logo
Tunisia: Circulating banknotes and coins surpass 24 billion dinars

Tunisia: Circulating banknotes and coins surpass 24 billion dinars

African Manager03-04-2025
For the first time, the amount of banknotes and coins in circulation (BCC) exceeded 24 billion dinars on Friday, March 28, 2025, according to data from the Central Bank of Tunisia (BCT).
This marks an increase of 2.7 billion dinars, compared to the same date last year. Cash circulation continued to rise through Eid al-Fitr, reaching a record 24.005 billion dinars—the highest level ever recorded.
The use of cash as the preferred means of payment is the result, on the one hand, of the growing reluctance of retailers to accept cheques and, on the other hand, of the still insufficient number of Eftpos terminals installed.
During the Eid al-Fitr period, a significant proportion of retailers force economic operators to pay in cash in most situations, as many retailers have not yet joined the TuniChèque platform or on the pretext that cheque verification will cause congestion at points of sale.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Tunisia: IACE launches survey on draft of foreign exchange code
Tunisia: IACE launches survey on draft of foreign exchange code

African Manager

time06-08-2025

  • African Manager

Tunisia: IACE launches survey on draft of foreign exchange code

Tunisian economic actors to gather their opinions and recommendations on the draft of the new foreign exchange code, which remains pending adoption despite repeated promises from successive governments. This initiative is part of the ongoing dialogue surrounding this draft, which was developed under previous governments but never finalized. The survey aims to assess the difficulties faced by businesses under the current regulations and to propose improvements to the new text, in coordination with the Ministry of Finance and the Central Bank of Tunisia (BCT). It also seeks to preserve the gains of the existing code while introducing more flexible mechanisms, in line with the demands of the business community. The last government meeting on this project dates back to February 26, 2024, under former Prime Minister Ahmed Hachani. Since then, businesses and professional organizations have been calling for a reform of the code to adapt it to the developments of local and international financial markets, notably through the introduction of modern financial services. The survey, made up of about 25 questions, focuses on the obstacles presented by the current foreign exchange code, whose first version dates back to the 1970s and has only undergone partial amendments since.

BCT Governor advocates for launching 'Diaspora Bonds'
BCT Governor advocates for launching 'Diaspora Bonds'

African Manager

time23-07-2025

  • African Manager

BCT Governor advocates for launching 'Diaspora Bonds'

Governor of the Central Bank of Tunisia (BCT), Fethi Zouhair Nouri, stated that a significant untapped potential lies within the Tunisian diaspora, which remains one of the most decisive and virtuous economic actors, despite recorded progress. Speaking at the second edition of the Tunisia Global Forum (TGF), organized on Tuesday by the Association of Tunisians from Grandes Écoles (ATUGE), Nouri noted that the diaspora represents a human capital that should be transformed into a financial asset to fund sustainable development. He emphasized the need to reorient strategy toward effectively integrating the diaspora into the national development process. He advocated for including the diaspora in economic policymaking by supporting existing associative networks and professional organizations, as well as improving access to transparent and centralized information. The BCT Governor stressed the necessity of offering innovative investment tools tailored to the diaspora's needs and expectations, drawing on international best practices. In this context, he mentioned the introduction of diaspora bonds, the funds from which would finance local businesses and infrastructure projects. He also cited, as an example, the launch of new savings products specifically designed for the diaspora. Nouri added that the BCT is committed to modernizing its services and improving communication, announcing the upcoming launch of a digital platform called 'EXOP' to enable online submission, processing, and tracking of requests addressed to the Central Bank. He further noted that a new version of the **foreign currency investment platform for non-residents in Tunisia, hosted on the BCT's website ( will soon be operational. 30% of foreign currency comes from expatriates The BCT Governor also recalled that the diaspora, comprising around 1.8 million citizens, primarily residing in Europe and Gulf countries, remains one of the main sources of foreign currency for Tunisia's economy. He added that, by the end of 2024, remittances from Tunisians abroad accounted for 30% of the BCT's foreign exchange reserves, equivalent to about 6.5% of GDP. These flows even have a stabilizing effect at the macroeconomic level, he noted. The Tunisian expatriate community also contributes to boosting domestic consumption, supporting economic growth, directly contributing 2% of state tax revenues and strengthening the local economy through investments, particularly in real estate. Challenges facing the Diaspora For his part, ATUGE President Amine Aloulou highlighted the obstacles the Tunisian diaspora faces in terms of investment, stressing their disconnection from the country. He affirmed that the forum and regional tours would help develop local networks and engage economic and administrative stakeholders. He added that the business environment, administrative and banking services, and air transport are key areas needing improvement to attract investors and foster the country's economic openness.

Check reform: major changes for slow-rolling benefits
Check reform: major changes for slow-rolling benefits

African Manager

time09-06-2025

  • African Manager

Check reform: major changes for slow-rolling benefits

Tunisia's check system reform has significantly altered payment behaviors, impacting consumption and inflation. The changes came after repeated complaints from SMEs about unpaid checks, as highlighted by Yassine Gouiaa, then-head of the National Organization of Entrepreneurs, in October 2021. By November 2021, Sofiane Gabsi, Secretary-General of the National Association of Small and Medium Enterprises (ANPME), even called for abolishing prison sentences for SME owners in cases of 'bounced checks.' In February 2025, a new law overhauling Tunisia's check system took effect, disrupting financial and economic norms long accustomed to checks as a primary payment and business tool. Spearheaded by the presidency, the reform introduced new rules, some still unenforceable and practices that clashed with both entrepreneurial culture and existing infrastructure. Overall, the reform was not implemented smoothly, as it is still being discussed and there is no consensus on its consequences. Firstly, the amount of circulating banknotes and cash reached nearly 25 billion Tunisian dinars in June, while the check law aimed to boost the digitization of local commercial transactions. By 28 May 2025, the value of circulating banknotes and coins had risen by 3 billion Tunisian dinars compared to the same period in 2024. This was officially attributed to the Eid al-Adha festivities, despite the fact that purchases, particularly of sheep, had not yet begun, given that prices had already skyrocketed to unprecedented heights. 72% of checks were used as collateral before reform and 74% of people reported difficulties afterwards Before the reform, 72% of checks were used for deferred payment or as collateral. One-third of consumers consider checks to be a means of deferred payment. Even among those with incomes above TND 5,000, 66% use them for installment payments. The IACE study, based on a survey, asserts that 47% of respondents encountered payment difficulties after the reform. 29% of respondents either gave up or postponed a purchase, often exceeding TND 1,500 D. The reform has had a particularly significant impact on the middle classes (earning TND 1,000–TND 3,000). According to INS data, the survey results indicate a decline in consumer purchasing intentions, particularly for goods sensitive to the use of checks. This could partly explain the 0.87% decline in the added value of the trade sector between Q4 2024 (2,857 MD) and Q1 2025 (2,832 MD). 'If you have cash, everything is free!' According to the IACE survey, the preferred payment methods of Tunisians after the new regulations came into force are cash (47%), followed by bank transfers and bills of exchange (16% each). Only 7% of respondents use the new check. Direct debit is almost non-existent (0.4%), despite being available at Tunisian banks, particularly for housing loans and loans for civil servants. According to the IACE survey results, 29% of consumers have given up on purchases, affecting essential goods. 78% of postponed purchases exceed TND 1,500, indicating a significant economic impact. This decline in purchase intent could explain the 0.87% decrease in the added value of the commerce sector. Looking ahead, 58% of respondents prefer mobile payments. 34% want deferred debit cards. Only 2% want to return to the old check system. Meriem Ben Nasser offers another perspective on the future, asserting that there are a few quick and effective alternatives to checks. In a LinkedIn post, she mentions BNPL (Buy Now, Pay Later), a digital solution integrated into the point of sale which enables customers to purchase items on credit with just a few clicks, without any paperwork. Other alternatives include instant digital microcredit backed by simplified scoring via mobile or payment history, pre-authorized payment cards with integrated payment facilities and mobile split payments via QR code. According to the expert, it is urgent that retailers and consumers are trained, the user experience is simplified, and local, inclusive and interoperable solutions are created. IACE conclusion: The law on checks needs to be reviewed. A survey conducted by the IACE one month after the new check regulations came into force reveals a rapid but mixed transition in payment habits. While the majority of consumers seem to be adapting by using alternative solutions, some members of the population are struggling to adapt, showing signs of temporary economic disengagement and indicating a risk of financial exclusion. In this context, it is essential to review the regulations governing alternative means of payment, taking into account technological developments and international standards. For instance, the European Union has enacted legislation that makes immediate transfers mandatory at the same cost as standard transfers. This system offers a reliable and modern alternative to cash or check payments. It is crucial to emphasize that any reform must be accompanied by digital inclusion measures, targeted educational campaigns, and appropriate transitional arrangements, in order to ensure equitable adoption and prevent vulnerable groups from being excluded. Furthermore, changes in usage must be continuously monitored in order to assess the medium- and long-term effects of this regulatory transformation on the economy and society. *Analysis note from the Arab Institute of Business Managers (IACE).

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store