Exim Bank(Tanzania) Ltd in Djibouti

(Horntrade) – The Head of State, Mr. Ismail Omar Guelleh, today presided over the inaugural ceremony of the subsidiary of the Exim Bank in Djibouti, in the presence of the First Lady, Kadra Mahamoud, the Prime Minister Dileita Mohamed Dileita, and members of the government.

In addition to the Chairman of the Board of Directors of the Exim Bank Djibouti, the economic and financial players in the country, as well as ambassadors and representatives of the diplomatic corps and international organizations also took part in this event.

The Governor of the Central Bank of Djibouti (BCD), Mr. Djama Mahamoud Haid a, in a major speech he gave on that occasion, said that “the arrival of the subsidiary of the EXIM Bank will contribute positively to Djibouti to strengthen the vocation of our country’s financial hub, and will consolidate the regional integration of our economy in the subregion. ”

“It is also a mark of confidence in the stability and fate of the Republic of Djibouti,” he said before pointing out that the EXIM Bank Djibouti plans to “develop innovative products such as payment by cards and modern services funding specifically for female clients, a first in Djibouti. ”

“Established in Tanzania since August 1997, the EXIM Bank prides itself in recent years notable performances in terms of growth in customer deposits (24.3% in 2010 compared to 2009),” also stressed the Governor of the BCD.

According to him, “the total assets of the financial institution, which opened its first foreign subsidiary in 2007, rose 21.6% in one year.”

The Governor of the Central Bank of Djibouti said that “the year 2011 was a pivotal year for the banking industry with the adoption of new regulations for conventional financial institutions, Islamic banks but also to micro-finance institutions. ”

He said that to preserve the stability and soundness of the financial sector, monetary authorities have conducted throughout the year for major reforms to guard against any new banking crisis, as our country has experienced in the 1990s .

Mr. Djama Mahamoud Haid, expressing the determination of the BCD to “boost momentum in the financial sector to remove the many obstacles and constraints,”  and called financial operators to “introduce innovations to support young entrepreneurs and to support the commendable efforts of the Government to develop a modern private sector, dynamic and create jobs.”

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