Tunisia- Kais Sied calls for banking mobilization for economic development

President Kais Saied welcomed Neji Ghandri, president of the Banking and Financial Council (CBF), formerly known as the Tunisian Professional Association of Banks and Financial Establishments, to examine the vital involvement of financial institutions in strengthening the Tunisian economy.

National Economic Support: A Call to Action

The president insisted on the necessity for banks, whether public or private, as well as other financial institutions, to actively contribute to supporting the national economy, based on the strategic chances of the Tunisian people rather than on foreign influences.

Particular attention was given to delivering soft loans for community company entrepreneurs, emphasising the significance of financial accessibility for small projects with a societal impact.

Criticism of Unjustified Bank Fees

President Saied criticized the practices of some banks of inflicting unjustified banking fees, underlining the imbalance of power in loan contracts to the detriment of customers.

Reform of the Legal Framework

The necessity to adjust Article 411 of the Commercial Code was discussed, with the purpose of banks assuming part of the responsibility for commercial failures, thus aligning with international standards.

Banks’ Commitment to National Development

The president urged banks to go beyond funding public companies and institutions to partake directly in large-scale national projects, recalling the importance of everyone’s commitment to the fighting for Tunisia’s economic independence.

This meeting symbolizes Tunisia’s continued effort to rally all the country’s vital forces in supporting its economy, by inviting the banking sector to play a leading role in this national challenge.

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