Tunisia-Tunisian Expatriates will be capable to open a remote investment account with Tunisian banks as of October 2020

A memorandum of agreement was approved on Friday in Tunis between Finance Minister Mohamed Nizar Yaïche and the Director-General of the Banque Nationale Agricole (BNA), Habib Belhaj Gouider to allow Tunisians expatriates to open a remote investment account with Tunisian banks (in foreign currency), with a yearly interest rate of 2% (repayable in Tunisian dinars).

From 1 October 2020, this deal will be operational with the BNA and will be generalised, in the succeeding steps, with the many Tunisian banks, the Finance Minister stated.

He explained during the signing ceremony of this agreement with the BNA, that this novel financial product will offer to strengthen relationships between the Tunisian expatriates and the banking sector in Tunisia and bring foreign currency to the country and improve the national economy.

Furthermore, Yaïche emphasised that this memorandum of understanding is part of the new measures announced on July 21, 2020 by the Ministry of Finance for the benefit of Tunisians living abroad.

For his part, the BNA D-G stated that this new financial product will allow Tunisian expatriates, whose number is estimated at 1.6 million Tunisians, to transact with the banking sector at distance and to utilise modern technologies, which will increase their financial transactions and contribute to the development of the national economy.

TAP