Circular to Banks and Financial Institutions No. 2020-19 of October 5, 2020

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Tunis, October 5, 2020
CIRCULAR TO BANKS AND FINANCIAL INSTITUTIONS No. 2020-19 Subject: Exceptional support measures for businesses and professionals operating in the tourism and craft sectors.

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 Government Decree-Law No. 2020-19 of May 15, 2020, establishing special provisions regarding the repayment of loans and financing granted by banks and financial institutions to their clients, Having regard to Central Bank of Tunisia Circular No. 87-47 of December 23, 1987, on the procedures for granting, monitoring, and refinancing of loans, as amended and supplemented by subsequent texts, Having regard to Central Bank of Tunisia Circular No. 91-24 of December 17, 1991, on risk division, coverage, and monitoring of commitments, as amended and supplemented by subsequent texts,

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Having regard to Central Bank of Tunisia Circular No. 2018-10 of November 1, 2018 on the "Loans/Deposits" ratio, as amended and supplemented by subsequent texts, Having regard to Central Bank of Tunisia Circular No. 2020-06 of March 19, 2020, on exceptional support measures for businesses and professionals, as amended and supplemented by Central Bank of Tunisia Circular No. 2020-07 of March 25, 2020, Having regard to Central Bank of Tunisia Circular No. 2020-12 of May 28, 2020, on exceptional financing support for businesses and professionals to address the impacts of the COVID-19 pandemic, Having regard to the deliberations of the Board of Directors of the Central Bank of Tunisia on September 30, 2020, Having regard to the opinion of the compliance control committee No. 2020-19 of October 1, 2020 as provided for in Article 42 of Law No. 2016-35, and notably its second paragraph regarding circulars of an urgent nature.

Decides:
Article 1 - The deferral period provided for in the first paragraph of Article 1 of Central Bank of Tunisia Circular No. 2020-06 is extended until the end of September 2021, for loan maturities granted to businesses and professionals operating in the tourism and craft sectors, including tourist management companies.
Article 2 - The maximum deadline for granting exceptional financing provided for in the first article of Central Bank of Tunisia Circular No. 2020-12 is extended until the end of March 2021, for businesses and professionals operating in the tourism and craft sectors, including tourist management companies.
Said loans are eligible as collateral for refinancing operations on the money market in accordance with the provisions of Article 2 of Central Bank of Tunisia Circular No. 2020-12.
Article 3 - This circular takes effect from the date of its publication.

The Governor,
Marouane EL ABASSI