The Maghreb, a Matter of Will

As the Maghreb Bank for Investment and Foreign Trade (BMICE) is preparing to launch its first operations in the next few weeks, I would like to sincerely pay tribute to the founders of the Arab Maghreb Union who have very quickly understood the need for an instrument of economic integration that transcends the differences of the 5 Member States : Libya, Tunisia, Algeria, Morocco and Mauritania.

It is true that the process of its creation took time, often provoking debates on the inertia to the project, but the leaders of the Maghreb countries: Libya, Tunisia, Algeria, Morocco and Mauritania, anxious to mark the path of the creation of an integrated Maghreb economic area, expressed their determination to concretize the launch of the bank through their decision to release the first installment of the paid-in capital and the designation of its governance structures.

In this context, I had the honor to be appointed in December 2015 as President of the first BMICE Board of Directors, which has 10 members representing equally the 5 founding countries. Our board uses its decision-making and control powers by approving the bank's general policies, its operational strategy as well as its financing operations.

Since the creation of the Bank, the Board has endeavored to accelerate the implementation of all the Bank’s structures, the drafting of its statutes, its internal procedures and its operating budget, as well as the recruitment of its staff. All the files prepared upstream by the General Management of the Bank and its teams have been treated with speed and rigor, to ensure the effective start of the Bank's activities, in accordance with the schedule initially set by the General Assembly which represents the highest governance body.

In addition, our Board has ensured that BMICE, alike other renowned finance and development institutions, has world-class governance and Maghrebian skills drawn from the largest local and foreign institutions. In coordination with the General Management, BMICE staff was not complacent when recruiting.

The three fundamental values of transparency, professionalism and proactivity, are as necessary as the BMICE aims, at the end of its five-year plan, to obtain a comfortable rating. We have already received a firm commitment that the Bank's shareholders intend to release 100% of the subscribed capital by 2020, which inspires satisfaction and confidence placed in a very young institution that plays a force of proposal role vis-à- vis the Maghreb governments.

With its headquarters in Tunis, BMICE would not have experienced these positive developments in its implementation process without the goodwill of the Tunisian authorities who continue to support the Bank in its efforts to set up and launch its activities. The inauguration of the Bank's Headquarters by the Tunisian Head of Government last May was a strong badge of support and endorsement.

For our part, I and the Board Council members, in coordination with the management of the bank, will spare no effort to get a good start to our young institution to make a cornerstone of the noble work of the building of a coherent, competitive and prosperous Maghreb Economic Area.

May the website that you are browsing be a forum for all the energies with a focus on setting up this much-desired space to gradually become a living reality, thanks to the will of all maghreb citizens.