Regulatory Alerts2023-12-15
Circular to Banks and Financial Institutions No. 2023-08 of December 15, 2023
The Governor of the Central Bank of Tunisia issued Circular No. 08 of 2023 to extend key deadlines for small and medium-sized enterprises benefiting from the state-subsidized interest rate differential on loans and investment financing. Specifically, Article 1 extends the application deadline from December 31, 2022, to December 31, 2024, while Article 2 extends the disbursement deadline from June 30, 2023, to June 30, 2025. The circular enters into force upon publication and operates under the legal framework of Laws No. 35, 47, and 48 of 2016, Presidential Decree No. 536 of 2022, and the Compliance Monitoring Committee's opinion.
Tunis, December 15, 2023 Circular to Banks and Financial Institutions No. 08 of 2023
Subject: Regulating the conditions and methods for disbursing amounts related to benefiting from the state subsidy covering the difference between the rate applied on loans and investment financing and the money market interest rate for small and medium-sized enterprises.
The Governor of the Central Bank of Tunisia, Having reviewed Law No. 35 of 2016 dated April 25, 2016, on establishing the basic system of the Central Bank of Tunisia, And Law No. 48 of 2016 dated July 11, 2016, on banks and financial institutions, And Law No. 47 of 2019 dated May 29, 2019, on improving the investment climate as amended by Decree No. 79 of 2022 dated December 22, 2022, on the Finance Law for 2023, particularly Article 21 thereof, And Presidential Decree No. 536 of 2022 dated June 7, 2022, on establishing the conditions and procedures for benefiting from the state subsidy covering the difference between the rate applied on loans and investment financing and the money market interest rate for small and medium-sized enterprises, as amended by Order No. 544 of 2023 dated July 20, 2023, particularly Articles 1 and 6 thereof, And Circular to Banks and Financial Institutions No. 6 of 2022 dated August 9, 2022, on establishing the conditions and methods for disbursing amounts related to benefiting from the state subsidy covering the difference between the rate applied on loans and investment financing and the money market interest rate for small and medium-sized enterprises, And Opinion of the Compliance Monitoring Committee No. 08 of 2023 dated December 14, 2023, as stipulated in Article 42 of Law No. 35 of 2016, particularly its second paragraph concerning confirmed circulars, Has decided the following:
Article 1: The phrase "December 31, 2022" appearing in Article 2 of the aforementioned Circular to Banks and Financial Institutions No. 6 of 2022 is replaced by the phrase "December 31, 2024".
Article 2: The phrase "June 30, 2023" appearing in Article 5 of the aforementioned Circular to Banks and Financial Institutions No. 6 of 2022 is replaced by the phrase "June 30, 2025".
Article 3: This circular enters into force from the date of its publication.
The Governor, Marouane Abassi