Financial soundness of public banks: Gov't tables bill for reform monitoring committee | Tunisia News Gazette

Financial soundness of public banks: Gov’t tables bill for reform monitoring committee

The Prime Ministry recently tabled a draft law to the House of People’s Representatives (HPR) on increased financial soundness of public banks. The creation of an audit and administrative and structural reform monitoring committee was put forward.

The committee would include 12 members: 5 MPs, 3 representatives of the Finance Ministry, 2 representatives of the Audit Court and 2 representatives of the Central Bank of Tunisia (BCT).

The government brought forward this proposal as the plan to restructure La Societe Tunisienne de Banque (STB) and La Banque de l’habitat (BH) failed to attain the targets set, mainly reducing the volume of outstanding debts, despite the large amounts involved and their negative impact on accounting results. This restructuring plan (2016-2020) is essentially based on slashing the debt ratio.

The government proposed that payment policies are added to the tasks of the committee. This should be spelled out in a government decree.

The State injected about 757 MTD for the STB restructuring and recapitalisation programme and nearly 110 MTD for BH.

Source: TAP News Agency

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