Economist Warns of Unintended Consequences of New Payment Legislation
May 1, 2026
Economic expert Ridha Chkoundali sounded the alarm this Friday, May 1, 2026, regarding the unintended consequences of the new legislation on payment methods. According to him, the tightening of the legal framework surrounding checks and the severity of associated sanctions have had an inverse effect to that expected, leading to a surge in the circulation of physical currency at the expense of formal banking channels.
Appearing on the radio, the economist explained that many merchants and citizens now prefer to avoid using checks and instead turn en masse to cash payments. This phenomenon has been amplified by the removal of the transaction ceiling, which was previously set at 5,000 dinars, thereby freeing up liquid exchanges.
This trend towards a "cash-only" economy is causing a massive outflow of liquidity from bank vaults, with the money now circulating directly on the parallel or informal market. Chkoundali also highlighted that this dynamic has intensified with the introduction of new provisions on electronic invoicing introduced by the 2026 Finance Law, perceived as an additional constraint by economic agents.
In the face of this situation, which is weakening the banking sector and financial flow regulation, the expert urges the parliament to intervene quickly. He recommends a thorough revision of the check law as well as that related to electronic invoicing, while advocating for the definitive abolition of the ceiling on fiduciary circulation to stabilize the national economy.
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