Tunisia's parliament approve a new law granting greater autonomy to the Central Bank

Tunisia's parliament approve a new law granting greater autonomy to the Central Bank

Tunisian parliament approved late on Tuesday a new law that gives the central bank greater autonomy in an effort to enhance the performance of the bank and to distance him from any potential political bickering.

It comes the approval of the Central Bank Law within the reform package demanded by international lenders Tunisia.

Parliament approved the new law after four days of intense debate because of the objection of many deputies on the grounds that it enshrines the dependence on the International Monetary Fund.

But Finance Minister Salim Shakir said there was no justification for any fear of the law, which aims to develop and modernize the banking system in order to suit the global system.

After the 2011 uprising that toppled former President Zine El Abidine Ben Ali suffered a former Central Bank Governor Mustapha Kamel Nabli of the government's attempts to intervene in monetary policy, which was rejected by the former bank governor.

Subsequently, the sacked former President Moncef Marzouki in 2012 Nabli from office under the pretext of disagreement over the economic policy of the country at the time.

According to the new law will not be permissible for the government to issue any instructions of the Central Bank, but would have the right Prime Minister to form a committee to check if there are suspicions of corruption.

It will be the central bank's absolute authority in monetary policy and exchange policy and control the up and dispose of the gold-control.

He said a central bank official said the aim of the law is a response to modern governance and distancing the central bank from any potential political bickering or dictates to impose certain monetary policies.

A draft law was prepared in cooperation with the International Monetary Fund.

The new central bank law also establish a monitoring body and to act in a crisis shall make recommendations and to protect the national economy from the potential impacts that may result from any disturbances in the global economy.