Tunis, Tunisia, September 27, 2012—
IFC, a member of the World Bank Group, is helping Tunisia's Amen Bank strengthen its corporate governance and risk management practices, allowing the company to solidify its position as a market leader and expand its lending to smaller businesses.
IFC will advise Amen Bank at the board and management levels to ensure the company meets international best practices in corporate governance and risk management. This comes at a time when Tunisian banks are implementing new central bank regulations on corporate governance. The partnership is also designed to allow Amen Bank to expand lending to retail customers along with small and medium enterprises, helping Tunisian enterprises grow and create jobs.
“IFC's wealth of experience will help us in our continued efforts to expand and support businesses across the country,” said Ahmed El Karm, CEO of Amen Bank.
The company is Tunisia’s second-largest private bank and through its focus on commercial banking plays a key role in the economic growth of the country.
“The financial sector is instrumental in private sector development,” said Mouayed Makhlouf, IFC Director for the Middle East and North Africa. “By supporting lenders like Amen Bank, we can substantially upgrade the services to Tunisian businesses, helping promote economic growth.”
The new agreement is part of IFC's efforts in Tunisia to increase access to finance, a key pillar in creating jobs and strengthening the country’s economy.
About IFC
IFC, a member of the World Bank Group is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
.
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