Latest news with #BCT
African Manager
7 days ago
- Business
- African Manager
Tunisia: IACE launches survey on draft of foreign exchange code
Tunisian economic actors to gather their opinions and recommendations on the draft of the new foreign exchange code, which remains pending adoption despite repeated promises from successive governments. This initiative is part of the ongoing dialogue surrounding this draft, which was developed under previous governments but never finalized. The survey aims to assess the difficulties faced by businesses under the current regulations and to propose improvements to the new text, in coordination with the Ministry of Finance and the Central Bank of Tunisia (BCT). It also seeks to preserve the gains of the existing code while introducing more flexible mechanisms, in line with the demands of the business community. The last government meeting on this project dates back to February 26, 2024, under former Prime Minister Ahmed Hachani. Since then, businesses and professional organizations have been calling for a reform of the code to adapt it to the developments of local and international financial markets, notably through the introduction of modern financial services. The survey, made up of about 25 questions, focuses on the obstacles presented by the current foreign exchange code, whose first version dates back to the 1970s and has only undergone partial amendments since.
Zawya
31-07-2025
- Business
- Zawya
Tunisia: BCT Executive Board keeps key interest rate at 7.5%
Tunis - The Executive Board of the Central Bank of Tunisia, meeting on Wednesday, decided to keep its key interest rate at 7.50%. Indeed, the Board reviewed the recent evolution of the economic and financial situation both internationally and nationally, as well as the evolution of inflation, which, despite the recent easing, still remains at a level above 5%, according to a press release published by the BCT. According to the BCT, the international environment continues to face unprecedented financial and economic risks, driven by trade and geopolitical tensions. These tensions will continue to weigh on the growth prospects of major economies and will exacerbate uncertainty regarding the evolution of international prices of basic commodities and inflation. The room for maneuver of central banks to continue monetary easing has recently narrowed considerably, giving way to caution regarding interest rate adjustments. At the national level, the BCT stressed that 'the available short-term indicators suggest a gradual recovery of growth after a slight slowdown during the first quarter of 2025. This strengthening should be supported by the recovery of activity in key export-oriented industries and the dynamism of domestic demand. In fact, import flows remained on a sustained upward trend during the second quarter of 2025, particularly imports of raw materials and semi-finished products.' In terms of the external sector, the trade deficit (FOB-CIF) stood at 9,900 million dinars at the end of the first half of 2025, compared to 8,017 million dinars a year earlier, resulting in a widening of the current account deficit, which reached 3,399 million dinars (or 1.9% of GDP) by the end of June 2025, compared to 1,964 million dinars (or 1.2% of GDP) a year earlier. The widening of the current account deficit was relatively mitigated by the solid performance of workers' remittances and tourism revenues. Net foreign exchange reserves continue to show resilience. They stood at 23.2 billion dinars (or 101 days of imports) as of July 29, 2025, compared to 24.4 billion a year earlier. For its part, the exchange rate of the Dinar continues to perform well against the main foreign currencies, which should support the easing of inflation. With regard to consumer prices, 'the easing of tensions stemming from external factors affecting price formation, combined with the transmission of previous monetary policy actions, has supported the continuation of the gradual disinflation process during the first half of 2025.' The inflation rate stabilised at 5.4% in June 2025, compared to 6.2% at the end of 2024. This easing was particularly marked in the core inflation measure, excluding fresh food prices and regulated prices, which stood at 4.7% in May–June 2025, compared to 5.2% in December 2024. The slowdown in the inflation of administered products continued, against a backdrop of maintained price freezes for most items, with the rate evolving to 1.5% in June 2025 compared to 3.8% at the end of 2024. Conversely, limited supply conditions continued to fuel pressures on the inflation of fresh food products, which remained high at 13.6% in June 2025 compared to 12.6% at the end of 2024 and a historical average of 5%. The BCT considers that recent forecasts point to a continued gradual downward trend in inflation during the second half of 2025, with an average rate of 5.3% for the whole year, compared to 7% in 2024. However, stronger and more persistent inflationary pressures than expected, resulting from the evolution of international prices of key basic commodities and raw materials, could drive inflation upward. The Board considers that the upward risks weighing on the inflation trajectory remain active and that it is necessary to continue supporting the ongoing disinflation process and to bring inflation back to its long-term average. © Tap 2025 Provided by SyndiGate Media Inc. (
African Manager
23-07-2025
- Business
- African Manager
BCT Governor advocates for launching 'Diaspora Bonds'
Governor of the Central Bank of Tunisia (BCT), Fethi Zouhair Nouri, stated that a significant untapped potential lies within the Tunisian diaspora, which remains one of the most decisive and virtuous economic actors, despite recorded progress. Speaking at the second edition of the Tunisia Global Forum (TGF), organized on Tuesday by the Association of Tunisians from Grandes Écoles (ATUGE), Nouri noted that the diaspora represents a human capital that should be transformed into a financial asset to fund sustainable development. He emphasized the need to reorient strategy toward effectively integrating the diaspora into the national development process. He advocated for including the diaspora in economic policymaking by supporting existing associative networks and professional organizations, as well as improving access to transparent and centralized information. The BCT Governor stressed the necessity of offering innovative investment tools tailored to the diaspora's needs and expectations, drawing on international best practices. In this context, he mentioned the introduction of diaspora bonds, the funds from which would finance local businesses and infrastructure projects. He also cited, as an example, the launch of new savings products specifically designed for the diaspora. Nouri added that the BCT is committed to modernizing its services and improving communication, announcing the upcoming launch of a digital platform called 'EXOP' to enable online submission, processing, and tracking of requests addressed to the Central Bank. He further noted that a new version of the **foreign currency investment platform for non-residents in Tunisia, hosted on the BCT's website ( will soon be operational. 30% of foreign currency comes from expatriates The BCT Governor also recalled that the diaspora, comprising around 1.8 million citizens, primarily residing in Europe and Gulf countries, remains one of the main sources of foreign currency for Tunisia's economy. He added that, by the end of 2024, remittances from Tunisians abroad accounted for 30% of the BCT's foreign exchange reserves, equivalent to about 6.5% of GDP. These flows even have a stabilizing effect at the macroeconomic level, he noted. The Tunisian expatriate community also contributes to boosting domestic consumption, supporting economic growth, directly contributing 2% of state tax revenues and strengthening the local economy through investments, particularly in real estate. Challenges facing the Diaspora For his part, ATUGE President Amine Aloulou highlighted the obstacles the Tunisian diaspora faces in terms of investment, stressing their disconnection from the country. He affirmed that the forum and regional tours would help develop local networks and engage economic and administrative stakeholders. He added that the business environment, administrative and banking services, and air transport are key areas needing improvement to attract investors and foster the country's economic openness.
Malaysian Reserve
16-07-2025
- Business
- Malaysian Reserve
POTOMAC BANCSHARES, INC. DECLARES QUARTERLY CASH DIVIDEND
CHARLES TOWN, July 16, 2025 /PRNewswire/ — The Board of Directors of Potomac Bancshares, Inc. (the 'Company') (OTCID:PTBS), the holding company for Bank of Charles Town (BCT), also known as The Community's Bank, declared at their July Board meeting a quarterly cash dividend of $0.13 per share. The dividend is for all shareholders of record on July 31, 2025, and will be paid on August 7, 2025. About the Company Founded in 1871, BCT – Bank of Charles Town, also known as The Community's Bank, is a wholly owned subsidiary of Potomac Bancshares, Inc. (OTC:PTBS). With approximately $896 million in assets as of March 31, 2025, the Company conducts operations through its main office, an additional eight branch offices, and two loan production offices. BCT's offices are located in Jefferson and Berkeley Counties (WV), Washington County (MD), and Loudoun and Stafford Counties (VA). The Bank offers commercial lines and term loans, residential and commercial construction loans, commercial real estate loans, agricultural loans, and government contractor loans. The Bank is also a Small Business Administration (SBA) Preferred Lender. The Residential Lending division offers secondary market and portfolio mortgage loans, one-time close construction to perm loans, as well as home equity loans and lines of credit. For over 70 years, BCT Wealth Advisors has provided caring and personalized trust services, growing into a premier financial management, investment strategies, and estate services provider. The Bank also provides convenient online and mobile banking for individuals, businesses, and local governments plus free access to over 55,000 ATMs through the Allpoint® network plus another approximately 675 free access ATMs through another partnership. BCT was voted WINNER in the LoudounNow 2024 Loudoun's Favorite readers' poll in four categories: Bank, Mortgage Company, Banker, and Financial Planner. BCT was voted a 'Best of the Best' winner in the 2024 Martinsburg Journal-News Readers' Choice Awards in three categories: Bank, Loan Services, and Financial Planning. In 2023, American Banker selected BCT as a 'Top 200 Community Bank,' an annual listing of the best performing banks in the United States with assets under $2 billion. Since 2019, the Bank has been named a 'Best Banks To Work For' by American Banker five times. The Company's shares are quoted on the OTCID marketplace under the symbol 'PTBS.' Individuals may purchase shares under the symbol 'PTBS' by contacting Shane Bell, EVP and CFO, at [email protected], or through one's personal broker. For more information about Potomac Bancshares, Inc., and the Bank, please visit our website at
Yahoo
09-07-2025
- General
- Yahoo
Battle Creek bus riders: Expect detours on part of Michigan Avenue this week
A temporary road closure will affect a section of Michigan Avenue in downtown Battle Creek on Thursday, July 10, and Friday, July 11. According to a community announcement, the closure is necessary for contractor work involving a crane that will place new rooftop units onto the W.K. Kellogg Foundation at 1 E. Michigan Ave. The impacted area includes East Michigan Avenue from Capital Avenue SW to Division Street North. Residents are encouraged to detour around this area during work hours and remain alert for crews and equipment. Battle Creek Transit's 3E — Main/Post bus will also detour during this closure. Inbound, the bus will turn left on Hamblin Avenue to reach the Transfer Center. This detour means the following bus stops will not be serviced: Michigan Avenue at Division Street, Michigan Avenue near the W.K. Kellogg Foundation, and Capital Avenue NE near Jackson Street. BCT riders can use bus stops on Main Street at Pittee Street or Hamblin Avenue near Monroe Street. Neighbors needing assistance with trip planning can call BCT at 269-966-3474 for help from the Mobility Manager or dispatch team. This story was created by Janis Reeser, jreeser@ with the assistance of Artificial Intelligence (AI). Journalists were involved in every step of the information gathering, review, editing and publishing process. Learn more at We want your news: How to submit community announcements This article originally appeared on Battle Creek Enquirer: Downtown Battle Creek street closures crane work on Michigan Avenue
