The average NPL to total loan ratio for the period 2005-2008 was 18.3%, slightly lower than Egypt's 19.7% but significantly higher than that of Jordan (4.8%), Lebanon (11.9%), and Morocco (10.1%).
[3] In the wake of this revolution, it has been suggested that a modern offshore banking system would be a viable development strategy for Tunisia, and that it would play an essential role in the country's economic recovery.
[citation needed] Following the fall of the authoritarian president Zine el-Abidine Ben Ali, the poor health of the three major state banks has come to light.
This recapitalization sparked protest from activists such as the NGO I Watch, which demanded that the results of a government audit of the three state-owned banks be made public.
[8] The main concern is that these state-owned banks were obliged to provide loans to allies of Ben Ali during his administration that have never been repaid and are counted as "gifts."