Future Reform of the Exchange Code Could Facilitate Access to International Payments
The upcoming reform of the Exchange Code could facilitate Tunisian companies' access to international payments, foreign currency accounts, and digital financial services. This is one of the main messages to emerge from the hearing session organized on Monday, May 11, by the Finance and Budget Committee of the Assembly of People's Representatives (ARP), dedicated to the proposals of the National Organization of Entrepreneurs.
Background
This meeting is part of a national reflection on the modernization of the Tunisian exchange system, as startups, technology companies, and investors are demanding a framework more adapted to the digital economy and international trade. During the discussions, representatives of the organization estimated that the current exchange rules have become an obstacle to the development of innovative companies. They particularly pointed out the difficulties related to opening foreign currency accounts, transferring funds abroad, and accessing international banking platforms.
Challenges Faced by Startups and Digital Services
According to them, these constraints particularly penalize export-oriented startups and companies operating in digital services, which need rapid transactions and continuous interaction with global platforms. On the other hand, the speakers also advocated for the modernization of international payment methods, with more flexibility for electronic payments, digital wallets, and online financial platforms. They proposed a control system based more on digital tracking and analysis of financial flows rather than prior administrative authorizations.
Key Proposals for Reform
Another important point for investors: the reform could review the regime of sanctions related to exchange offenses. The representatives of the organization estimated that certain current provisions create an excessive climate of caution among entrepreneurs and limit international operations. They called for more gradual sanctions and voluntary regularization mechanisms. The debates also focused on clarifying the notions of "resident" and "non-resident", a sensitive topic for foreign investors, Tunisians living abroad, and international companies established in Tunisia. The participants demanded a unified legal definition to reduce regulatory uncertainty zones.
Objectives of the Reform
In fact, several deputies indicated that this reform aims to accompany the transition to a more open, digital, and competitive economy. They notably defended the principle of a gradual shift from prior control to posterior control, considered more adapted to international economic standards. The exchanges finally emphasized the explicit integration of startups, fintech, artificial intelligence, and the digital economy into the future Exchange Code, as well as the importance of strengthening Tunisia's financial and commercial exchanges with African markets.
