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Compliance in Financial Services Industry in Tunisia: A Critical Review

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The Central Bank of Tunisia (Banque Centrale de Tunisi/BCT) has been conducting a thorough review of the country’s supervised financial institutions, as revealed by a recent report. The bank’s monitoring efforts involve analyzing prudential reports and documentation submitted by external auditors at the end of each year, as well as extracting information from inspection reports.

Strengthening Supervision

The Direction Générale de Supervision Bancaire (DGSB) staff are equipped with specialized training in economics, accounting, and finance, enabling them to effectively assess the compliance of financial institutions with regulatory requirements. The report highlights the importance of:

• Internal controls
• External audits
• Prudential reporting

in ensuring the stability of Tunisia’s financial system.

International Standards for Banking Supervision

The study forms part of a series of country reports examining the Basel Core Principles for Effective Banking Supervision, which aim to promote international standards for banking supervision and regulation. The report is available online in both English and French languages.

Challenges Facing Tunisia’s Financial Services Industry

Tunisia’s financial services industry has faced numerous challenges in recent years, including concerns over compliance with regulatory requirements. The report provides valuable insights into the country’s efforts to strengthen its supervisory framework and ensure a stable financial environment.

By reviewing this report, regulators and industry professionals can gain a deeper understanding of the measures being taken by Tunisia to improve its financial sector and promote stability in the region.