Arab Today, arab today belgian politicians urge government to sell shares in bnp
Last Updated : GMT 00:26:33
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Arab Today, arab today

Belgian politicians urge government to sell shares in BNP

Arab Today, arab today

Arab Today, arab today Belgian politicians urge government to sell shares in BNP

BNP Paribas
Brussels - XINHUA

 A number of politicians believe that the Belgian government should sell its share in the troubled banking giant BNP Paribas, local newspaper Flanders Today reported Wednesday.
In June this year, the bank was fined 9 billion U.S. dollars for its role in a long-running scheme to cover-up financial transactions in violation of U.S. sanctions against Cuba, Iran and Sudan.
The Belgian government owns a 10.3 percent stake in BNP Paribas.
Some politicians believe that the Belgian government should give up its stake in the bank.
Belgian State Secretary for the fight against Tax and Social Fraud John Crombez told the Belgian newspaper De Morgen over the weekend that the country should give up its share in the bank or take a more active role in its management.
According to Flanders Today, he has the support of most of the political parties in parliament.
However, Belgian Finance Minister Koen Geens has been more cautious.
In a statement on Tuesday, he urged more caution in public statements on the affair. The government, said the statement, needs to get "a precise understanding of what lessons management and all the responsible parties will learn from what has happened, including matters regarding shareholder transparency."
Geens also requested a meeting with BNP Paribas CEO Jean-Laurent Bonnafe to determine the way forward for the bank.

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