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AMEN BANKIS MSI 20000 CERTIFIED BY SGS

2017-05-23

Experts and specialists in financial certification arrived from Paris, London and Geneva on Monday 22 May for the compliance certification of AMEN BANK with the MSI 20000 Standard.

The Executive Board of AMEN BANK, chaired by Mr. Ahmed El Karm and composed of Mr. Karim Ben Yedder, Managing Director, and Mr. Mehrez Riahi and Mr. Neji Ghandri, members of the Executive Board, were provided by SGS with the technical reports and Certificates of conformity to the MSI 20000 standard, in the presence of the bank's directors and distinguished guests from the local and regional financial market.

It took almost twelve weeks of evaluation work to conclude AMEN BANK's compliance with the MSI 20000 standard resulting in the certification decision. A project led from Paris by IWK Corporate and steered in Tunis by Maghreb Corporate, under the control of SGS.

"This is a new milestone, which strengthens AMEN BANK in its new orientations and ambitions. After a period of consolidation, the bank features favorable predispositions to face its challenges and to consider a more stable and serene growth," explained Mr. Marc Flandin - Chairman of IWK Corporate.

Mr. Khaled Boukhris, General Secretary and Chief Financial Officer of AMEN BANK, underlined that with the MSI 20000 certification, the Executive Board demonstrates its commitment to guarantee the soundness and financial performance of AMEN BANK and confirms its determination to " Engage the bank in a process of continuous improvement, based on international banking standards.

"The MSI 20000 certification provides information on financial management and governance, and is a benchmark for economic and financial actors, nationally and internationally," explains Laurent Hugelin - Expert Specialist in MSI 20000. "A renowned certification, which provides AMEN BANK with an international dimension, » explains Mr. Elyes Derouich - Maghreb Manager on Certification activities at SGS.

Certification to a given standard is a strong initiative and action. The MSI 20000 certification, a guarantee of economic attractiveness and financial confidence, grants the beneficiary an undeniable competitive advantage in the market, while giving it the means to conduct improvements and achieve the efficiency of its financial activity, through the relevance of the submitted evaluation reports.

Based on the MSI models and measurement diagrams, the bank's management stood out for:

• The increased productivity of its staff, in line with international standards in the banking sector,
• The control of its operating expenses and the satisfactory coverage of its technical provisions,
• The structure of its receivables and the profitability of its portfolio, highlighted by the diagnosis of the assets held by the institution,
• The new direction of its strategies in terms of overall risk management.

A medium-term action plan has been drawn up jointly between the certifier and the beneficiary in order to consolidate complying elements in compliance and to monitor and improve the other elements. Through all these points, translated in the form of scoring and materialized by a certification, AMEN BANK thus enters the circle of MSI 20000 certified companies in Tunisia.

REMINDER:

MSI 20000

MSI 20000 for Market Standard Indicator – index 20000, is the standard dedicated to financial quality of companies and institutions. The MSI 20000 specification provides the financial quality requirements by sector of activity. The standard is now being developed and regulated by the Swiss Organization MSI in Geneva.

SGS

With over 90,000 employees and more than 2,000 offices in 140 countries around the world, SGS is the global leader in certification and inspection. The company, which is one of the top 10 companies listed on the Geneva stock exchange, recorded a turnover of more than € 6 billion in 2016, with a 6% annual growth.

AMEN BANK

As part of a strong and diversified group, AMEN BANK is one of the leading private banks in Tunisia, with nearly 1,200 employees and more than 160 branches spread throughout the country. In 2016, its total balance sheet exceeded 8 billion dinars ($ 3.25 billion), with a GNP close to 300 million dinars ($ 122 million).