Circular to Authorized Intermediaries No. 2025-13 of October 27, 2025

Tunis, October 27, 2025 CIRCULAR TO AUTHORIZED INTERMEDIARIES No. 2025-13 Subject: Financial settlement of imports and exports of goods.

The Governor of the Central Bank of Tunisia, Having regard to the Foreign Exchange and External Trade Code promulgated by Law No. 76-18 of January 21, 1976, consolidating and codifying the foreign exchange and external trade legislation governing relations between Tunisia and foreign countries, as amended and supplemented by subsequent texts, particularly Legislative Decree No. 2011-98 of October 24, 2011, Having regard to Law No. 94-41 of March 7, 1994 on external trade, as amended by Law No. 99-9 of February 13, 1999, Having regard to Law No. 2016-35 of April 25, 2016 establishing the status of the Central Bank of Tunisia, Having regard to Decree No. 77-608 of July 27, 1977 setting the implementation conditions for Law No. 76-18 of January 21, 1976 cited above, as amended and supplemented by subsequent texts, particularly Governmental Decree No. 2017-393 of March 28, 2017, Having regard to Decree No. 94-1743 of August 29, 1994 setting the procedures for carrying out external trade operations, as amended and supplemented by subsequent texts, particularly Decree No. 2014-3487 of September 18, 2014, Having regard to Circular to Authorized Intermediaries No. 91-7 of April 24, 1991 on the clearance and monitoring of settlement dossiers related to external trade operations, Having regard to Circular to Authorized Intermediaries No. 94-14 of September 14, 1994 on the financial settlement of imports and exports of goods, as amended by subsequent texts, particularly Circular No. 2020-02 of February 4, 2020, Having regard to Circular to Authorized Intermediaries No. 2002-08 of June 21, 2002 on the use of the integrated automated system for processing external trade operations, as amended by Circular No. 2014-11 of October 16, 2014, Having regard to Circular to Authorized Intermediaries No. 2010-04 of February 16, 2010 on customs clearance via the integrated automated system for external trade formalities, Having regard to Opinion No. 2025-13 of the Compliance Control Committee dated October 24, 2025, as provided for in Article 42 of Law No. 2016-35 cited above, particularly its second paragraph regarding circulars of an urgent nature.

Decides: Article 1 - The provisions of Article 10, the first paragraph of Article 11, and Article 12 of Circular No. 94-14 of September 14, 1994, on the financial settlement of imports and exports of goods are repealed and replaced as follows:

"Article 10 (new): Sale prices may be settled by any means of payment, when the related contracts provide for settlement periods up to 120 days from the date of shipment of goods."

"Article 11: First paragraph (new): Sales for which the related contracts provide for settlement periods ranging from 121 days up to 360 days, calculated from the date of shipment of goods, are carried out freely when they meet one of the following conditions:

• They are accompanied by a payment guarantee issued by a non-resident bank.
• They provide for the opening in favor of the resident exporter of an irrevocable documentary credit or a stand-by letter of credit.
• They provide for payment by a bill of exchange drawn in the name of the authorized intermediary or endorsed to its benefit and guaranteed (avalized) by a non-resident bank.
• They are covered by an export credit insurance policy."

"Article 12 (new): Sales for which the related contracts provide for settlement periods ranging from 121 days up to 360 days from the date of shipment of goods, and which do not meet one of the conditions set forth in the first paragraph of Article 11 of this circular, as well as sales providing for settlement periods exceeding 360 days, are subject to the prior authorization of the Central Bank of Tunisia."

Article 2 - This circular enters into force as of the date of its publication. The Governor, Fethi Zouhaier NOURI