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.
Tunisia
In 1869, Tunisia declared itself bankrupt and an international financial commission took control over its economy. In 1881, using the pretext of a Tunisian incursion into Algeria, the French invaded with an army of about 36,000 and forced the Bey to agree to the terms of the 1881 Treaty of Bardo (Al Qasr as Sa'id). With this treaty, Tunisia was officially made a French protectorate, over the objections of Italy. Under French colonization, European settlements in the country were actively encouraged; the number of French colonists grew from 34,000 in 1906 to 144,000 in 1945. In 1910 there were 105,000 Italians in Tunisia.