Regulatory Alerts2024-01-29
Circular to Banks and Financial Institutions No. 2024-02 of January 29, 2024
The Central Bank of Tunisia issued Circular No. 2024-02 to mandate strict marketing and pricing standards for all financial products and services offered by banks and financial institutions. The regulation requires institutions to implement approved pricing policies, establish robust internal controls for digital channels, provide comprehensive pre-contractual disclosures, and adhere to strict deadlines for financing decisions and guarantee releases. Furthermore, it imposes mandatory prior notifications for new products or fee changes, establishes new reporting requirements, and sets a compliance deadline of December 31, 2024, while prohibiting upward adjustments to banking conditions until that date.
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