Highlights

The General Secretary of the Government submitted the Legal Framework of the Participative Banks to the ministerial departments : 09/06/2013

The General Secretary of the Government submitted the Legal Framework of the Participative Banks to the ministerial departments

The General Secretary of the Government submitted the Legal Framework of the Participative Banks to all government sectors for an immediate review, stated the Minister of Economy and Finance, Mr. Nizar Baraka."The Ministry of Economy and Finance submitted the Bill on Participative Banks to the General Secretary of the Government, which, published it on its Web portal to collect comments and forward it for review to the government sectors as quickly as possible", explained Mr. Baraka, in response to an oral question in the House of Representatives on the "delay in the issuance of the Participative Banks Act".

He added that the Participative Banks will contribute to the promotion and development of savings. He stressed that the setting up of these banks is part of the overall reform of the Banking Law.

The Minister recalled that this project was launched in 2012 in collaboration with Bank al Maghreb to review the Banking Act in order to prevent and manage financial crises, strengthen the supervision of credit institutions and encourage the implementation of Participative Banks.