FSVC Leads the Way in Financial Compliance Training Programs to Boost SME Access to Finance in Tunisia

The Financial Services Volunteer Corps (FSVC) has been at the forefront of promoting financial compliance training programs in Tunisia, with a key focus on supporting greater access to finance for small and medium-sized enterprises (SMEs). According to reports, FSVC has donated over $7.6 million worth of services towards this effort.

Enhancing Capacity-Building Initiatives

In its current program, FSVC is working closely with non-bank financial service providers and the government to enhance capacity-building initiatives aimed at boosting SME access to finance. This comprehensive approach is expected to have a significant impact on Tunisia’s economic landscape, particularly in terms of job creation and economic growth.

A Rich History of Success

FSVC has a rich history of implementing successful programs in Tunisia, dating back to 2019 when it launched a project designed to build the capacity of the Chambers of Commerce (CoCs) of Tunisia. The initiative aimed to empower local development and investment within communities, with impressive results reported.

Partnerships for Transparency and Accountability

In addition to this, FSVC has partnered with local organizations such as ATCP to increase transparency and accountability in Tunisia. This collaborative effort has led to significant improvements in financial governance, fostering a more conducive environment for business growth and development.

Combating Financial Crimes and Promoting Transparency

FSVC is also working closely with the Financial Intelligence Unit (FIU) in Tunisia, building capacity and enhancing its ability to combat financial crimes. Furthermore, the organization has played a key role in mobilizing domestic resources and promoting transparency and accountability in public finances, both in Tunisia and Egypt.

Strengthening SME Access to Finance

A notable achievement of FSVC’s program is the strengthening of SME access to finance through improvements in the venture capital sector, financial institution practices, and the legal and regulatory framework. This comprehensive approach has helped create a more robust entrepreneurial ecosystem, enabling businesses to grow and thrive.

Far-Reaching Implications for Economic Development

As FSVC continues to lead the charge in promoting financial compliance training programs in Tunisia, its efforts are expected to have far-reaching implications for the country’s economic development. By building capacity and enhancing transparency and accountability, FSVC is helping to create a more conducive business environment, ultimately driving growth, job creation, and prosperity for Tunisians.

Key Highlights:

Over $7.6 million worth of services donated by FSVC towards financial compliance training programs in Tunisia
Partnership with non-bank financial service providers and the government to enhance capacity-building initiatives
Successful history of implementing programs in Tunisia, including a project to build the capacity of Chambers of Commerce (CoCs)
Partnerships for transparency and accountability with local organizations such as ATCP
Collaboration with the Financial Intelligence Unit (FIU) to combat financial crimes
Strengthening SME access to finance through improvements in venture capital sector, financial institution practices, and legal and regulatory framework