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.
History of modern Tunisia
In its modern history, Tunisia is a sovereign republic, called the al-Jumhuriyyah at-Tunisiyyah. Tunisia has over ten million citizens, almost all of Arab-Berber descent. The Mediterranean Sea is to the north and east, Libya to the southeast, and Algeria to the west. Tunis is the capital and the largest city (over 800,000); it is located near the ancient site of the city of Carthage.