Regulatory Alerts2016-07-11
Law No. 2016-48 of July 11, 2016
The Tunisian Assembly of People's Representatives enacted Law No. 2016-48 to regulate banking operations, supervision, and the licensing framework for banks and financial institutions operating in Tunisia. The legislation defines core banking activities—including public deposits, credit granting, leasing, factoring, Islamic finance, and payment services—while establishing distinct categories for standard banks, financial institutions, investment banks, and payment establishments. It mandates prior approval from a newly created Approval Commission based on the Central Bank of Tunisia's assessment, detailing capital requirements, governance standards, shareholder qualifications, and specific operational rules for Islamic banking and foreign exchange.