Regulatory Alerts2019-01-30
Central Bank of Tunisia Circular to Authorized Intermediaries No. 2019-02 dated January 30, 2019
The Governor of the Central Bank of Tunisia issued Circular No. 2019-02 to amend Article 14 regarding current transaction transfers by introducing a named "International Technological Card" for internet-based payments. The circular authorizes authorized intermediaries to grant resident companies an annual allocation of up to 10,000 Tunisian dinars, or 100,000 dinars for certified startups upon presentation of a valid digital economy ministerial decision. This measure streamlines cross-border online payments by allowing the allocated funds to be transferred in single or multiple installments using the newly designated card.
Tunis, January 30, 2019 Circular to Authorized Intermediaries No. 2019-02
OBJECT: Transfers in respect of current transactions.
The Governor of the Central Bank of Tunisia, Having regard to the Exchange and Foreign Trade Code promulgated by Law No. 76-18 of January 30, 1976 consolidating and codifying the legislation on exchange and foreign trade governing relations between Tunisia and foreign countries, as amended by subsequent texts and notably Decree-Law No. 2011-98 of October 24, 2011; Having regard to Law No. 2016-35 of April 25, 2016 establishing the status of the Central Bank of Tunisia; Having regard to Law No. 2018-20 of April 17, 2018 on Startups; Having regard to Decree No. 77-608 of July 27, 1977 setting the implementation conditions for the Exchange and Foreign Trade Code, as amended by subsequent texts and notably Government Decree No. 2017-393 of March 28, 2017; Having regard to Government Decree No. 840-2018 of October 11, 2018 setting the conditions, procedures and deadlines for granting and withdrawing the startup label, the benefits of incentives and advantages for startups, and the organization, prerogatives and operating procedures of the labeling committee; Having regard to Circular to Authorized Intermediaries No. 2016-09 of December 30, 2016 on transfers in respect of current transactions; Having regard to Opinion No. 19-2019 of the Compliance Control Committee dated January 25, 2019, as provided for in Article 42 of Law No. 2016-35 of April 25, 2016 establishing the status of the Central Bank of Tunisia.
Decides: Single Article: The provisions of Article 14 of Circular to Authorized Intermediaries No. 2016-09 of December 30, 2016 on transfers in respect of current transactions are repealed and replaced as follows: « Article 14 (new): When payment by resident companies for the transactions referred to in paragraph H-1 of Annex No. 1 to this Circular is required via the internet, the transfer may be made by a named international payment card reserved specifically for these transactions, called the "International Technological Card", with a validity period of one calendar year. To this end, the authorized intermediary is authorized to issue to any resident company making a request an annual maximum allocation of ten thousand dinars (10,000 DT), transferable in one or several installments to make the payments referred to in the first paragraph of this Article by using the "International Technological Card" mentioned above. The maximum annual allocation amount is set at one hundred thousand dinars (100,000 DT) for any resident company that has obtained the "Startup" Label in accordance with current regulations. In this case, the authorized intermediary must require a copy of the decision from the minister in charge of the digital economy granting the "startup" label, which is currently valid. »
THE GOVERNOR MAROUANE EL ABASSI