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Tunisia
Saied looks to liquidate BFT to sidestep ICSID arbitration

Tunisian president Kaïs Saïed. © John Thys/Pool/EPA/MaxPPP

The Tunisian president has set in motion the compulsory liquidation of the Banque franco-tunisienne (BFT), a bank that lies at the heart of drawn-out litigation with its former owner, ABCI Investments. After a mediation bid failed, the saga has gone back to arbitration. [...]

Published on 24/02/2022 at 06:00 GMT Reading time 3 minutes

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Finance, Business

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ABCI Investments
Ben Ali
BFT
Hamadi Jebali
ICSID
Imed Trabelsi
International Monetary Fund
Kais Saied
Majid Bouden
Marouane Abassi
Nadia Gamha
Slim Chiboub
World Bank
Youssef Chahed

Tunisia
ABCI points to irregularities in ICSID arbitration process with Tunis

In 2023, ABCI Investments was awarded only modest compensation for the 1989 expropriation of its Banque Franco-Tunisienne. But it is not giving up and is now questioning the conditions under which arbitrators are appointed.

Subscribers only Finance 22.11.2024

Tunisia
Tunis calls on legal consultant Éloïse Obadia in bid to ward off international arbitrations

In an effort to limit foreign investors' recourse to international arbitration, Tunis has enlisted the services of a former senior counsel to the International Centre for Settlement of Investment Disputes.

Subscribers only Business 09.07.2024

Tunisia
Infolink boss seeks partner

The boss of software development company Infolink Group is looking to sell off part of his business and is in talks with Capgemini.

Subscribers only Business 18.01.2024

Tunisia
The growing rift between Kaïs Saïed and the Tunisian Central Bank

As negotiations with the IMF over the highly criticised 2023 draft budget bill are coming to a close, BCT Governor Abassi and President Saïed's opinions continue to diverge.

Subscribers only Politics 21.12.2022

Tunisian President Kaïs Saïed and the Governor of the Tunisian Central Bank, Marouane Abassi.

Tunisia
Tunis defaults on legal costs to ICSID in BFT case

Tunisia has failed to make its final payment to the World Bank arbitration tribunal, which could result in it being ordered to pay several hundred million dollars in compensation to ABCI Investments. Proceedings are unlikely to be suspended.

Subscribers only Finance, Business 18.05.2022

In Focus | Tunisia
Saied rallies his base with 25 July Movement ahead of parliamentary election

Less than a year after the Tunisian parliament was suspended, President Kais Saied's supporters are hoping to win a majority in the house at the end of the year. To do so, they have been federating their numbers via the hundreds of local factions headed by a national entity.

Subscribers only Politics 02.05.2022

Tunisia
PwC inherits the ill-fated TFBank privatisation project from CAP Bank

The consulting firm PwC is to look for a strategic partner for TFBank, the Tunisian bank registered in Paris. This highly sensitive task was initially entrusted to CAP Bank.

Subscribers only Finance, Business 18.03.2022

Tunisia
MEP's Tunis trip postponed after Saïed's visit to Brussels

A delegation of European Parliament members had been due to visit Tunis shortly to meet Kaïs Saïed and Rached Ghannouchi but their trip has been put back indefinitely. This follows the tensions created by Saïed's participation in the EU-AU summit in Brussels on 17 and 18 February.

Subscribers only Diplomacy 23.02.2022

The Tunisian Head of State, Kaïs Saïed, speaking at the 6th Summit between the European Union and the African Union, on 18 February, in Brussels.

Tunisia
Paris sends its Treasury chief Emmanuel Moulin on special mission to Tunis

The French Treasury head has reiterated France's support for the reforms Tunis must undertake in order to secure IMF loans. Moulin also chairs the Paris Club of international creditors, and while he did not travel in that capacity, the restructuring of Tunisia's debt seems to be on the cards.

Subscribers only Diplomacy 02.02.2022

Emmanuel Moulin, head of the French Treasury and president of the Club de Paris.

Tunisia
IDB throws its weight behind Tunis's African exports drive

Tunisia is being shunned by most major international lenders, but it can still rely on the Islamic Development Bank, which continues to back projects in the country. The institution, whose largest single contributor is Saudi Arabia, intends to push trade development with the rest of the continent.

Subscribers only Finance, Business 31.01.2022

Tunisia
Kais Saied's lonely battle to recover Ben Ali clan's ill-gotten gains

With the legal deadlines to recover the hundreds of millions of euros misappropriated by the clan of the ex-president about to expire, President Kais Saied is being hindered by government departments and the speaker of parliament, the Islamist Rached Ghannouchi.

Subscribers only Politics 28.01.2021

Tunisia
ABCI and Tunis try ICSID mediation to settle 21-year battle over BFT

The World Bank's arbitration arm has suspended the Tunisian state v. ABCI Investments proceedings over BFT to give the parties a month to find an amicable settlement starting 19 October.

Subscribers only Business 23.10.2020

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ABCI Investments
Ben Ali
BFT
Hamadi Jebali
ICSID
Imed Trabelsi
International Monetary Fund
Kais Saied
Majid Bouden
Marouane Abassi
Nadia Gamha
Slim Chiboub
World Bank
Youssef Chahed

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