Regulatory Alerts2024-11-21
Central Bank of Tunisia Circular No. 2024-14 of November 21, 2024
The Central Bank of Tunisia issued Circular No. 2024-14 to establish comprehensive obligations and procedures for banks regarding check transactions and payment incident management. The circular mandates strict pre-delivery verification of account holder status, requires banks to pay checks up to 5,000 dinars even without sufficient funds under specific conditions, and standardizes rejection procedures for formal defects versus fund-related issues. It further enforces provisional legal and judicial prohibitions on holding or using check forms, mandates electronic platform integration for real-time balance reservations, and imposes penalties for non-compliance with notification and record-keeping requirements.
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