Tunisia Country Summary
Sanctions
High Concern
FATF AML Deficient List
Low Concern
Terrorism
Medium Concern
Corruption
Medium Concern
US State ML Assessment
Low Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF status
Tunisia is no longer on the FATF List of Countries that have been identified as having strategic AML deficiencies
Latest FATF Statement - 18 October 2019
The FATF welcomes Tunisia's significant progress in improving its AML/CFT regime and notes that Tunisia has strengthened the effectiveness of its AML/CFT regime and addressed related technical deficiencies to meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in November 2017. Tunisia is therefore no longer subject to the FATF's monitoring process under its ongoing global AML/CFT compliance process. Tunisia will continue to work with MENAFATF to improve further its AML/CFT regime.
Compliance with FATF Recommendations
The latest follow-up to the Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Tunisia was undertaken in 2019. According to that Evaluation, Tunisia was deemed Compliant for 10 and Largely Compliant for 26 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.
Sanctions
Tunisia, as a UN member, must support sanctions imposed by the UN Security Council to maintain international peace and security. The Security Council has established 31 sanctions regimes since 1966, which include economic sanctions, arms embargoes, and travel bans, with a focus on ensuring the rights of those targeted. Currently, there are 15 ongoing sanctions regimes aimed at political settlements, nuclear non-proliferation, and counter-terrorism, all administered by a sanctions committee.
The Arab League has implemented various sanctions, notably against Syria since 2011, and maintains a longstanding boycott of Israel, though enforcement varies among member states. In 2024, the League called for punitive measures against Israel regarding the Gaza situation, while also having the authority to impose economic sanctions and suspend member states' participation. The EU has also imposed sanctions on individuals in Tunisia to recover misappropriated state funds, aiming to support the country's democratic development.
Bribery & Corruption
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 39 |
| World Bank: Control of Corruption Percentile Rank | 43 |
Most U.S. firms in Tunisia do not see corruption as a major barrier to foreign investment, although some report that business procedures can be affected by corrupt practices. Tunisia's Corruption Perceptions Index score dropped to 40 in 2023, ranking it 87th globally, while citizens view corruption as a significant issue for government effectiveness. Despite legal frameworks aimed at combating corruption, including asset declaration laws and whistleblower protections, enforcement remains weak, and high-level corruption persists alongside petty corruption.
Economy
In 2023, Tunisia's economy faced significant challenges, including geopolitical tensions, water supply issues affecting agriculture, and increasing public debt, resulting in a modest GDP growth of only 0.4 percent. Despite a recovery in the tourism sector post-COVID-19, the country continues to grapple with high unemployment, inflation, and shortages of essential goods. The government has sought international financial support, but substantial bureaucratic barriers and stalled reforms hinder further economic progress.
Tunisia's investment climate is characterized by substantial bureaucratic barriers and a significant informal economy, which complicate the business environment for legitimate enterprises. Despite efforts to attract foreign direct investment (FDI) through various incentives and reforms, such as the 2016 Investment Law and the Start-Up Act, the flow of inward investment has not met expectations, particularly due to political instability and inadequate infrastructure outside major urban areas. Promising sectors for investment include agribusiness, aerospace, and renewable energy, bolstered by Tunisia's strategic location and educated workforce.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
