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Tunisia: BCT, CenBank of Beijing sign Memorandum of Understanding and Cooperation

The Central Bank of Tunisia (BCT) and the Central Bank of Beijing signed a memorandum of understanding and cooperation, on Monday, fostering greater openness in both banking and financial sectors.

The two central banks have agreed on the principle of signing an agreement for the exchange of the Yuan and the Tunisian dinar to pay part of the commercial and financial transactions in national currency.

“This will alleviate the exchange risks for both parties and encourage the Chinese to import from the Tunisian market,” the BCT said in a statement issued on Tuesday.

BCT Governor, Chedly Ayari, and his Chinese counterpart, Zhou Xiaochuan, who signed the Memorandum of Understanding and Cooperation in Beijing, discussed the possibility of issuing a bond on the Chinese financial market, “which will enable the mobilization of funds for the financing of economic development projects in Tunisia”.

Chedly Ayari traveled to China, heading a delegation of finance and banking officials, including chairman of the Financial Market Council (CMF), Saleh Saiel, CEO of the Caisse des dépôts et des consignations (CDC), Boutheina Ben Yaghlane and President of the Tunisian Association of Banks and Financial Institutions, Ahmed Karam.

The president of the CMF has agreed with his Chinese counterpart on the signing of a memorandum of understanding and cooperation between Tunisia and China encouraging

the exchange of experience and expertise and for a close collaboration between the exchange markets in both countries.

During the visit, which will run until Wednesday, December 14, 2016, meetings are scheduled with officials from Chinese financial institutions, including the China Banking Regulatory Commission, the Chinese Banks’ Association, the China-Africa Development Fund, the China-Africa cooperation fund and also Chinese commercial banks.


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