BCT examines guidelines for banks to use Islamic finance | Tunisia News Gazette

BCT examines guidelines for banks to use Islamic finance

The Board of Directors of the Central Bank of Tunisia (BCT), meeting Friday, discussed “the guidelines and choices it plans to adopt soon, to allow banks and financial institutions to use the products of Islamic finance, simultaneously with conventional finance, with a view to further diversifying the offer of banking services and strengthening means of financing the economy “.

The Board has also decided to maintain the key interest rate of the BCT unchanged, and has, at the same time, deliberated on the bond issue that the Bank intends to launch on the international financial market, in the near future, to the tune of one billion dollars, in the context of the mobilisation of external resources for the benefit of the state budget.

According to a statement issued by the BCT, the Board reviewed recent developments in the national economic situation, in light of the Bank’s reports and data, on the main indicators of economic activity, transactions on the monetary and exchange markets, as well as the liquidity situation and the activity of the banking sector.

In this connection, the Council has examined the level of foreign exchange holdings, given the persistence of pressure on external payments, despite the beginnings of the recovery at the beginning of the year in certain export sectors, which is the efforts to support the external sector, including export support and streamlining of foreign exchange expenditures.

The Board also approved the financial statements of the bank for the 2017 financial year, in accordance with the provisions of the Law establishing the status of the BCT.

Source: TAP news Agency

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