The banking sector has recently undergone dramatic changes. Interest rates have been deregulated and commercial banks are now able to make long-term loans. The dinar has been made convertible in order to facilitate current account transactions. Other reforms call for less specialization of banks, increased competition, legal lending limits, and capital requirements. The sector has several offshore and deposit banks and five portfolio management institutions.
Tunisian banks are notoriously conservative in their lending practices.
The state bourse has been privatized and now is made up of several brokerage houses. The Financial Market Council has been created to supervise the market. About 20 firms are listed on the market and foreigners have limited access to the market. The bourse is in its seminal stage and will need more growth and experience before it can become a viable source for capital formation and investment. Tunisia offers everything from beaches to Roman and Islamic archeological sights.