Banks and financial institutions should be more closely involved in supporting national economy (President Saied)

The private and public banks and financial institutions should be more closely involved in supporting the national economy, President of the Republic Kais Saied and Chairman of the Banking and Finance Council (CBF) Néji Ghandri discussed at a meeting on Monday. Such involvement should necessarily be based on the Tunisian people's choices and orientations, and not on the diktats of any foreign side, President Saïed pointed out. He urged in this regard, the banks to grant loans on favourable terms to citizens who take the initiative to set up communitarian companies. Besides, the Head of State called for the need to abolish the "unjustified" charges and commissions levied for certain banking services, decrying in this connection the exorbitant and excessive clauses included in a credit contract which make it a "form of commitment" that benefits the sole will of the banking institution. The President of the Republic further urged banks to contribute to the development effort not only through the loans they g rant to public establishments and companies in a bid to restore their financial balance, but rather by making a substantial contribution to the achievement of national projects. The country is waging a national liberation battle, he underlined, adding that the sacred duty dictates the involvement of all in order to ultimately meet the Tunisian people's demands. Furthermore, the President of the Republic discussed during the meeting the proposed amendment to article 411 of the Commercial Code on bounced cheques, calling on the banks to assume their share of responsibility in this matter, as is the rule in a number of comparative experiences. Source: Agence Tunis Afrique Presse