Banking in Tunisia
Tunisia is known for economic and political stability, its highly educated workforce, while Islamic radicalism is weak. Tunisia does not have the resource curse of oil or mineral deposits that often determine instability. From 2000 to 2009, Tunisia grew at an annual rate of 5.2% and its per capita income of about $8,300 (in PPP terms) in 2009 was second only to Lebanon among the oil-importing MENA countries. The stability of the Tunisian Dinar and historically low inflation in Tunisia are positive indicators for its potential development of financial services. Inflation was 4.9% in FY 2007-08 and 3.5% in FY 2008-09. The Tunisian Dinar was less volatile in 2000-2010 than the currencies of its oil-importing neighbors, Egypt and Morocco.
Tunisian National Solidarity Fund
The FSN is funded essentially by the State’s grants and by donations by Tunisian citizens and private companies on a totally voluntary basis. Tunisian society reacted with enthusiasm to President Zine El Abidine Ben Ali’s calls upon citizens to show solidarity with the needy. Thus, December 8 of every year—the historical date which marks the launch the Fund—witnesses a steady flow by Tunisians to various donation centers in order to contribute to the Fund. All the funds collected go towards implementing projects. There are no overhead costs nor are the funds used to pay employees of the fund.