Central Bank of Tunisia Circular No. 2017-12 dated December 29, 2017

Tunis, December 29, 2017 CIRCULAR TO BANKS NO. 2017-12 Subject: Regulation of banking conditions.

The Governor of the Central Bank of Tunisia, Having regard to Law No. 2016-35 of April 25, 2016 establishing the status of the Central Bank of Tunisia and in particular Articles 8 and 63 thereof; Having regard to Law No. 2016-48 of July 11, 2016 concerning banks and financial institutions; Having regard to the Code on Financial Services for Non-Residents; Having regard to Circular No. 86-42 of December 1, 1986 concerning the regulation of banking conditions, as amended by subsequent texts and in particular Article 8 thereof; Having regard to Circular No. 91-22 of December 17, 1991 concerning the regulation of banking conditions, as amended and supplemented by subsequent texts, in particular Circular No. 2014-05 of June 27, 2014; Having regard to the resolution of the Board of Directors of the Central Bank of Tunisia dated December 27, 2017; Having regard to Opinion No. 2017-10 of the Compliance Control Committee dated December 29, 2017, as provided for by Article 42 of Law No. 2016-35 of April 25, 2016 establishing the status of the Central Bank of Tunisia; Decides:

Article 1: The provisions of the first paragraph of Article 36 of Circular No. 91-22 of December 17, 1991 cited above are repealed and replaced as follows:

Article 36 (new first paragraph): The rate of return on savings (TRE) is set at an annual rate of 5%.

Article 2: This circular shall enter into force as of January 1, 2018.

The Governor, Chedly AYARI