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.
Neo Destour
Independence of Tunisia from France was negotiated largely by the Neo Destour's Bourguiba. The effective date was March 20, 1956. The next year the Republic of Tunisia was constituted, which replaced the Beylical form of government. Tunisia became a one-party state, with Neo Destour as the ruling party under Prime Minister and later President Habib Bourguiba.