A source of proposals for regional economic integration
Tunis, May 9, 2017- The Maghreb Bank for Investment and Foreign Trade (BMICE) has settled on May 9, 2017 in a 3 floors brand new building located in the Tunis residential area of Lac II. The tunisian capital has been chosen to host the Bank’s headquarters in accordance with the Articles of Agreement signed by the founding 5 member states of the Arab Maghreb Arab (UMA). The newly created Bank is charged to foster a real dynamic of economic regional integration.
The official inauguration ceremony was chaired by Mr Youssef Chahed, President of the tunisian cabinet government who gave a speech outlining the pride of his country to host the permanent headquarters of BMICE, and indicating that « it’s an evidence of solidarity of our respective peoples and maghrebian authorities who are working to strengthen relationship between the Maghreb countries ». Chahed added that despite the current tough economic situation in the region « Tunisia will make its utmost efforts to ensure the new Maghreb Bank’s success ».
Secretary General of the Arab Maghreb Union, Taïeb Baccouche, declared on his part that the launch of BMICE activities is the crowning glory of a long process that reinforces the Maghreb institutions network.
Algerian former Finance Minister and current BMICE board President, Mohamed Djelllab, considers « that member states conveyed a positive message by releasing since December 2015 the first installment of the paid-in capital, allowing the institution to quick off its operations »
The official opening of BMICE headquarters represents an important milestone towards maghreb countries integration, which will ultimately generate economic growth and job creation.
About BMICE
The Maghreb Bank for Investment and Foreign Trade (BMICE) is the new Maghreb bank created with the aim of strengthening the integration of the five countries of the Arab Maghreb Union (UMA).
Its creation is part of efforts to harness the potential and opportunities induced by the Maghreb economic integration in order to allow the countries of the region to benefit from alternative levers of economic growth, as well as the impact on their development.
The objective of the creation of the BMICE is to contribute to the building of a competitive and integrated Maghreb economy, through the development of intra-Maghreb investment and trade and by proposing solutions to the regulatory and institutional barriers.
PRESS Release N° : 2017/001/BMICE
Contact press
Tunis
- Taleb O. Sid’Ahmed MBareck, Advisor
- +216-99 333 151
- touldsidahmed@bmice-maghreb.org
- www.bmice-maghreb.org
