Long‑Awaited Overhaul of Tunisia’s Foreign‑Exchange Code Moves Forward
Tunisia – La Presse – After years of pressure from a broad spectrum of economic actors, the revision of the Foreign‑Exchange (FX) Code is now on the legislative agenda. The bill, currently under review by the Assembly of the People’s Representatives, must be refined to meet the expectations of stakeholders.
Background
- Initiative: Proposed by a group of deputies, the new FX Code draft was submitted in October 2025.
- Lead: Maher Ketari, President of the Finance and Budget Committee, says the proposal answers long‑standing demands from various economic sectors.
“The old code, enacted in 1976, was drafted for a very different external‑trade environment—different payment methods, delivery mechanisms, and no digital currencies or modern fintech. It is high time we bring our exchange legislation up to date,” Ketari told La Presse de Tunisie.
Main Objectives
| Aspect | What the New Code Aims to Do |
|---|---|
| Modernise legislation | Align the legal framework with today’s international trade, digital payments, and emerging technologies. |
| Clarify residency definition | The current code leaves the definition of “resident” to executive discretion. The revision will provide a clear, statutory definition for both Tunisian nationals acquiring residency and foreigners obtaining it. |
| Relax foreign‑investment rules | Offer greater flexibility to attract overseas investors, following the example of neighbouring countries that have already updated their FX laws. |
| Introduce new technologies & payment methods | Enable the younger generation to bring foreign currency into Tunisia while working locally—a process that is presently cumbersome. |
Key Statements from Maher Ketari
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No threat to foreign‑exchange reserves
“We will improve the existing framework so that our foreign‑exchange reserves grow and Tunisians abroad feel confident sending more funds. Instead of transferring €1,000, a Tunisian Resident Entity (TRE) could transfer €1,500, seeing that Tunisia is moving in the right direction.”
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Encouraging diaspora remittances
“The diaspora will have greater trust to remit money, and they will also be able to repatriate part of it for urgent needs. This is the philosophy behind the changes—there is no real risk of capital flight.”
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Fintech for the youth
“Bitcoin is completely different from what we are doing for imports or exports. Payment platforms and new technologies will be used by the youth, who are both our present and our future.”
Legislative Process
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Committee hearings – Over the next weeks, the Finance and Budget Committee will hold hearings with:
- The Central Bank
- The Ministry of Finance
- Freelance associations, startup founders, professional groups, and internationally‑renowned Tunisian experts.
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Open‑to‑public parliamentary day – After roughly a month of discussions, a special parliamentary session will gather all stakeholders who have been heard. The day will be open to journalists and the public, summarising amendment proposals and improvements.
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Article‑by‑article vote – Following the parliamentary day, the Finance and Budget Committee will vote on the text clause by clause.
“We are open to any discussion that can modify articles or steer the text in a direction that benefits Tunisia,” Ketari emphasized, inviting journalists and media representatives to attend the commission’s debates.
Why the Revision Matters
- Economic competitiveness: Aligning Tunisia’s FX regime with global standards can boost foreign direct investment (FDI) and improve the country’s standing among regional peers.
- Youth empowerment: By legalising modern payment solutions, the new code aims to curb the brain‑drain of young Tunisians forced to seek opportunities abroad.
- Stability of reserves: The government assures that the reforms will not destabilise foreign‑exchange reserves, but rather encourage higher inflows from the diaspora and investors.
For further updates, stay tuned to La Presse and follow the parliamentary proceedings on the official Assembly website.
