Regulatory Alerts2021-05-31
Circular to Approved Intermediaries No. 2021-02 of May 31, 2021
The Central Bank of Tunisia issued Circular No. 2021-02 to authorize Approved Intermediaries to conduct forward foreign exchange, options, swaps (interest rate and currency), and commodity hedging operations with clients and foreign financial institutions. The circular establishes comprehensive risk management rules, including daily portfolio valuation using TUNIBOR and Treasury curves, ISDA framework agreements, credit risk limits, and mandatory reporting via the Data Exchange System and weekly email submissions. It repeals conflicting prior circulars, mandates speculative hedging notifications, and enters into force upon notification to ensure standardized, internationally aligned market practices.
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