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Financial Sector

Transitional Justice in Tunisia Expanded to Include Economic Crimes

Amine Ghali's picture
Also available in: العربية | Français
Tunis

More than three years after the wave of revolutions that swept some countries of the Arab region, it is now possible to step back and make an initial assessment of the subsequent transformation processes. While the picture seems bleak overall, the prospects for Tunisia’s democratic transition, at the very least, offers some cause for hope. Among the many features of the Tunisian transition, one of the most significant is the country’s commitment to a process of a transitional justice (TJ). The process took three years to materialize, and required a joint effort on the part of many actors, ranging from national organizations to the international community, along with politicians and legal professionals.

The Algeria That Wins

Emmanuel Noubissie Ngankam's picture
Also available in: العربية | Français


His achievements may have attracted less attention than the brilliant performance of the Fennecs (“desert foxes”)—the Algerian football team which made it into the round of sixteen at the World Cup in Brazil—but they deserve to be revisited nonetheless. His accomplishments are not included in the records’ book, nor can they be reduced to an act of revenge against France, Algeria’s former colonizer: they are about the kind of success that only globalization holds the key to. 

Growing the Green Capital Markets in Dubai

Michael Bennett's picture
Also available in: العربية | Français
 Theodore Scott
Source: Flickr Creative Commons

Recently, the Dubai Supreme Council of Energy (DSCE) and the World Bank agreed to design a funding strategy for a green investment program in Dubai that would look at financing green investments through a variety of sources, including green bonds and sukuk (Islamic certificates). 

Why Private Sector Development is Crucial for Morocco

Joumana Cobein's picture
Also available in: العربية | Français
 Arne Hoel

Like many economies in the Middle East and North Africa (MENA) region, Morocco’s depends on the public sector, but with its economy expected to grow by only about 3 percent in 2014—having slipped from about 5 percent in 2011—it is clear that the public sector needs all the help it can get. The best way to help the public sector is to grow the private sector, and the International Finance Corporation believes the best way to grow the private sector is to provide advisory services and comprehensive investment solutions to attract foreign money, help local businesses help themselves, and create those desperately needed jobs. 

Privatization: A Key to Solving Egypt’s Economic Woes

Karim Badr El-Din's picture
Also available in: Français | العربية
Cairo Street

In 1991, Egypt launched the Economic Reform and Structural Transformation Program (ERSAP) to address dire economic conditions. The difficult financial situation forced the government to reschedule its public debt twice, in 1987 and 1991. The Egyptian reform program moved at a slow pace until 2003, when the government pushed for further liberalization of the economy. The government began by floating the rate of exchange of the Egyptian pound in 2003, followed by the implementation of a series of policies aiming at shifting Egypt from a centrally planned to a free market economy.

Leveraging Financial Inclusion to Promote Economic Development in Egypt

Also available in: العربية | Français

Leveraging Financial Inclusion to Promote Economic Development in Egypt - Photo: Arne Hoel

Egyptian policymakers are facing a significant challenge: how to address acute economic challenges while managing ongoing political and social transitions. Output in major sectors of the economy (construction, trade, and tourism) remain weak while foreign direct investment (FDI), once a core tenant of Egyptian growth, reached nearly zero in the second quarter of this year. The Egyptian unemployment rate, which traditionally hovered around 9.5 percent in the years preceding the revolution, has increased to 13.2 percent in the first quarter of 2013.

Egypt: Subsidy reform and social safety nets are 2 sides of same coin

Guest Blogger's picture

Egypt: Subsidy reform and social safety nets are 2 sides of same coin - Photo: Emad Abd El Hady

Egyptian writer and commentator Bassem Sabry talks to Hartwig Schafer, World Bank Director for Djibouti, Egypt and Yemen about the economic challenges facing Cairo.

Sabry: What do you think are the questions that are missing from the discussion on Egypt right now?

Schafer: I think the question is, what is the priority right now for Egypt? If we go back two and a half years, the revolution was basically the result of growing exclusion and inequality. And that is still, in my view, the top priority.

Engaging Egyptians Abroad for Investment: What Will it Take?

Stefanie Ridenour's picture

Engaging Egyptians Abroad for Investment: What Will it Take?

Following the ousting of Hosni Mubarak in 2011, many Egyptian expatriates turned towards their home country with a renewed sense of hope and desire to participate in the change process. As the political and economic transition is underway, many Egyptians abroad are looking for ways to engage in the transition period, and donors and development agencies are trying to effectively channel their efforts to contribute to development outcomes.

 

A Data-driven Perspective on Islamic Finance

Leora Klapper's picture
Also available in: العربية | Français

A Data-driven Perspective on Islamic Finance

To some, Sharia-compliant financial services offer a promising path towards expanding financial inclusion among Muslim adults. To others, these services – which avoid charging interest and seek to conform to Islamic principles of profit- and loss-sharing – do not address the root causes of financial exclusion. But most agree that there is a dearth of empirical research that measures the degree to which Muslims are using Sharia-compliant financial products, their demand for it, and the extent to which they refrain from using conventional financial systems. Without data and related analysis, policymakers and private sector leaders are often speculative in framing the role of Islamic finance within the financial inclusion agenda.

 

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