The FOREX Maghreb association was officially created on Thursday, during the annual congress of FOREX club Tunisia.
This new structure will work according to a clear roadmap while working to create the encrypted currency “dinar”, Forex Tunisia’s vice president, Hatem Zaara told reporters.
This currency could have North African dimensions and contribute to boosting growth in Tunisia and resolving some of the difficulties hindering North African cooperation such as customs and political obstacles, he said in a statement to the media.
Hatem Zaara stressed that Maghreb citizens aspire to benefit from the progress made in the field of electronic banking, particularly in banking transactions between the various countries.
Forex Tunisia vice president added that the International Monetary Fund (IMF) and international organisations are enhancing this initiative of creating Forex Maghreb, the first of its kind.
Governor of the Central Bank of Tunisia (BCT) Marouane Abassi said that the Tunisian initiative launched a year ago to reactivate relations between Maghreb banks.
In this connection, central bank governors in the region have begun to work on several areas, including understanding the technological development of the electronic payment sector, financial inclusion through new technologies and analyses of financial institutions.
Abassi said that from next year, a meeting of these governors will be held to set up a joint working strategy for the next period.
The BCT is currently studying ways of monitoring the various technological developments in the financial and monetary sectors while preserving the national currency and working to achieve electronic payment integration and develop the applications used.