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The Tunis Stock Exchange (BVMT) was established in 1969. At that time, the role of the stock market in financing the economy remained limited or insignificant because of the dominance of the state and banks in financing the economy. This has resulted in significant levels of money creation and inflation. The market capitalization accounted for only 1% of GDP in 1986, in summary the exchange was not representative of the country's economy and did not participate in corporate finance.

In 1988, reforms were initiated in order to establish a modern legal framework for the financial market to contribute to the financing of the economy, with the aim of modernize and strengthening the role of the financial market.

In 1994, a major reform was adopted on the reorganization of the financial market to meet the highest international standards. And the Conseil du Marché Financier (CMF) was created, as administrative authority responsible for the protection of savings invested in securities on the stock exchange and other financial products, and the organization and supervision of the functioning of the market.

Stocks, bonds and funds are traded on BVMT.


Website: www.bvmt.com.tn

Market Regulator: Conseil du Marché Financier (CMF)

Founded: 1969

Currency: Tunisian Dinar (TND)

Clearing and Settlement: T+3

Trading session hours: 9:00 - 14:10 (GMT + 1)

Main Index: TUNINDEX


SME Compartment: Marché Alternatif


Tax Rates:

No taxes on dividends.

Capital gains from sale of shares acquired or subscribed from 1 January 2011 and sold before the end of the year following that of their acquisition or subscription is subject to tax:

  • for local natural persons, capital gains are subject to tax rate of 10%, after deduction of capital loss recorded during the same year and tax allowance of TND 10 000
  • for local corporate entities, capital gains are taxed in the case of corporate's profit and after deduction of capital loss
  • for foreign natural person, capital gains are subject to withholding tax of 10% with a maximum limit of 2,5% of sale price
  • for foreign coroporate entity, capital gains are subject to withholding tax of 30% with a maximum limit of 5% of sale price.

Bonds' interests are subject to withholding tax of 20%.


Member of:

  • African Securities Exchange Association (ASEA)
  • Sustainable Stock Exchanges Initiative (SSE)
  • World Federation of Exchanges (WFE), Affiliate member
  • Arab Federation of Exchanges (AFE)
  • Association des Bourses Francophones d'Afrique (ABFA)


Annual Reports/Yearbook:

2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014



34 Avenue de la Bourse - 1053, les Berges du Lac II
Phone: (+216) 71 197 910
Fax: (+216) 71 197 903
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.


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