Ali.
This can be realized through developing a charter for the quality of banking operations , aiming at achieving a higher quality of banking services and a dynamic banking system to the service of development.
In attempt to promote new banking occupations, President Ben Ali will increase the minimum capital of banks to at least 100 million dinars, reduce the unpaid debts rates from 15% in 2008 to less than 7% in 2014, as well as reach the ratio of one bank branch per 7,000 inhabitants by 2014.
He also wishes to increase the contribution of banking services to the GDP from 3% currently to 5% by the end of 2014.
These decisions will help enlarge the interventions of the Tunisian Solidarity Bank, by boosting the investment savings sector, which enables families to have the necessary self-funding, by ranting special loans to the bank clients or low-income wage-earners to install energy saving equipments.
Furthermore, the electoral program, in its chapter 12, outlooks in the next phase, the establishment of a public banking pole dubbed "Tunisia Holding", specialized in financing small and medium-sized businesses.
On the same line of thought, President Ben Ali asked to create "Tunisia External Bank", for the next five-year 2009/2014, which is a new banking company , with European standards open in major European capitals and European .
Among the other Presidential leading projects, is the full convertibility of the dinar by the end of 2014, considering that the financial operations related to the activity of Tunisian businesses with foreign countries will be liberalized.
This will help attract internationally-renowned banking institutions, and develop the international financial market , in transparency and sound management.
Tunisia has expended greater efforts to bolster its financial bases, demonstrate more transparency and strive to set up a financial sector capable of integrating in the external environment and protect itself against world financial crises.
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