Central Bank of Tunisia Circular No. 2019-10 to Banks dated October 14, 2019

Tunis, October 14, 2019
CIRCULAR TO BANKS NO. 2019-10
SUBJECT: Revision of the maturities of campaign credits granted to the olive oil sector.
The Governor of the Central Bank of Tunisia,
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 Circular No. 87-47 of December 23, 1987 on the procedures for granting, monitoring, and refinancing credits, as amended by subsequent texts; Having regard to the opinion of the Compliance Control Committee No. 2019-11 dated October 11, 2019, as provided for in Article 42 of Law No. 2016-35, particularly its second paragraph regarding circulars with an urgent character. Decides:
Article 1: The provisions of the third paragraph of Article 6 of the aforementioned Circular No. 87-47 are repealed and replaced as follows:
Article 6 (new third paragraph): The maturity of this credit is set at June 30 of each year.

Article 2: The December 31 maturity for seasonal olive tree crop credits stipulated in items 1 and 2 of paragraph "c" of Annex I to the aforementioned Circular No. 87-47 on the schedules and maturities of seasonal crop credits is replaced by that of March 31.
Article 3: The March 31 maturity for olive oil campaign credits stipulated in the fifth item of the first paragraph of Annex 2 to the aforementioned Circular No. 87-47 on the campaign periods and maturities of campaign credits is replaced by that of June 30.
THE GOVERNOR
Marouane EL ABBASSI