Regulatory Alerts2020-06-30
Circular to Approved Intermediaries No. 2020-16 of June 30, 2020
The Governor of the Central Bank of Tunisia issued Circular No. 2020-16 to authorize Approved Intermediaries to process tuition-related stay cost transfers for students abroad during July and August 2020. This measure, effective from July 1, 2020, applies exclusively to students residing overseas during those months and permits such transfers despite contrary provisions in Circular No. 93-10. Intermediaries must execute these transfers for clients under their jurisdiction and report them to the Central Bank using the standard information forms.
CIRCULAR TO APPROVED INTERMEDIARIES No. 2020-16 dated June 30, 2020
Subject: Transfers for stay costs related to tuition fees in favor of students abroad.
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 legislation governing foreign exchange and external trade regulating relations between Tunisia and foreign countries, as amended by subsequent texts and notably the decree-law No. 2011-98 of October 24, 2011, 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 the Foreign Exchange and External Trade Code, as amended and supplemented by subsequent texts and notably Government Decree No. 2019-1115 of December 3, 2019, Having regard to the Central Bank of Tunisia Circular No. 93-10 of September 8, 1993 regarding transfers for tuition fees in favor of students abroad, as amended by subsequent texts, Having regard to Circular No. 97-02 of January 24, 1997 regarding information forms, Having regard to the opinion of the Compliance Control Committee No. 2020-16 of June 26, 2020.
Decides: Article 1. Within the framework of supporting students abroad to cope with the impacts of the COVID-19 pandemic and notwithstanding any contrary provisions provided by the aforementioned Central Bank of Tunisia Circular No. 93-10, Approved Intermediaries must, upon the request of the beneficiary, process transfers for stay costs related to tuition fees for the months of July and August 2020, within the framework of files under their jurisdiction in accordance with the provisions of the aforementioned circular. Transfers under this provision may only be processed during the two concerned months. This measure exclusively concerns students residing abroad during the months of July and August 2020. Article 2. Approved Intermediaries shall inform the Central Bank of Tunisia about the transfers they process under this circular, in accordance with the procedures set forth by Circular to Approved Intermediaries No. 97-02 of January 24, 1997 regarding information forms. Article 3. This circular enters into force as of July 1, 2020. The Governor, Marouane EL ABASSI