Tunisie Valeurs: Tunisian securities, CEA rules, costs and account transfers

Digital onboarding proceeds through an application, document upload, agreement signature and first funding to activate the account. Tunisie Valeurs offers DigiGO electronic signature for account documents and subsequent instructions, including bank transfers and KYC updates. The account agreement remains the place to establish the authority granted to the intermediary.[10]

CEA contributions are made in cash. The company describes an annual tax-deductible contribution ceiling of TND100,000, subject to the investor’s tax position. Its five-year period starts on 1 January following the contribution year; each year’s contribution has its own period. Existing shares cannot simply be contributed in place of cash.[6]

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For CEA investments, the consolidated decree requires at least 60% in listed company capital securities, with the remainder in BTA, or qualifying collective funds. It provides a 90-trading-day deployment period, with temporary collective-fund investment after 30 days. Tunisie Valeurs tells clients to invest within 30 trading days; that instruction should be read alongside the statutory temporary-investment process.[7][6]

The published tariff uses Tunisian dinars and amounts before tax. Annual account or management charges below are collected half-yearly and attract 19% VAT. Brokerage also attracts the applicable exchange commission, CTB.[11]

CTB is a separate exchange charge. Bourse de Tunis publishes a ceiling of 0.15% for each side of a listed equity trade and an operative rate of 0.0005% for listed non-capital securities. A ceiling is not a broker-specific executed rate. Transfers registered away from ordinary exchange trading have a separate registration schedule.[12]

The CGP mandate describes an equity-focused managed portfolio and an initial collective-fund placement before shares are selected. Its manager owes professional care rather than a promised return. The 1% tariff above is specifically labelled for CEA géré; it should not be treated as the price of every managed portfolio.[8][11]

TVALTrade describes limit orders, opening-price orders and ATP orders seeking the quantity immediately available in the market. An ATP instruction can therefore execute across the available order book. Its chart tools include candlesticks, comparison charts and technical indicators; they support the investor’s decisions.[13]

CMF rules for internet dealing require order-channel arrangements, controls for available cash or securities, and a review-and-confirm stage. Recorded telephone instructions must subsequently receive written confirmation. An unexecuted instruction may be amended or cancelled; an acknowledgement alone does not guarantee a fill. The same rules require contingency arrangements, including alternative telephone or fax channels.[16]

Selling an asset, settling the sale and releasing cash are separate steps. The exchange’s delivery-against-payment mechanism links delivery of the securities to payment; it is not a promise that a requested bank withdrawal arrives on trade date.[17]

A CEA can move directly between authorised institutions while retaining its rights. The transferring institution must send the funds, holdings and account information to the receiving institution; withdrawing the protected principal personally is a different operation.[7]

Closure requires a signed letter to the head office. The FAQ says an account emptied of securities may remain available for later reactivation. Annual account maintenance is a separate charging question.[15]

Long-abandoned accounts have a different legal process. In April 2025, Tunisie Valeurs published a notice concerning accounts inactive for more than fifteen years, with a 30 June 2025 reactivation deadline before the stated transfer of balances to the public Treasury. That deadline is historical and applied to the accounts identified by the notice.[20]

This client failure fund is distinct from the exchange’s market-completion guarantee, which supports settlement between intermediaries. Neither mechanism converts the securities portfolio into a guaranteed-return investment.[19][17]

The head office is at Immeuble Integra, Centre Urbain Nord, 1082 Tunis Mahrajène.[2]

The published branch schedule is Monday–Friday 08:00–17:00 in winter and 08:00–14:00 in summer and Ramadan, with Saturday 08:00–12:00 in both schedules. Individual branch arrangements should be checked for the intended visit.[21]

The CMF asks clients first to write to the intermediary with acknowledgement of receipt and seek an amicable resolution. An unresolved personal claim can then be submitted with the relevant statements, contract notes, mandates and correspondence. The complaint should explain the alleged harm and disclose related court proceedings; a general market alert follows a different purpose.[23]

TVALMobile supplies market alerts and a currency-conversion utility, along with requests for ownership, CEA and pledge certificates. The converter is an information tool; it does not establish a foreign-exchange dealing account. The app also supports callback and appointment requests.[14]

Password recovery is available through the online tools. A forgotten username or unresolved login failure goes to the account manager. Address changes require supporting evidence through the appropriate account channel.[15]

CEA statements are required at least quarterly. Even a self-directed account permits qualifying broker purchases during the final five trading days of the statutory deployment period.[7]

Tunisie Valeurs began operations in 1991 and describes a network of eight branches. Its service history includes Treasury-market participation, online dealing and mobile account access.[1]

BIAT held 99.41% at 31 December 2025. BIAT Capital was absorbed with effect from 1 January 2021, transferring its assets and liabilities to Tunisie Valeurs; this was a corporate combination, rather than a new trading platform name.[3]

Bourse de Tunis’s 2025 activity table places Tunisie Valeurs first in total brokered capital across its listed, off-market, registration and declaration categories, with 29.35% on a buy-and-sell basis. Its share of listed equity-and-debt activity was 37.45%. These measures include institutional and other transactions; they do not measure retail customer numbers or execution quality.[4]

Headquarters

Tunis, Tunisia

Founded

1991