Regulatory Alerts2025-02-24
Circular to Approved Intermediaries No. 2025-05 of February 24, 2025
The Governor of the Central Bank of Tunisia, through Circular No. 2025-05 dated February 24, 2025, authorizes approved intermediaries to issue tourist allocations in Saudi Riyal banknotes at dedicated counters starting February 25, 2025, to facilitate pilgrimages for the 1446 Hijri campaign. The circular extends the validity period for foreign currency export authorizations to a maximum of four months from issuance and permits intermediaries to fund these allocations using available balances or direct supplies from central bank branches. Furthermore, it mandates that intermediaries submit daily duplicate reports using a standardized annex model to track tourist allocation disbursements throughout the 2025 pilgrimage season.
Tunis, February 24, 2025 CIRCULAR TO APPROVED INTERMEDIARIES No. 2025-05 Subject: Tourist allocation for the pilgrimage campaign of the year 1446 Hijri corresponding to the year 2025. ---***--- The Governor of the Central Bank of Tunisia, Having regard to the Exchange and Foreign Trade Code promulgated by Law No. 76-18 of January 21, 1976, as amended by subsequent texts and notably Law No. 93-48 of May 3, 1993, Having regard to Law No. 2016-35 of April 25, 2016, establishing the status of the Central Bank of Tunisia, Having regard to Law No. 2016-48 of July 11, 2016, on banks and financial institutions, Having regard to Decree No. 77-608 of July 27, 1977, setting the conditions for applying the Exchange and Foreign Trade Code, as amended by subsequent texts and notably Decree No. 2017-393 of March 28, 2017, Having regard to Circular to Approved Intermediaries No. 2007-04 of February 9, 2007, on the tourist allocation, as amended by subsequent texts and notably Circular No. 2016-10 of December 30, 2016, Having regard to Circular to Approved Intermediaries No. 2016-10 of December 30, 2016, on the authorization for exporting foreign currency banknotes and by checks, Having regard to Opinion No. 5 of the Compliance Control Committee dated February 24, 2025, as provided for in Article 42 of Law No. 2016-35 of April 25, 2016 establishing the status of the Central Bank of Tunisia and notably its second paragraph concerning circulars with an urgent character, Decides:
ARTICLE 1 - The issuance of the tourist allocation for the year 2025 may be carried out at single counters that are open starting February 25, 2025, for the purpose of organizing pilgrimages. Approved Intermediaries shall use their available balances and obtain supplies of Saudi Riyal banknotes from the branches of the Central Bank of Tunisia for issuing tourist allocations to pilgrims. The selling exchange rates for currencies under the tourist allocation are those set by each Approved Intermediary and must be displayed to the public in a legible manner.
ARTICLE 2 - By way of derogation from the provisions of Article 5 of the aforementioned Circular No. 2016-10 of December 30, 2016, the authorization for exporting foreign currency banknotes under the tourist allocation remains valid for a maximum of four months from the date of its issuance to pilgrims registered on official lists and to members of the designated official Tunisian mission accompanying them.
ARTICLE 3 - Without prejudice to the provisions of Article 27 of Circular No. 2007-4 of February 9, 2007 on the tourist allocation, Approved Intermediaries must submit to the Central Bank of Tunisia daily and in duplicate a report prepared according to the model set out in the annex to this circular, regarding the issuance of tourist allocations for the 2025 pilgrimage campaign.
THE GOVERNOR Fethi Zouhaier NOURI
Annex to Circular to Approved Intermediaries No. 2025-05 of February 24, 2025 Pilgrimage Campaign of the year 1446 Hijri / 2025. Report on the issuance of tourist allocations for the day……………….. Currency Center Number of beneficiaries Amount Exchange rate applied on,………………………………………… Authorized seal and signature of the Approved Intermediary