Unprecedented Growth in Bills of Exchange in Tunisia in the First Half of 2025
While Check Usage Continues to Decline
According to data published by the Central Bank of Tunisia (BCT) in its "Paiements en chiffres" bulletin, the number of bills of exchange used increased by 155%, reaching 2.1 million operations with a total value of 25.6 billion dinars. In contrast, the number of checks issued plummeted by 66.8%, with 4 million checks for a value of 27.6 billion dinars. The value of bank transfers, on the other hand, progressed by 9.7%, totaling 37.6 billion dinars for 18.5 million operations.
Analysis by Financial Expert Moez Hadidane
Financial analyst Moez Hadidane noted, in an interview on Express Fm, that all payment methods, except checks, recorded a cumulative increase of 24.5 billion dinars. The decline in check transactions, which decreased by 34 billion dinars, is primarily attributed to the entry into force of the new check law in February 2025.
Significant Decline in Check Usage
The number and value of checks have drastically decreased in the first half of 2025, with 4 million checks issued compared to 12 million during the same period in 2024. The rate of rejected checks also decreased, from 4.1% in the first quarter to 0.8% in the second quarter. Hadidane provided detailed figures on the value and number of accepted and rejected checks, confirming a significant reduction in payment incidents.
Bills of Exchange: Rejection Rate and Legislative Modifications
Regarding bills of exchange, the rejection rate stood at 10.6% in number for the first half of 2025, compared to 11.6% for the entire year of 2024. In terms of value, 1.8 million bills were issued, compared to 2.1 million during the same period. The number of rejected bills of exchange reached 222,000 out of 2.1 million, compared to 95,000 out of 830,000 in the first half of 2024, indicating that the settlement capacity remains limited for a portion of operations.
Potential Reforms for Bills of Exchange
Hadidane emphasized that legislative modifications only affected the check law, without impacting bills of exchange. He added, "Changes can be considered to improve the efficiency of bills of exchange. Four major reforms could reduce the rejection rate by half, without resorting to criminal sanctions."
