Regulatory Alerts2023-12-01
Circular to Banks and the National Office of Posts No. 2023-07 dated December 1, 2023
The Central Bank of Tunisia issued Circular No. 2023-07 on December 1, 2023, mandating that banks and the National Office of Posts open a single special election campaign account for each local council candidate between December 1 and December 22, 2023. The circular stipulates that accounts must be funded exclusively by domestic dinar transfers and cash/check deposits from Tunisian natural persons, explicitly prohibiting funds from legal entities and foreign nationals, while requiring automatic closure by April 30, 2024, or within 15 days of final results. Furthermore, financial institutions must verify account uniqueness via the central bank's data system, submit interim and final statements in paper and Excel formats within 15-day deadlines, retain all supporting documentation for ten years, and appoint a director-level liaison officer to ensure compliance.