Nizar Chaddad, a veteran of Tunisia's central bank, has been appointed as the new CEO of Société Monétique Tunisie (SMT), the country's national electronic payment operator. With 27 years of experience at the Banque centrale de Tunisie (BCT), Chaddad brings a wealth of knowledge in financial innovation, inclusion, and modernization of payments. His appointment comes as Tunisia seeks to accelerate its transition towards a cashless economy.
During his tenure at the BCT, Chaddad contributed to strategic initiatives related to the development of financial infrastructure and electronic payments. He also represented the institution in several regional and international committees, participating in discussions on the evolution of the sector. Additionally, Chaddad has been a member of the Expert Group on Financial Inclusion Policies (EGFIP) of the Alliance for Financial Inclusion (AFI) since January 2024.
As CEO of SMT, Chaddad has outlined four key priorities: stimulating innovation, strengthening interoperability between payment actors, consolidating trust and security in digital transactions, and building a more accessible and efficient financial ecosystem. SMT plays a vital role in Tunisia's electronic payment landscape, ensuring interconnection between actors and infrastructure that facilitate transactions.
The appointment of Chaddad comes at a critical time, as Tunisia aims to reduce its reliance on cash and promote electronic payments. The SMT CEO's mission is to evolve the country's payment infrastructure and services, supporting the transition towards a less cash-dependent economy. With his extensive experience in the financial sector, Chaddad is well-positioned to drive this transformation.
The move towards digital payments is a key aspect of Tunisia's economic modernization efforts. The country's financial sector must continue to evolve, addressing issues such as financial inclusion, transaction security, and accessibility of digital payments. Chaddad's appointment is seen as a significant step towards achieving these goals.
SMT occupies a central position in Tunisia's electronic payment ecosystem, providing a critical link between actors and infrastructure. The company's role in facilitating transactions and promoting digital payments will be crucial in driving the country's shift towards a cashless economy. Chaddad's leadership will be instrumental in shaping the future of electronic payments in Tunisia.
The country's progress towards a cashless economy will depend on the success of initiatives such as Chaddad's appointment and the development of digital payment infrastructure. As Tunisia continues to modernize its economy, the role of SMT and its CEO will be closely watched. With his extensive experience and outlined priorities, Chaddad is poised to make a significant impact in driving the country's transition towards digital payments.
Key points
- Nizar Chaddad's appointment as CEO of SMT aims to drive Tunisia's shift towards digital payments and a cashless economy.
