MoU inked to develop cooperation between BCT and National Bank of Ukraine (NBU)
06/09/2019 19:16, TUNIS/Tunisia

(TAP) - A memorandum of understanding to develop a framework for cooperation and knowledge exchange between the Central Bank of Tunisia (BCT) and the National Bank of Ukraine (NBU) was signed on Thursday, September 5, 2019 in Kyev.

This agreement, which targets the various areas, including monetary policy, exchange regulations and communication, was jointly signed by BCT Governor Marouane El Abassi and NBU Governor, Yakiv Smolii, according to a BCT press release issued Friday in Tunis.

This Memorandum of Understanding strengthens closer strategic cooperation between the two institutions and will also facilitate the mutual sharing of expertise and skills through the organisation of various working visits, technical consultations, training, seminars, workshops and research activities.

NBU Governor Yakiv Smolii said that "over the past five years, the NBU has grown considerably to become a powerful and independent institution with deep expertise and innovative approaches to the traditional central bank".

"This is recognised by the international community of central bankers, among others. I hope that our cooperation and willingness to share our achievements will contribute to the development of a modern Central Bank of Tunisia," he said.

For his part, El Abassi, stressed the importance of this memorandum of understanding "which allows the BCT to collaborate with institutions that initiate best practices. This is in line with the BCT's strategic vision of being a modern, proactive and efficient Central Bank at the forefront of economic and financial transformations.

"We share similarities with the NBU, particularly in the management of political and economic transition phases. The monetary policy, communication and transformation components are among the strategic projects on which the NBU's experience will make a definite contribution to the BCT," he concluded.

The memorandum, which entered into force after signature by the Governors, will help to strengthen and formalise the strategic relationship between the two institutions.

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