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The Governor of the Central Bank of Tunisia, while welcoming Tunisians’ remittances abroad, encouraged our compatriots abroad to invest more in financial products offered by the banking and financial sectors. At the opening of the National Forum on Tunisian Skills Abroad, held on August 6-7, 2024 at the Diplomatic Academy, he encouraged Tunisian banks to build closer relations with Tunisians abroad, which will help them internationalize their operations. He also recalled “the advantages offered by the opening of foreign accounts in foreign currencies or convertible dinars to non-residents, such as hedging exchange rate risks, the funds held there and the free transfer of investment products through debits of these accounts.” »
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Transfers by resident enterprises have always been resilient and have Provides reliable and unconditional support for the economic support of our families and the consolidation of foreign currency assets and national savings.
According to the census conducted by the Ministry of Foreign Affairs, Immigration and Tunisians Abroad, Tunisia has 1.8 million Tunisians living abroad, of which 50% are active professionals composed of technicians, managers and freelancers, and by the end of 2023, TRE transfers will strengthen by 5.4% It reached a considerable level of nearly 9 billion dinars, or 5.6% of GDP. This momentum continued in the first half of 2024, with transfers reaching 4.3 billion dinars.
I would like to take this opportunity to invite my compatriots living abroad to Increase investment in financial products The funding provided by the Tunisian banking and financial sectors is intended to take advantage of the climate of stability currently enjoyed by Tunisia, which has allowed it to curb inflation and stabilize reserve levels, and therefore the value of the dinar.
Our compatriots will be able to benefit from incentives in their favor, including bank charges for transferring funds from abroad, available savings products, and rates of remuneration on deposits in foreign currency or convertible dinar.
In this context, Tunisian banks invited to build closer ties with resident companieswhich will, on the one hand, internationalize its activities in the field of money transfers and, on the other hand, facilitate transfers through formal channels
For its part, as a regulator and catalyst of payment systems and instruments, the BCT has been at the origin of several innovative initiatives and projects aimed at promoting digital financial services for the benefit of resident businesses.
on the other hand, The Central Bank continues to encourage innovation among Tunisian financial institutions and Tunisian fintech companies, particularly to facilitate international money transfers.
In addition, the wide geographical coverage of exchange offices approved by the BCT since 2019 makes manual exchange operations easier while preserving the rights of resident enterprises.
I would also like to remind you Advantages of opening a foreign account in foreign currency or convertible dinar for non-residents For example, hedging exchange rate risk, free transfer of funds held and free transfer of investment products by debiting these accounts
In this regard, I would like to emphasize the importance of Tunisia: Through investment leverage, the role of Tunisian residents abroad is shifting from a savings provider to an engine of growth.
To this end, the Government and the BCT work closely together so that the different administrative bodies, banks and other financial institutions create a climate of trust that will allow Tunisians living abroad to take advantage of the investment opportunities offered by the Tunisian economy and the advantages that foreign exchange regulations provide them.
Among these advantages we can cite: Dual status of the foreign exchange program, which allows resident companies to enter into credit contracts and open accounts in domestic dinars and the management of its assets in Tunisia and the completion of all related activities.
Furthermore, unlike other non-resident individuals, resident companies benefit from freedom of investment in all sectors of the economy and are guaranteed transferability of their investment income.
It goes without saying that TREs, like other foreign investors, always have the option of a special regime that allows the creation of companies as non-residents in most sectors of the Tunisian economy.
Finally, I would like to reiterate that the BCT is committed to working with stakeholders to build a financial ecosystem that will allow overseas compatriots to fully benefit from the advancement of digital finance while making socio-economic contributions. Mutually beneficial and sustainable integration will be able to cover socio-economic themes such as migration, reintegration of returning migrants, employability of vulnerable groups, and participation of diaspora in the use of formal remittance and investment channels.
Finally, I would like to share with you my firm belief: Tunisian skills abroad play more than just financial support With the influence of his skills working in multinational companies and international institutions, he continues to play the role of ambassador of Tunisia, providing strong support to the national economy and conveying a positive image of his homeland. »
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• Main issues on the agenda of Tunisia National Forum on Overseas Skills
• Tunisian skills abroad: how to work together and participate in Tunisia’s efforts
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