Regulatory Alerts2020-03-19
Central Bank of Tunisia Circular No. 2020-05 of March 19, 2020
The Central Bank of Tunisia issued Circular No. 2020-05 to limit the spread of Covid-19 by mandating free interbank ATM withdrawals, suspending electronic payment commissions for transactions up to 100 dinars, and requiring free issuance of standard and prepaid bank cards upon request. Banks and the National Office of Posts must ensure continuous ATM funding, platform availability, and prompt resolution of technical interruptions to maintain service continuity. These exceptional pricing measures take effect upon publication but must be fully implemented by March 27, 2020.
Central Bank of Tunisia Circular No. 2020-05 dated March 19, 2020 Subject: Measures regarding the pricing and continuity of certain banking services.
The Governor of the Central Bank of Tunisia, Having regard to Law No. 2016-35 of April 25, 2016 on the status of the Central Bank of Tunisia and in particular Article 8 thereof, Having regard to Law No. 2016-48 of July 11, 2016 on banks and financial institutions and in particular Article 84 thereof, Having regard to Circular No. 91-22 of December 17, 1991 to banks on the regulation of banking conditions, as amended by subsequent texts, Having regard to the opinion of the Compliance Control Committee No. 2020-05 of March 19, 2020, Decides:
Article 1 - This circular aims to strengthen national efforts to limit the spread of the Covid-19 virus, through the adaptation of banking services to the current climate requiring the encouragement of remote operations and a reduction in visits to branches.
Article 2 - Regardless of any contrary regulatory provisions applicable to the pricing of banking services, banks must:
- offer free interbank cash withdrawal services from Automated Teller Machines (ATMs);
- suspend, for any transaction not exceeding one hundred (100) dinars, the collection of any commission applied to acquirers and merchants for electronic payment services;
- issue, free of charge, a bank card to any account holder who requests it;
- take the necessary measures to issue, free of charge, a prepaid bank card to any person who requests it.
Article 3 - Banks and the National Office of Posts must scrupulously ensure the continuity of cash withdrawal and electronic payment services. To this end, they must in particular ensure the continuous supply of ATMs, maintain the permanent availability of electronic payment technical platforms, and take all necessary measures to resolve any breakdowns or interruptions as quickly as possible and handle customer complaints with due diligence.
Article 4 - The pricing measures provided for in Article 2 of this circular are of an exceptional and provisional nature.
Article 5 - This circular enters into force as from the date of its publication. However, where technical prerequisites are necessary to comply with the pricing measures provided for in Article 2 of this circular, the application of these measures must in all cases not exceed March 27, 2020.
The Governor, Marouane EL ABASSI