The adoption of Article 98 of the 2026 Finance Law has generated notable interest within Tunisian economic circles.
Presented as a decisive step toward greater financial liberalization, the option now offered to residents to open accounts in foreign currencies seemed to herald a turning point in foreign exchange management.
Yet behind the publicity, the operational reality reveals a persistent gap between legislative ambition and the practices of the banking system.
A liberal-leaning legal evolution
Formally, the reform introduces a notable rupture with the traditional architecture of exchange controls in Tunisia. Residents can now hold accounts denominated in currencies such as the euro, dollar, or other convertible currencies without seeking prior authorization from the Central Bank. This simplification constitutes a significant shift in a country where currency flows have historically been tightly managed.
The planned modalities allow funding of these accounts from resources already held in foreign currencies, convertible dinars, or transfers from abroad, provided they are carried out within a legal framework. This opening aims to streamline international financial operations and better integrate Tunisian economic actors into global circuits.
In a context where foreign currency reserves stood at around $8.2 billion at the end of 2025, covering nearly 108 days of imports, authorities sought to reconcile macroeconomic prudence with the onset of gradual liberalization.
A still-incomplete implementation
Despite this legal advance, the concrete implementation of the scheme remains fragmented. Several banking institutions have not yet fully integrated this offering into their product ranges, citing the absence of detailed implementing texts. This caution is explained by the need to clarify operational modalities, notably in matters of regulatory compliance and risk management.
