Regulatory Alerts2020-02-24
Central Bank of Tunisia Circular No. 2020-04 to Banks and Financial Institutions dated February 24, 2020
The Central Bank of Tunisia issued Circular No. 2020-04 to establish the conditions and procedures for releasing state-subsidized funds covering up to three percentage points of the interest rate differential on investment loans granted by banks and financial institutions to qualifying SMEs between January 1, 2019, and December 31, 2020. The circular mandates that beneficiary enterprises operate in agricultural or productive sectors (excluding commerce, finance, real estate development, hydrocarbons, and mining) with investment costs ranging from 150,000 to 15 million Tunisian dinars, while requiring banks to maintain a profit margin not exceeding 3.5% and submit monthly claims, compliance reports, and detailed documentation to the central bank for disbursement. Banks are further obligated to monitor repayment delays, early settlements, and financial restructuring events, ensuring timely fund transfers to enterprises within 48 hours of state crediting.