64% of households have had no experience with bank credit

According to recent data presented by the Tunisian Forum for Economic and Social Studies (FTDES) on Monday, October 30, 2023, 64% of Tunisian households lack any experience with bank credit. In contrast, 36% of households maintain direct or indirect relationships with banks. Among these households, only 11% sporadically use banking services, including loans, while a mere 25% regularly utilize banking services and have access to credit.

The study, referencing an international survey, also revealed that a significant 45% of Tunisian households have limited or no access to financial services. Specifically, 19% of households possess minimal access to monetary services; they maintain a current account, often through postal services, and occasionally through banks, yet conduct only one transaction per month. Their savings are primarily held in postal accounts, which are low and subject to volatility. Occasionally, these households resort to microcredits but lack access to traditional bank credit.

On a microeconomic scale, access to bank financing can significantly enhance employment opportunities, positively influence household consumption, and stimulate local economic activity, as emphasized by the FTDES. Furthermore, facilitating access to sustainable sources of income through bank financing can empower individuals previously excluded from banking services. This inclusion enables them to manage expenses more effectively, smoothing out their consumption patterns over time.

For households with small businesses, often informal and fragile, access to financing can foster development, create income-generating opportunities, and enhance risk management. It is essential to underscore the vital role bank financing plays in enabling these businesses to grow and thrive.

In the realm of policy-making, enhancing financial inclusion, particularly by expanding opportunities for households to benefit from bank financing, has become central to efforts aimed at reducing inequalities and enhancing the income and living standards of the middle class.