VZCZCXYZ0000
PP RUEHWEB

DE RUEHTU #2292/01 2490734
ZNR UUUUU ZZH
P 060734Z SEP 06
FM AMEMBASSY TUNIS
TO RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY
RUEHC/SECSTATE WASHDC PRIORITY 1765

UNCLAS TUNIS 002292 
 
SIPDIS 
 
SENSITIVE 
SIPDIS 
 
NEA/MAG FOR MAYA HARRIS, 
TREASURY FOR MENA AML/CFT - RYAN WALLERSTEIN AND KRISTEN 
HECHT 
 
E.O. 12958: N/A 
TAGS: ECON EFIN ETTC PREL PTER KTFN TS
SUBJECT: TUNISIA AND THE U.S.-MENA PRIVATE SECTOR DIALOGUE 
(PSD) 
 
REF: A. TUNIS 1340 
 
     ¶B. STATE 82643 
     ¶C. STATE 123341 
 
¶1. (SBU) Summary:  Post has provided contact information on 
bank associations in Tunisia (ref A).  In addition, EconOff 
met with Mr. Amor Saafi, Managing Director of the Association 
Professionnelle Tunisienne des Banques et des Establissements 
Financiers (APTBEF) - the other bank association provided in 
ref A.  According to Saafi, terrorist financing and money 
laundering are not a primary area of concern for Tunisia, but 
the GOT does have an anti-terrorism and money laundering law 
(Law No. 2003-75).  In addition, in May 2006, the Central 
Bank issued a directive ordering banks to report suspicious 
activity and setting up the anti-money laundering program. 
This directive also requires banks to have a compliance 
officer by January of 2007.  As a founding member of the 
Middle East North Africa Financial Action Task Force 
(MENAFATF), Tunisia is interested in the December MENA 
Private Sector Dialogue (PSD) conference in New York.  End 
Summary. 
 
------------------- 
Tunisia and the PSD 
------------------- 
 
¶2. (SBU) In an August 4 meeting with EconOff, Mr. Amor Saafi 
of the Association Professionnelle Tunisienne des Banques et 
des Etablissements Financiers (APTBEF) gave a brief overview 
of the mission of the association: It writes official 
publications and studies for the Central Bank; provides 
training for banks in productivity and competitiveness; 
organizes conferences on monetary and fiscal policy or other 
issues of concern; and engages in dialogue with other banking 
institutions abroad on issues of shared interest (i.e. how to 
improve efficiency of banking operations, exchange of 
experiences, etc.).  The association is also working to help 
Tunisian banks better align their structure and operations 
with international banking standards. 
 
¶3. (SBU) Discussion then turned to the Private Sector 
Dialogue (PSD) and the December conference in New York. 
According to Saafi, Tunisian banks do not have compliance 
officers.  Rather, each bank has a committee that deals with 
money laundering and terrorism issues.  This committee is 
required to report their findings on any suspicious activity 
to the Central Bank Commission (Commission Tunisienne 
d'Analyses Financieres).  Taoufik Baccar, Governor of the 
Central Bank is the president of this commission.  The 
secretary of the commission and the Central Bank official 
 
SIPDIS 
responsible for money laundering and terrorist financing is 
Mr. Samir Brahimi (samir.brahimi@bct.gov.tn).  Saafi provided 
a copy of the Law No. 2003-75 on combatting terrorism and 
money laundering.  He also indicated that there have been two 
decrees issued since the law was passed, one of which created 
the Commission Tunisienne d'Analyses Financieres (Decree No. 
2004-1865).  The second decree calls for the creation of a 
compliance officer (or equivalent function) to be created in 
all banks by January of 2007.  He did not have copies of 
these decrees but promised to provide EconOff with copies as 
soon as possible.  Saafi expressed a strong interest in the 
MENA/PSD conference and requested that Post provide him and 
the Central Bank with details. 
 
---------- 
Background 
---------- 
 
¶4. (SBU) Tunisia is not considered an important regional 
financial center due in large part to the very strict control 
exercised by the Central Bank over all aspects of financial 
transactions and the general non-convertibility of the 
Tunisian dinar.  There is an offshore banking sector that is 
subject to the same regulatory standards as onshore banks and 
is also tightly controlled by the Central Bank.  Offshore 
banks are licensed only after the Central Bank investigates 
their references and the Ministry of Finance approves their 
application.  Due to this tight control, there is no 
discernible money laundering activity reported to be 
occurring in Tunisia through formal financial institutions. 
 
------- 
Comment 
------- 
 
¶5. (SBU) The December New York PSD conference coincides with 
the January 2007 deadline for Tunisian banks to have a 
 
compliance officer function in place.  This requirement 
should help generate interest and increased Tunisian bank 
participation in the conference.  The June 28 meeting of the 
Association Tunisienne des Diplomes de l'Institut Technique 
de Banque de Paris is evidence of continuing Tunisian 
interest in these issues.  Post will continue efforts to 
obtain a list of relevant officials in the Tunisian banking 
sector and report septel. 
BALLARD