List News    News

BCT Governor announces creation of fund to collect donations

Published the:  16/02/2011

| Share

February 16, 2011 - TAP - Governor of the Central Bank of Tunisia (BCT) Mustapha Kamel Nabli announced, on Wednesday in Tunis, the creation of an independent fund to collect donations from Tunisian and foreign sides that have expressed their desire to provide financial support to post-revolution Tunisia.
Resources of the fund, which seeks to contribute to the social and economic process in the country, will be placed in an open account of the BCT, Mr. Nabli said.
He added that the legislative framework governing the activity of this structure, decided by the Interim Government, is being prepared, specifying that emphasis will particularly be placed on ensuring efficiency of the interventions and transparency of the management of its resources.
The aim assigned to this fund is to collect financial resources to use them in social and economic projects of general interest.
The projects will be achieved through direct interventions of the fund or through associations as well as other non-profit legal entities.
Resources of the fund will come from donations and other forms of financial assistance granted by moral or physical entities, said BCT Governor, adding that this structure could launch calls for public donations through the media and according to conditions defined beforehand.
The BCT will be tasked with providing necessary logistical support (offices, human resources...) to reduce the fund's expenditures resulting from interventions and tasks assigned to it, particularly operation expenses.
Mr. Nabli stressed the legal independence of the fund, underlining that it does not belong to any administrative party or category of companies and funds known in Tunisia.
A management commission composed, in particular, of members of components of the civil society, who will not receive financial compensation, will be responsible for the management of the fund's resources.
To ensure transparency of management, the fund's accounts will be subject to external audit to be conducted by auditors.
The fund should also provide continuous information to the public on the website about its accounts and activity reports and also submit a relevant report to auditors