Regulatory Alerts2020-01-28
Central Bank of Tunisia Circular to Banks and Financial Institutions No. 2020-01 dated January 28, 2020
The Central Bank of Tunisia issued Circular No. 2020-01 to mandate preliminary measures for banks and financial institutions adopting International Financial Reporting Standards (IFRS). The regulation requires management bodies to establish, validate, and submit a strategic project plan and roadmap within three months of publication, supported by dedicated steering committees and cross-functional teams. It further mandates the allocation of sufficient human and material resources, continuous monitoring by audit and risk committees, and targeted training to ensure full compliance with the IFRS adoption framework.
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