Circular of the Central Bank of Tunisia to Banks and the National Office of Posts No. 4 of 2019 dated 7 August 2019

Tunis, 7 August 2019
Circular to Banks and the National Office of Posts No. 4 of 2019 Subject: Special Accounts for the Election Campaign in Favor of Candidates in the Presidential Elections.

The Governor of the Central Bank of Tunisia,
Having examined Basic Law No. 92 of 2019 dated 7 December 2019 concerning the Independent High Authority for Elections and all subsequent amending and supplementary texts; Having examined Basic Law No. 11 of 2014 dated 31 May 2014 concerning Elections and Referendums as amended and supplemented by Basic Law No. 10 of 2014 dated 12 February 2014; Having examined Law No. 23 of 2011 dated 23 April 2011 concerning the organization of the Central Bank of Tunisia; Having examined Law No. 24 of 2011 dated 11 July 2011 concerning Banks and Financial Institutions; Having examined Decision No. 97 of 2014 dated 4 August 2014 concerning the regulation of campaign financing rules, procedures, and methods as amended and supplemented by Decision No. 10 of 2014 dated 2 October 2014; Having examined BCT Circular No. 12 of 2014 dated 4 October 2014 concerning the opening of special bank accounts for election campaigns in favor of presidential candidates as amended by Circular No. 13 of 2014 dated 12 November 2014; Having examined the Compliance Committee Opinion No. 04 of 2014 dated 3 August 2014, as stipulated in Article 29 of Law No. 23 of 2011; Has decided the following:

Article 1: Banks and the National Office of Posts must open a single special campaign account for each presidential candidate. The account shall be opened by the candidate or any other person authorized by a specific power of attorney, identified and signed. The account shall be opened at the bank branch or post office chosen by the relevant candidate or their proxy. The candidate's financial agent shall manage, operate, and close this single special campaign account in accordance with prevailing regulations.
Banks and the National Office of Posts are prohibited from opening more than one special campaign account for each candidate.

Article 2: Banks and the National Office of Posts must, prior to opening a special campaign account, verify via the Central Bank of Tunisia's data exchange system that no existing special campaign account exists under the candidate's name.

Article 3: The special campaign account shall be opened in accordance with prevailing regulations and based on the following documents:

• Original or a certified copy of the Independent High Authority for Elections' decision accepting the candidacy.
• A copy of the official document proving the candidate's identity.
• Original or a certified copy of the candidate's decision appointing the financial agent.
• A copy of the official document proving the financial agent's identity.
• Original or a certified copy of the power of attorney for opening the special campaign account on behalf of the candidate (if opened by a proxy).
• A copy of the official document proving the identity of the proxy responsible for opening the special campaign account on behalf of the candidate (if opened by a proxy).
• A certificate confirming no prohibition on issuing and using checks in the name of the financial agent, issued by the Central Bank of Tunisia within the seven days preceding the account opening.

Article 4: The special campaign account shall be funded exclusively by the following sources:

1. Dinar transfers originating from:
   • The candidate's internal accounts, as self-financing.
   • Internal accounts of Tunisian natural persons residing in Tunisia, as private financing for the candidate's campaign.
   • The state budget allocated to the candidate, as a public grant related to the recovery of election expenses.
2. Financial amounts deposited by the candidate's financial agent in cash or via checks, as self-financing or private financing. In this case, the deposit slip must clearly state on its reverse side the full identity of the financial agent (first name, last name, national ID number, and issue date) along with their signature.
   Funding from Tunisians residing abroad to candidates is prohibited, whether for self-financing or private financing.
   The acceptance of transfers from legal entities of all kinds, including political parties and foreign natural persons (even if residing in Tunisia or with Tunisian income sources under tax legislation), is also prohibited.

Article 5: No overdraft credit or advances of any kind may be granted to the special campaign account or to the candidate holding the account.
The bank branch or post office where the special campaign account is opened must provide the candidate's financial agent with a sufficient number of checkbooks within a maximum period of three working days from the date of submitting a written request, and a single debit card limited to the available balance in the account.

Article 6: Banks and the National Office of Posts must declare to the Central Bank of Tunisia, without delay, every opening of a special campaign account as stipulated in Article 1, via the Central Bank of Tunisia's data exchange system.

Article 7: Banks and the National Office of Posts must initially provide the Central Bank of Tunisia with interim statements for special campaign accounts for presidential elections, from their opening until the end of the election campaign, within a maximum period of 13 days following the campaign's conclusion. In the second stage, they must provide final statements for those accounts from their opening until closure, within a maximum period of 13 days following closure. The statements must be submitted to the Central Bank of Tunisia on paper, signed and stamped by an authorized representative of the bank or National Office of Posts, and via the data exchange system in Excel format.
Upon closing the account, banks and the National Office of Posts must retrieve unused debit cards and checkbooks from the candidate's financial agent, taking necessary measures to complete ongoing transactions on said account.

Article 8: Banks and the National Office of Posts must designate a liaison officer for the Central Bank of Tunisia from among their management staff (manager rank or above), responsible for overseeing the implementation of obligations under this Circular, particularly resolving any difficulties arising during the opening and management of special campaign accounts for presidential elections, and collecting required data from bank branches and post offices to submit it to the Central Bank of Tunisia within specified deadlines. A deputy liaison officer meeting the same qualifications must be appointed.
Banks and the National Office of Posts must notify the Central Bank of Tunisia, without delay, of the full name, phone number, and email address of the liaison officer and their deputy by any means leaving a written record.

Article 9: Banks and the National Office of Posts must retain files for special campaign accounts in favor of presidential candidates, along with all documents related to their opening, management, and closure, as well as supporting documents for transactions conducted through them, for a period of ten years from the date of closure.

Article 10: Provisions contrary to or overlapping with this Circular are repealed. This Circular enters into force from the date of its notification.

The Governor,
Marouane Abassi