Tunisia’s Financial Inclusion Efforts Face Hurdles Amid Crime Prevention Concerns

Despite progress in developing its postal network and regulatory reforms to the microcredit sector, Tunisia’s financial inclusion landscape remains fragmented and inaccessible to millions of citizens.

Fragmented Landscape

According to estimates, around 30% to 40% of adult Tunisians (approximately 2.5 to 3.5 million individuals) remain unserved or underserved by the mainstream financial sector. This is despite having over 12 million bank and postal accounts registered. Moreover, more than half of Tunisia’s registered businesses (roughly 245,000 to 425,000 enterprises) face similar challenges in accessing financial services.

Consequences of Financial Exclusion

Experts point out that this lack of access to financial services can have severe consequences, including:

Increased vulnerability to financial crime
Criminal organizations can exploit this gap to launder money and finance illegal activities

Addressing the Challenges

To address these concerns, policymakers are urging the appointment of a high-level champion to coordinate a national financial inclusion strategy and advocate for policy reforms. Additionally, they are exploring market opportunities such as:

Digital finance
Microfinance
Leveraging the network of the Tunisian Post to increase access to financial services

Crime Prevention in Financial Inclusion Efforts

The report also highlights the importance of crime prevention in Tunisia’s efforts towards financial inclusion. By strengthening the country’s financial regulatory framework and improving public awareness about financial risks, authorities can:

Reduce the attractiveness of illegal activities
Promote a safer financial environment for all citizens

A Multifaceted Approach

As Tunisia moves forward with its financial inclusion agenda, it is clear that addressing the challenges posed by financial exclusion will require a multifaceted approach that balances:

Economic growth
Social welfare
Crime prevention