Regulatory Alerts2018-04-05
Central Bank of Tunisia Circular to Banks No. 03 of 2018 on Opening Special Electoral Campaign Bank Accounts for the 2018 Municipal Elections
The Central Bank of Tunisia issued Circular No. 03 of 2018 to mandate the opening and management of single special electoral campaign bank accounts for candidate lists participating in the 2018 municipal elections. The regulation specifies funding sources, including Tunisian natural persons and state grants while excluding foreign nationals and legal entities, and requires banks to verify account uniqueness, declare openings, submit interim and final statements in paper and Excel formats, and retain all related records for ten years. Furthermore, banks must designate a qualified correspondent to oversee compliance, provide debit cards and checkbooks within available balances, and recover unused financial instruments upon account closure.
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