Three Tunisian banks to begin merger

The first executive measures of the first merger of three Tunisian banks are to begin today.

The three banks are the Tunisian Company for Banks, the Economic Development Bank, and the Bank of Tourist Development which are affiliated to the public sector.

This merger comes amid the plan drafted by Tunisian President Zein al-Abidin Bin Ali to privatize governmental corporations in various fields.

Tunisian economic sources told ArabicNews.com that there are new mergers planned in the future, the first between the International Union for Banks of Tunis and Emirate for Development, the second between the Agricultural Bank, Tunis Bank, Kuwaiti Development Bank and the South Bank.