Foreign Exchange Controls Affecting Trade
The Tunisian Dinar is now convertible for current account transactions; companies or individuals engaging in foreign trade can apply to the central bank for a convertible currency account. Foreign investors may freely repatriate profits and proceeds from the sale of equity, but other transfers may be subject to central bank authorization. Most trade-related transactions are conducted through letters of credit without difficulty, although Tunisian banks are sometimes reluctant to issue letters of credit under terms heavily favorable to the foreign supplier. However, Tunisian law strictly prohibits the flow of currency out of Tunisia as payment for imports before presentation to the issuing bank of documentation establishing that the merchandise is in the custody of Tunisian customs.