Thursday, February 17, 2011

Ben Ali and his family received EUR 1,300 million Tunisian banks

The Tunisian banking sector financing to companies in the clan of deposed President Ben Ali and her family reached 2,500 million dinars (about 1,300 million euros), as reported Wednesday the central bank governor of Tunisia, Mustapha Kamel Nabli. In a press conference in the Tunisian capital, Nabli has stated that, of that amount, 430 million dinars (224 million) was granted without guarantee of repayment.

According to the governor, the Tunisian banking sector funded 182 companies of the family and especially Ben Ali in Tunisia known as "Clan of Trabelsi ', composed of relatives of his wife Leila Trabelsi. The 2,500 million dinars received by them, both private and public banks, representing 5% of total financing by the banking sector, he explained.

Nabli said that 71% of the funding for the presidential family is recoverable, as there were guarantees "but the remaining 430 million" are credit risk there are no guarantees to recover. " The governor explained that 1,300 million dinars were provided to implement four projects in the family, two of them related to mobile phone companies that the Materi and Maruan Sakher Mabruk, sons of Ben Ali, were the main shareholders.

Another such project was the company Cementos de Cartago, owned by Belhasan Trabelsi, brother of the wife of former president, who also owned several hotels including one luxury in the capital's suburb of La Marsa. The 'Clan of Trabelsi' was particularly hated by the Tunisians, who accused him of seizing for decades shamelessly much of the country's wealth.

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