II. Ahmad Bey's reign in Tunisia (1922-1942) fell into the period of the French protectorate. During this period, the coinage was under the supervision of the French Republic, but Ahmad Bey had some say in the coinage. II. Coins minted by Ahmad: Bronze: 1, 2, 5 francs Silver: 50 francs, 1 piastre Gold: 20 francs The coins were pegged to the French franc, 1 franc = 20 piastres. The obverse of the coins featured the portrait of Bey Ahmad, and the reverse featured the coat of arms of the French Republic. Banknotes: 1 franc, 5 francs, 10 francs, 20 francs, 50 francs, 100 francs, 500 francs. The banknotes were issued by the Banque de France, but Ahmad bey's portrait was also included on them. Numerous commemorative coins were minted during Bey Ahmad's reign, these mainly commemorated historical events and anniversaries. In the 1930s, Bey Ahmad allowed Tunisian Jews to mint their own coins to celebrate Jewish holidays. During the Second World War , during the German occupation, coins were minted in the name of Ahmad Bey, but they did not include the coat of arms of the French Republic.