CIRCULAR TO BANKS No. 87-47 OF 23 DECEMBER 19871 SUBJECT: Procedures for granting, monitoring and refinancing of credits. TITLE ONE PRELIMINARY PROVISIONS Article 1: Short, medium and long-term credits are no longer subject to the formalities of prior authorization and refinancing agreement. Article 2: Banks must comply with the credit granting standards set by this circular.2 They must also ensure that the facilities granted are best suited in form, volume and duration to the real needs of the clientele. Article 2bis: Repealed by circular No. 2007-25 of 19/11/2007 Article 3: The Central Bank of Tunisia monitors the credits granted by banks in accordance with the procedures set out in Title 3.2 1 As amended, supplemented and specified by circulars No. 87-50 of 13/12/87, 88-03 of 21/01/88; 88-06 of 24/02/88; 88-08 of 25/04/88; 88-09 of 12/05/88; 88-24 of 12/09/88; 89-13 of 17/05/89; 91-12 of 24/06/91; 93-01 of 6/01/93; 95-01 of 4/01/95; 95-04 of 04/01/95; 95-14 of 30/05/95, 96-01 of 15/02/96, 96-08 of 2/9/96, 96-09 of 04/09/96, 96-10 of 23/09/96; 96-13 of 11/10/96, 96-15 of 29/11/96, 96-17 of 19/12/96, 97-06 of 10/4/97, 97-10 of 05/08/97, 98-10 of 14/09/98, 99-02 of 26/01/99, 99-06 of 21/04/99, 99-10 of 08/06/99, 99-11 of 02/08/99, 99-17 of 11/11/99, 2000-07 of 09/06/2000, 2002-11 of 04/07/2002, 2002-13 of 28/11/2002, 2003-01 of 03/02-2003, 2003-03 of 28/02/2003, 2003-07 of 18/06/2003, 2003-12 of 15/10/2003, 2004-10 of 31/12/2004, 2005-09 of 14/07/2005, 2005-16 of 21/09/2005, 2005-17 of 30/09/2005, 2006-03 of 09/05/2006, 2006-10 of 15/09/2006, 2007-22 of 09/10/2007, 2007-25 of 19/11/2007, 2008-19 of 19/09/2008, 2003-09 of 11/07/2003, 2009-05 of 09/02/2009 and 2012-17 of 04/10/2012 and notes to banks No. 89-01 of 06/01/1989, 89-05 of 27/01/1989, 90-43 of 16/10/19990, 90-54 of 18/12/1990, 90-55 of 24/12/1990, 91-12 of 01/04/1991, 91-43 of 26/11/1991, 91-44 of 26/11/1991, 92-34 of 14/10/1992, 93-09 of 26//03/1993, 96-04 of 15/02/1996, 97-14 of 18/03/1997, 98-04 of 05/02/1998 and 2008-09 of 19/03/2008. 2 As amended by circular No. 2007-25 of 19/11/2007 TITLE 2 CREDIT GRANTING STANDARDS FOR ENTERPRISES AND PROFESSIONALS2 CHAPTER ONE SHORT-TERM CREDITS Article 4: Seasonal crop credits. These credits are granted to operators in the agricultural and fishing sector to cover part of the expenses to be incurred during a campaign. The amount of the credit is equal to the number of units to be operated (ha, plant, head, boat) multiplied by the unit financing quota. The unit financing quota as well as the maturity of the credit are set for each speculation by the scale of crop credits in Annex I. (New paragraph 4)3: Complementary crop credits may be granted by banks to cereal growers whenever climatic conditions justify additional fertilization and weeding. The campaigns for which complementary crop credits may be granted, the amount of the credit as well as the maturity are set by note to banks4. Article 5: Campaign credits. These facilities are intended to
finance the purchase of agricultural and fishery products for their processing, packaging or disposal as is. The amount of the credit is equal to: - 50% of purchase forecasts for alfa, - 80% of cultivation expenses for the production of seedlings, - one month of purchase forecasts for all other products calculated on the basis of the reference prices in Annex III. These credits mature at the end of the campaigns whose durations are set in Annex II. 3 As added by circular No. 96-01 of 15/02/1996 4 Note to banks 96-04 of 15/02/1996, as amended by notes to banks No. 97-14 of 18/03/1997, No. 98-04 of 05/02/1998, No. 99-04 of 26/01/1999, No. 2001-03 of 01/02/2001, No. 2007-07 of 30/03/2007 and No. 2008-09 of 19/03/2008.

Article 6: Start-up credits "olive oil".

These facilities are granted to olive oil producers to cover manufacturing costs and payment for oils purchased from producers while awaiting the formation of piles by the O.N.H.

The amount of the credit is limited to the financing of quantities of oils equivalent to the storage capacity of the oil mill without exceeding 15% of the crushing forecasts. It is calculated on the basis of the reference prices in Annex III.

The maturity of this credit is set at 31 March of each year.

Article 7: Advances on merchandise.

These credits are granted to cover the cash flow needs of enterprises arising from holding stocks of agricultural products in their natural state, packaged or processed, while awaiting their gradual disposal.

The amount of the credit is equal to:

• 80% of the value of the peak stock arising from the forecast stock variation statement for canned food, dates, almonds, sea products, olive oils held by collectors and olive pomace oils;

• 100% of the value of the peak stock of olive oils held by the ONH;

• 100% of the value of the forecast collection for cereals, pulses and wines.

The calculation of the amount of the credit as well as the valuation of the stock are made on the basis of the reference prices in Annex III.

Article 7 bis5: Credits financing the acquisition, transport and storage of dry fodder and bran pellets.

These credits are granted to professional agricultural structures, agricultural service companies, agricultural development and promotion companies, and farmers and traders in the form of advances on merchandise to finance a stock of dry fodder and bran pellets.

This financing covers 80% of the value of the peak stock of dry fodder and bran pellets arising from the projected stock variation statement and shall be amortized progressively according to the pace of sales and within a period not exceeding one year from the date of release of the credit.

[5] Added by circular No. 2003-09 of 11/.07/03.

Article 8: Stock financing credit.

This form of financing is intended to finance a stock of raw materials, consumable materials and, where applicable, semi-finished or finished products constituted by industrial enterprises. The amount of the credit must be around three months of consumed needs and take into account other sources of financing, in particular supplier credits.

This financing may also be granted to any beneficiary of an approval letter for holding safety stocks. The amount of the credit shall in this case be equal to the amount stated in the approval letter.

Article 9: Export prefinancing credit.

This financing is intended to cover the needs occasioned by the preparation of a merchant stock intended for export or the performance of services abroad.

The amount of the credit is set at:

• 30% of the projected exports of the year concerned; this quota may, however, be exceeded whenever one-off operations requiring additional needs are involved,

• 100% of the carry-over stock for olive oils,

• 100% of the carry-over stock committed to export for wines,

• 80% of the quantities committed to export for dates,

• 60 days of projected exports for citrus fruits.

The projections must be justified by previous achievements and/or contracts obtained. Moreover, the calculation of the amounts of prefinancing credits for exports of agricultural and agri-food products is done on the basis of the reference prices set out in Annex III.

Article 10: Commercial discount on foreign transactions and mobilization of receivables arising abroad.

This credit is intended to mobilize receivables arising abroad.

The amount of this financing is determined on the basis of export turnover and the payment period granted, provided that the usance of the drawings does not exceed 360 days.6

[6] As amended by circular No. 2009-05 of 09/02/2009

Article 11: Prefinancing of public contracts.

This form of financing is intended to meet the expenses occasioned by the start-up work of contracts concluded with the Administration.

The amount of the credit granted must not exceed 10% of the amount of new contracts, after deduction of advances from the Administration.

Repayment of this credit shall be made by deducting at least 10% from the settlement of each statement of services performed.

Article 12: Advances on administrative receivables

This financing is intended to finance receivables arising on the Administration.

The amount of the credit must not exceed 80% of the amount of the duly established receivable.

Article 13: Commercial discount on Tunisia.

This financing is intended to mobilize credit sales of products intended to be resold as is or after processing.

The amount of this financing is determined on the basis of credit turnover and the payment period granted, provided that the usance of the drawings does not exceed 3 months.

Article 14: Non-mobilizable credit

This form of financing is intended to meet temporary cash needs arising from timing differences between revenue and expenditure flows.

The amount of this credit is generally between 15 days and one month of turnover.

Article 14 bis:

Repealed by circular No. 2007-25 of 19/11/2007

CHAPTER 2 MEDIUM AND LONG-TERM CREDITS

A) Medium-term credits:

Article 15: Medium-term credits are generally granted for the financing of investments; their duration is set at a maximum of 7 years.

Article 16: Medium-term investment credit

The medium-term investment credit is intended to complete the financing of creation or expansion projects as well as the renewal of equipment in the sectors and under the conditions set out in Article 18 below.

For the determination of the amount of the credit, the banks shall ensure that:

• the areas of land and civil engineering correspond to the real needs of the project and their value is in line with the prices practiced by the Agency for the Promotion of Industry in comparable zones,

• the choice of equipment is made on the basis of compared offers,

• transport equipment is limited to the requirements of the operation of the enterprise,

• the level of approach and miscellaneous expenses is in line with the size of the project, its location and the timeframes for its completion. These approach expenses consist essentially of taxes and customs duties, interim interest, preliminary establishment expenses, pre-start-up operating expenses, training, assembly, engineering, insurance, license and know-how,

• the contributions in kind taken into consideration correspond only to the part essential for the completion of the project.

Article 17: For projects benefiting from tax and financial advantages, the amount of each investment item to be taken into consideration is that set by the decision of advantages or approval issued by the API, the APIA or the SCAT.

Article 18 (new)7: The amount of the medium-term credit must not exceed:

a) the quotas set in the financing plan approved by the committees for the granting of advantages, for investments in the agricultural and fishing, industrial, tourism and services sectors,

b) 70% of the project cost, including working capital, for investments in the above-mentioned sectors that have not benefited from a decision granting advantages, namely investments:

• agricultural and fishing covered by Annex IV attached hereto,

• in the manufacturing industry,

• for upgrading,

• in the mining sector,

• energy saving and the use of new energies,

• environmental protection, and

• in the tourism sector and in the other service activities as fixed by Decree No. 94-492 of 28 February 1994 fixing the lists of activities falling within the sectors provided for by Articles 1, 2, 3 and 27 of the Investment Incentives Code.

The working capital must not exceed 10% of the amount of the investment.

[7] As amended by Circular 96-13 of 11/10/1996

7

Article 18 bis: Medium-term credit financing privatization.

This credit is intended to finance the purchase of a controlling block or of assets of a public enterprise within the framework of the privatization program and is granted directly to the purchasers.

The credit, the amount of which must not exceed 70% of the cost of the operation, must be repaid from the purchasers' own income and not by the privatized enterprise.

Article 19: Medium-term credits for consolidation, rehabilitation and restructuring.

These credits are intended:

• for the consolidation of short-term credits in order to restore the balance of the financial structure in accordance with the provisions of Article 18 above.

• for the restructuring of the production apparatus, in particular by acquiring new technologies so as to improve productivity, quality and competitiveness.

• to facilitate the takeover and revival of enterprises in difficulty.

Article 20 (new) 8: Medium-term export credits.

This facility is intended to finance receivables arising abroad whose settlement periods are greater than one year and which result from export operations authorized within the framework of Circular No. 86-12 of 5 May 1986 relating to the financial settlement of exports and the repatriation of their proceeds.

The amount of the credit must generally correspond to the integrated portion of the exported product. However, this amount may be increased by the bank where this proves necessary for the completion of the export operation.

Article 21: Medium-term credit for the production of seedlings.

This form of facility is intended to finance the production of seedlings by nursery growers.

This credit, the amount of which is set at 80% of the production cost of the seedlings to be produced, is granted for a maximum duration of two years.

Article 21 bis: Medium-term credit financing the multiplication of potato seeds.

This facility is intended to finance the multiplication of potato seeds and covers 80% of the cultivation costs relating to the four phases of seed multiplication, each spanning one year, including 6 months of multiplication and 6 months of conservation.

The credit, the duration of which is set at 4 years, must be released in 8 tranches, namely on 1 January and 30 June of each year, and its repayment shall be made in a single installment at the end of the production cycle.

Article 22: Medium-term credit for the acquisition of agricultural equipment.

These credits may be granted to any enterprise approved for the marketing of new agricultural equipment.

The credit line is set according to the volume of credit sales and the settlement period granted to agricultural operators.

The quota is limited to 80% of the forecasts of credit sales to agricultural operators.

The beneficiaries of these credits must pass on to agricultural operators the rate and duration conditions applied to them by the banks.

Article 23 (new)10: Medium-term credit for the repair of agricultural and fishing equipment.

These credits are intended to finance the expenses for the repair and overhaul of agricultural and fishing equipment such as tractors, combine harvesters, straw presses, fishing gear, hulls, etc.

The expenses eligible for this form of facility are capped at 50% of the value of new equipment at the time of its repair.

The quota of the credit, the duration of which must not exceed 3 years, is limited to 70% of the cost of the repairs.

Article 23 bis (new)11: Medium-term credit financing the acquisition and rearing of breed heifers born in Tunisia.

This facility is intended to finance the acquisition and rearing of breed heifers born in Tunisia and covers 80% of the cost of acquiring the heifer and the rearing expenses.

The credit, the duration of which is set at 27 months, must be released in accordance with the scale appearing in Annex IV bis attached hereto and repaid in a single installment.

[7] Thus added by Circular 96-13 of 11/10/1996

[8] Thus amended by Circular No. 88-24 of 12/09/1988

9

[9] Thus added by Circular No. 96-09 of 04/09/1996 10 Thus amended by Circular No. 89-13 of 17/05/1989

[10] 11 Thus added by Circular No. 91-12 of 24/06/1991 amended by

[11] Circular No. 95-04 of 11/01/1995 and No. 99-02 of 26/01/1999

Article 24: Medium-term credit for production.

These facilities are intended to finance the credit sale of capital goods or services to investors.

However, for solar water heaters and pumping wind turbines, the final purchaser may be any natural or legal person.

The amount of the credit is set according to the volume of credit sales and the settlement period granted to final purchasers.

The credit quota is limited to 80% of the amount of credit sales.

For solar water heaters and pumping wind turbines, this quota is increased to 90% of the total amount of the equipment and installation costs.

The beneficiaries of these credits must pass on to final purchasers the rate and duration conditions applied to them by the banks.

The list of goods or services eligible for financing is set out in Annex V.

Article 25: Medium-term credits for the acquisition of transport equipment.

These credits are intended to finance the acquisition of new vehicles for use as taxis, for hire or as driving school vehicles.

They may also finance the acquisition by agricultural operators of new motorized vehicles.

The amount of the credit is limited to 80% of the acquisition price of the vehicle, all other costs excluded.

The duration of the credit must be compatible with the service life of the vehicle without exceeding 5 years.

Article 25 bis12: Medium-term credits financing rural public transport.

These credits are intended to finance the acquisition of new vehicles for rural public transport by persons authorized by the competent authorities to carry out this activity.

The amount of the credit is limited to 80% of the purchase price of the vehicle, all other costs excluded.

The duration of the credit must be compatible with the service life of the vehicle without exceeding 7 years.

Article 26 (new)13: Medium-term credits financing investments in crafts, small businesses and small trades.

These credits are intended to finance projects of small businesses and small trades whose cost does not exceed 100.000 dinars, including working capital, and benefiting from the provisions of the agreements concluded between the State and the banks relating to the granting and management of the aid granted from the National Fund for the Promotion of Crafts and Small Trades (FONAPRA).

The list of activities eligible for this form of assistance is set out in Annex VI.

The credits may finance up to a maximum of 60% of the investment cost, including working capital. The remainder is provided by equity, which includes the FONAPRA allocation and the personal cash contribution, which must represent:

• x for projects involving an investment of less than or equal to 10 thousand dinars: at least 10% of equity;

• x for projects involving an investment of more than 10 thousand dinars and less than or equal to 50 thousand dinars:

  • at least 10% of equity for the investment tranche equal to 10 thousand dinars;

  • at least 20% of equity for the investment tranche exceeding 10 thousand dinars and less than or equal to 50 thousand dinars.

• x for projects involving an investment of more than 50 thousand dinars:

  • at least 10% of equity for the investment tranche equal to 10 thousand dinars;

  • at least 20% of equity for the investment tranche exceeding 10 thousand dinars and less than or equal to 50 thousand dinars;

  • at least 40% of equity for the investment tranche exceeding 50 thousand dinars and less than or equal to 100 thousand dinars.

Promoters belonging to needy families registered in the national poverty register or to categories with specific needs and who cannot provide proof of the personal cash contribution required to finance their projects benefit from a repayable allocation representing 100% of equity.

The amortization schedules for these credits must provide for the payment, annually or more frequently, of amounts in respect of principal and interest calculated according to the constant annuity formula; the interest rate being the rate equivalent to the repayment period adopted.

The first installment must fall due no earlier than three months and no later than one year after the date on which the project enters operation.

[12] Thus added by circular No. 99-17 of 11/11/1999 13 Thus amended by circular No. 2008-19 of 19/09/2008

Article 26 bis 14: Upon the first release of the National Fund for the Promotion of Crafts and Small Trades assistance, the banks are required to communicate to the Central Bank of Tunisia the amortization schedules of said assistance as well as an information sheet conforming to the model set out in Annex VI bis attached hereto.

Article 27: Medium-term credit financing professional equipment.

This form of assistance is intended to finance the opening or expansion of medical, veterinary or radiology practices, pharmacies, medical analysis laboratories and accounting firms, statutory auditors, or also consulting or engineering firms.

This credit finances 60% of the investment cost, excluding goodwill and working capital. This amount is increased to 70% for credits financing investments in decentralized areas within the meaning of Decree No. 87-1287 of 17 November 1987.

Article 28: Medium-term credits financing constructions for industrial and commercial use.

These credits are intended to finance investments carried out in the context of construction for industrial and commercial use and relating to the following operations:

1°) Civil engineering and development works relating to extensions of business projects in the manufacturing industries sector, subject to the dual condition:

• that these works correspond to the real premises needs of the business; and

• that previous financing schemes did not provide for financing in respect of civil engineering and development.

2°) The construction of warehouses and storage areas by businesses in the mining, energy and manufacturing industries sectors.

These constructions must meet the specific needs of the businesses concerned and be justified by changes in the volume of activity or by the need to move closer to supply and marketing centers.

3°) The construction of warehouses and storage areas by companies in the commercial sector, by collection and marketing offices, by production, services and storage cooperatives or by any other authorized body.

The warehouses to be built must be intended for the storage of basic food products or products eligible for financing by approval letter.

[14] Thus added by circular 95-01 of 04/01/1995.

4°) The construction of warehouses and storage areas for the distribution trade of strategic products.

The amount of the credits referred to in this article is exempted within the limit of 60% of the expenses to be incurred; this rate is increased to 70% for investments made in decentralized zones within the meaning of the aforementioned decree.

Article 29: Medium-term credits financing investments in the distribution trade.

This form of facility is intended to finance investments in the distribution trade made within the framework of the creation, development and extension of multi-department stores or commercial enterprises with multiple points of sale.

This credit may finance up to a maximum of 60% of the cost of investments, excluding goodwill and working capital. This proportion is increased to 70% for credits financing investments in decentralized zones within the meaning of the aforementioned decree.

Article 30:

Thus repealed by circular No. 2007-25 of 19-11-2007

B) Long-term credits:

Article 31 (new)7: These credits, with a duration of more than 7 years and less than or equal to 15 years, are granted by deposit banks within the limit of 3% of the volume of their demand deposits, time deposits, special savings accounts and in the form of deposit certificates. The amount of these credits must not exceed the financing proportions set in Article 18 of this circular.

Long-term credits granted within the framework of savings plans promoted by banks are not taken into consideration in calculating the 3% limit referred to in the first paragraph above.

Article 32 (new)2: These credits are intended:

• to finance investments in the sectors of agriculture and fishing, industry, tourism and other services as fixed by Decree No. 94/492 of 28 February 1994, whose useful life exceeds 7 years and whose profitability requires a repayment period of more than 7 years; and

• to restore the balance of the financial structure of enterprises in these same sectors.

An indicative list of operations likely to be financed by long-term agricultural credits is given in Annex VII attached hereto.

[7] Thus amended by circular No. 96-13 of 11/10/1996

Article 33 (new)2: These credits may also be granted to any enterprise marketing new wholesale agricultural equipment. In this case, the beneficiary enterprise must pass on all the credit conditions to the purchasers.

Article 33 (bis):

Thus repealed by circular No. 2007-25 of 19/11/2007

Article 33 (ter)15: Long-term credits financing the construction, extension and development of university residences.

These credits are intended to complete the financing of projects for the creation, extension or development of university residences.

The credit proportion is limited to 50% of the project cost.

C) Deferral of maturity:

Article 34: Banks may reschedule the repayment schedule of medium- and long-term credits to readjust it to the beneficiary's actual repayment capacity. This rescheduling must not bring the total duration of the credit beyond 7 years for medium term and 15 years for long term.

D) Calculation of interest on medium- and long-term credits

Article 35: Interest is payable in arrears and calculated from the date on which the beneficiary's current account or checking account was credited.

TITLE 2 bis2 NORMS FOR GRANTING CREDITS TO INDIVIDUALS

Article 35 bis16: This credit is intended to finance the acquisition, by individuals, of durable consumer goods as well as their development and/or current expenses. The repayment period of this credit may not exceed 3 years, except for credits intended:

• for the acquisition of equipment or products falling within the framework of national programs (such as the family PC and the solar water heater) for which the repayment period may be up to 5 years;

• for the acquisition of cars for which the repayment period may reach 7 years and the amount of the credit must not exceed 60% of the value of the car to be acquired. This financing proportion could reach 80% for cars with a fiscal horsepower of four horses 18; and

[2] Thus amended by circular No. 2007-25 of 19/11/2007

[15] Thus added by circular No. 2003-07 of 18/06/2003 16 Thus amended by circular No. 2012-17 of 04/10/2012

[18] Thus amended by circular No. 2016-02 of 01/07/2016

• for the development of a residential dwelling for which the repayment period may reach 5 years17.

Article 35 ter: Credits for housing finance.

These credits are intended to finance the construction or extension of a residential dwelling as well as the acquisition, from a real estate developer, of a dwelling. The financing proportion is limited to 80% of the investment.16

The repayment period of these credits may be up to 25 years.

Housing finance credits with an initial duration of between 10 and 15 years must be backed by resources with a minimum maturity of 10 years.

Housing finance credits with an initial duration of between 15 and 20 years must be backed by resources with a minimum maturity of 15 years.

Housing finance credits with an initial duration of between 20 and 25 years must be backed by resources with a minimum maturity of 20 years.

Housing finance credits with an initial duration of more than 15 years must carry a fixed interest rate.

Banks freely set the conditions of housing finance credits granted within the framework of a housing savings product promoted by them. They must, however, ensure the balance between resources and uses of the product thus promoted.

Article 35 quater: University loans

These loans are intended to finance the university studies of students whose parents' income is greater than four and a half times the guaranteed minimum interprofessional wage.

The maximum amount of the university loan is set at 500 dinars per year of study, excluding interim interest; the study cycle may, where applicable, be extended by a single repeat year.

This competition is repayable over a period of 6 years, including two years of grace, starting from the completion of the study cycle.

[17] Thus amended by circular No. 2014-06 of 10/07/2014

TITLE 3 CREDIT CONTROL PROCEDURES

Article 36: The lead banks shall transmit to the Central Bank of Tunisia a file for post-control:

• on the occasion of the granting or renewal of credit when the authorizations or short-term outstanding amounts are equal to or greater than 500 thousand dinars for the agriculture and fishing sectors and two million dinars for other sectors,

• on the occasion of the granting of any medium-term credit of an amount equal to or greater than 200 thousand dinars for investments in agriculture and fishing and 500 thousand dinars for investments in other sectors, with the exception of medium-term credits provided for by the financing schemes of projects approved by APIA or SCAT or benefiting from a decision of tax advantages,

• on the occasion of the granting of any medium-term consolidation credit, as provided for by Article 19 above, and any long-term credit.

These files, which must reach the B.C.T. within a maximum period of one month from the date of granting or renewal of the credit, shall be established in accordance with the models in Annexes VIII and IX and shall include, in addition to the bank distribution, any document allowing assessment of the evolution of the financial and cash situation of the beneficiary as well as the justification of the credit ratings granted.

Furthermore, the lead banks shall communicate to the Central Bank of Tunisia within the same aforementioned one-month period, the bank distribution as well as the latest balance sheet and annexed accounts of companies whose authorizations or outstanding short-term credits, other than agricultural, are between 500 thousand and two million dinars.

The Central Bank of Tunisia may request banks to communicate any file whose credit amount is below the aforementioned thresholds.

TITLE 4 REFINANCING BY THE CENTRAL BANK OF TUNISIA

Articles 37, 38, 39, 40, 41, 42, 43 and 44 are repealed by circular No. 2005-09 of 14 July 2005

Article 45: All prior provisions contrary to this circular or duplicating it are repealed, and in particular circulars No. 76-21 of 4 March 1976 as amended by circulars No. 84-09 of 15 May 1984 and No. 86-26 of 8 September 1986, No. 77-28 of 14 March 1977; No. 80-21 of 4 August 1980 as amended by circular No. 85-12 of 12 April 1985; No. 80-25, No. 80-26 and No. 80-27 of 21 August 1980; No. 81-13 of 12 June 1981; No. 81-15 and No. 81-16 of 14 August 1981; No. 82-02 of 8 March 1982; No. 83-19 of 9 September 1983; No. 84-18 of 25 June 1984; No. 84-19 of 26 June 1984 as amended by circular No. 85-11 of 12 April 1985; No. 84-29 of 4 December 1984 as supplemented by circular No. 87-27 of 12 August 1987, No. 84-27 of 12 November 1984 as supplemented by subsequent texts; No. 85-23 of 24 May 1985; No. 86-51 of 19 December 1986 as amended by circular No. 87-38 of 23 September 1987 and No. 87-15 of 13 March 1987.

This circular takes effect from its notification.

CIRCULAR No. 87-47 OF 23 DECEMBER 1987

SCALE AND MATURITIES OF SEASONAL CROP CREDITS

ANNEX I - PAGE 1

Speculation Unit
Intervention scale in dinars (1)
Maturity or duration of the campaign
In dry In irrigated a/ Cereal cultivation (2) durum wheat, soft wheat and legumes zone 1 zone 2 Barley zone 1 zone 2 zone 3 Fodder winter summer b/ Sugar beet (3) c/ Arboriculture (3)

• Northern olive trees
• Central and Southern olive trees
• Northern almond trees
• Central and Southern almond trees
• Northern apricot trees
• Northern and Southern apricot trees
• Northern table vine
• Wine vine
• HP High Pergola table vine
• PDT Pergolette or Double T table vine
• Citrus
• Deglet Nour date palms
• Date palms (Other varieties)
• Pistachio trees
• Apple-pear trees
• Peach trees
• Plum trees
• Pomegranate trees
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  910
  755
  555
  525
  210
  630
  -
  690
  115
  105
  230
  210
  475
  400
  460
  570
  265
  240
  240
  }1285
  -
  -
  -
  -
  1005
  975
  475
  475
  750
  750
  750
  750
  1320
  1500
  2000
  2210
  1210
  735
  900
  805
  750
  1000
  ]
  ] 31 August
  ]
  ]
  ] 31 August
  ]
  ]
  ]
  31 August
  30 September
  31 August
  31 December
  31 December
  31 July
  31 July
  31 May
  31 May
  30 September
  30 September
  30 September
  30 September
  31 December
  30 November
  30 November
  31 August
  31 August
  31 August
  31 August
  31 December

[1] --------------------------- (1) This scale constitutes a ceiling. The amount of the credit granted by the bank must be adjusted according to the size of the holding, the expenses to be incurred and the yields achieved during the last campaigns.

[2] Amended by circular No. 88-03 of 21.01.1988, note to banks No. 91-43 of 1.04.1991, note to banks No. 92-34 of 14.10.1992, circular No. 95-14 of 30.05.1995, circular No. 96-08 of 02.09.1996, circular No. 98-10 of 14.09.1998, circular No. 2003-12 of 15-10-2003, circular No. 2006-10 of 15-09-2006, circular No. 2007-22 of 09-10-2007, circular No. 2008-18 of 10-09-2008, circular No. 2012-16 of 27.09.2012, circular No. 2016-05 of 05-10-2016 and circular No. 2018-11 of 06-11-2018

[3] Amended by circulars No. 89-13 of 17.05.1989 and No. 97-06 of 10.04.1997 and No. 2005-16 of 21.09.2005; and by notes to banks No. 90-55 of 24.12.1990, No. 91-12 of 01.04.1991, No. 93-09 of 26.03.1993.

[*] The list of regions classified by zone appears after this scale.

CIRCULAR NO. 87-47 OF 23 DECEMBER 1987 ANNEX I - PAGE 2

Speculation Unit
Intervention scale in dinars (1)
Maturity or duration of the
Dry Irrigated campaign d/ Market Garden Crops (5)

• Tomatoes
• Peppers
• Potatoes(6)
• Artichokes 1st year
• Artichokes 2nd year
• Cucurbits

• Watermelons
• Melons
• Cucumbers
• Garlic
• Green onion
• Strawberry plants 1st year
  e/ Early and late-season Market Garden Crops season (5)

• Late-season Early Tomatoes
  under large shelter-greenhouses
• Early Peppers under small tunnels
• Early and late-season Peppers
  under large shelter-greenhouses
• Early Melons under large shelter-greenhouses
• Early Potatoes(6)
• Late-season Potatoes(6)
  f/ Cotton (4) g/ Peach
  § Trawlers & mixed trawlers
  § Lamparos (fishing by fire)
  § Motorized boats
  § Non-motorized boats
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  Ha
  345
  345
  345
  2300
  1515
  4440
  1325
  840
  725
  725
  725
  955
  980
  5750
  9900
  3300
  9900
  9900
  3945
  2930
  30 September
  30 September
  31 August
  31 March
  31 March
  30 September
  30 September
  30 September
  31 March
  31 March
  31 June
  31 May
  31 May
  31 May
  30 June
  31 May
  31 December
  30 November
  From 31 July to
  30 September
  485,000
  5.000,000
  3.000,000
  500,000
  150,000

---

[3] Amended by circulars No. 89-13 of 17 May 1989, No. 97-06 of 10 April 1997 and No. 99-10 of 8 June 1999 and notes to banks No. 90-55 of 24.12.90, No. 91-12 of 1.04.91, 93-09 of 26.03.93.

[4] As amended by note to banks No. 90-43 of 16.10.90.

[5] As amended by circular No. 2005-16 of 21.09.2005.

[6] As amended by circular No. 2009-19 of 23.09.2009.

CIRCULAR No. 87-47 OF 23 DECEMBER 1987 ANNEX I - PAGE 3

Speculation	Unit	Intervention scale in dinars*	Due date or duration of the campaign
h/ Fattening (5) * Bull fattening - purchase of young bulls - feed for young bulls * Camelid fattening - purchase of camelids - feed for camelids	head	580 310 280 180	6 months 6 months 9 months 9 months
i/ Purchase of feed for dairy cows, suckling ewes and camelids(6) * dairy cow feed * suckling ewe feed * camelid feed . 1st tranche (September) . 2nd tranche (December)	head head head head	96 27 120 64	3 months 6 months July July

Speculation	Production capacity of the project	Intervention scale in Thousands of dinars	Due date in months
j- Aquaculture (7) * Tilapia farming - purchase of fry - farming and insurance costs * Sea bass and sea bream hatchery with pre-growing unit . 10 g fry . 2 g fry - farming and insurance costs	100 tonnes 5 million fry 7 million fry	35 95 850	8 8 8
k- Poultry farming (8) * Broiler chicken farming - purchase of chicks - farming costs * Laying hen farming - purchase of chicks - farming costs * Meat turkey farming - purchase of chicks - farming costs	5,000 Hens 10,000 Hens 5,000 Turkeys	2,1 7,1 5 ,5 78,5 6,3 34,2	3 12 4

[*] This scale constitutes a ceiling. The amount of credit granted must be modulated according to the expenses to be incurred and the yields achieved.

[5] Amended by circular No. 2000-07 of 09 June 2000 and circular No. 2002-13 of 28.11 2002.

[6] Added by circular to banks No. 95-14 of 30.05.95 and amended by circular No. 99-02 of 26 January 1999 and circular No. 2002-11 of 4.7.2002.

[7] (7)Added by circular to banks No. 2004-10 of 31/12/2004.

[8] (8)Added by circular to banks No. 2006-03 of09/05/2006

CIRCULAR No. 87-47 OF 23 DECEMBER 1987 ANNEX I (CONTINUED)

LIST OF REGIONS CLASSIFIED BY ZONE*

ZONE I	ZONE II	ZONE III
I- DURUM WHEAT, SOFT WHEAT & LEGUMES
1-BEJA
Béjà	The rest of the governorate
Teboursouk
Nefza
Amdoun
Testour
2-BIZERTE
The entire governorate	None
3-JENDOUBA
Jendouba	Jendouba Sud
Bou Salem	Ghardimaou
Fernana	Oued Melliz
	Tabarka
	Ain Draham
4-KAIROUAN
None	Kairouan Plaine
	Sbikha
	Oueslatia
	Sidi Ali B. Nasrallah
	Chebika
	Haffouz
	Abida
5-KASSERINE
None	Thala
	Sbiba
	Jedliane
	Foussana
6-LE KEF
Le Kef Nord	The rest of the governorate
Zaafrana
Nebeur
Touiref

[*] --------------------------- * Amended by Circular No. 96-10 of 23 September 1996.

CIRCULAR NO. 87-47 OF 23 DECEMBER 1987 ANNEX I (CONTINUED) - PAGE 2

LIST OF CLASSIFIED REGIONS BY ZONE*

ZONE I	ZONE II	ZONE III
7-NABEUL None	The entire governorate
8-SILIANA Krib Bourouis Bargou	The rest of the governorate
9-SOUSSE None	Enfidha
10-TUNIS None	The entire governorate
11-ARIANA Sidi Thabet Cebalet B. Ammar Kalaat Laandalous Tebourba Djedaida	The rest of the governorate
12-BEN AROUS None	The entire governorate
13-ZAGHOUAN None	The entire governorate

II – BARLEY

1-KAIROUAN Kairouan Plain Sbikha Oueslatia Sidi Ali Ben Nasrallah Chebika Abida	Hajeb Sidi Amor Haffouz Cherarda Ala

CIRCULAR NO. 87-47 OF 23 DECEMBER 1987 ANNEX I (CONTINUED) - PAGE 3

ZONE I	ZONE II	ZONE III
2-KASSERINE Foussana Jedliane Thala Sbiba	Sbeitla Kasserine	The rest of the governorate
3-MAHDIA None	El Djem Ouled Chamekh	The rest of the governorate
4-MONASTIR None	None	The entire governorate
5-SFAX None	None	The entire governorate
6-SIDI BOUZID None	None	The entire governorate
7-SOUSSE Enfidha	None	The rest of the governorate

CIRCULAR NO. 87-47 OF 23 DECEMBER 1987 ANNEX 2

PERIOD OF THE CAMPAIGNS AND MATURITY OF CAMPAIGN CREDITS

PRODUCTS	CAMPAIGN PERIOD	MATURITY OF THE CAMPAIGN CREDIT
1) Agricultural products
. Fresh tomatoes (for tomato concentrate).	July - September	30 September
. Peppers (for harissa)	September - December	31 December
. Almonds	August - December	31 December
. Dates	October - December	31 December
. Olive oil	November - March	31 March
. Olive pomace oils	December - May	31 May
. Cotton (1)	November - December	31 December
. Sugar beet (1)	July - September	30 September
2) Sea products
. Clams	October - May	31 May
. Clams	October - May	31 May
. Shrimp	June - 15 August then 15 September - December	31 December
. Octopus, cuttlefish and squid	November - April	30 April
. Tuna	April - August	31 August

[1] Supplemented by note to banks No. 90-54 of 18.12. 90.

CIRCULAR No. 87-47 OF 23 DECEMBER 1987 ANNEX 3

REFERENCE PRICES FOR THE CALCULATION OF CREDITS FINANCING AGRICULTURAL AND AGRI-FOOD PRODUCTS (1)

CAMPAIGN PERIODS AND MATURITY OF CAMPAIGN CREDITS

PRODUCTS	REFERENCE PRICE FOR THE CALCULATION OF CREDITS	BODIES OR TEXTS SETTING PRICES
. Fresh tomatoes: Campaign credit	Transfer price (set by the MEN)	Circular of the B.C.T.
. Dates * Campaign credit	Production price (set by the M.E.N)	Circular of the B.C.T
* ASM and export prefinancing	Production price increased by approach costs	Circular of the B.C.T
. Citrus fruits: Export Pref.	Average advance	Circular of the B.C.T
. Olive oil	Average advance	Circular of the B.C.T
* Advance/Goods	(set by the CIM)
* Start-up credit	Average advance
* Export prefinancing	Average advance
. Olive pomace oil: advances/goods	Sale price of oils, acid or neutral	Decree organizing the olive campaign
. Local cereals (2)		Downstream commission
* Advances/goods	Downstream price
* Financing carry-over stock	Downstream price
. Wine * Export prefinancing	Average export price	National Vine Office
*Advances/goods	Advance for the campaign	National Vine Office

[1] For products not appearing in this table, prices are free.

[2] For the calculation of the credit financing the carry-over stock of cereals, account must be taken of the downstream prices of the previous campaign.

[*] Replaced by note to banks No. 89-01 of 6 January 1989.

CIRCULAR No. 87-47 OF 23 DECEMBER 1987 ANNEX 4

LIST OF OPERATIONS THAT CAN BE FINANCED BY MEDIUM-TERM AGRICULTURAL CREDITS (1)

a) Acquisition of new agricultural equipment:

• Tractors for agricultural work

• Harvesting equipment, in particular combine harvesters and binders

• Spreading, sowing, fertilizing and crop protection equipment.

• Soil working implements, in particular ploughs, polydisc cover crops, etc.

• Specialized equipment for harvesting, gathering and conditioning of fodder and fodder seeds.

• Transport equipment with animal or mechanical traction (trailer, mobile tank, etc.).

• Soil working implements

• Greenhouses

b) Acquisition of breeding stock:

• Purchase of cattle: purebred pregnant heifers imported or born and raised in Tunisia, crossbred pregnant heifers, local pregnant heifers from artificial insemination or from an approved bull, bulls.

• Purchase of sheep.

• Purchase of bee colonies.

c) Acquisition of specialized livestock equipment:

• Dairy equipment

• Equipment for sheepfold

• Hives and beekeeping equipment.

d) Construction of livestock buildings.

[1] -------------------------- (1) Supplemented by Article 2 of Circular No. 89-13 of 17.5.89 and amended by note to banks No. 91-44 of 26.11.91.

e) Creation, equipping and development of water points:

• Drilling and major repairs of existing water points.

• Cisterns

• Hydraulic equipment, in particular: motor-pump unit, electric-pump unit, pumping station.

f) Acquisition of fishing equipment

• Engines

• Generator sets

• Navigation and detection equipment

• On-board refrigeration equipment.

• Complete hydraulic or mechanical equipment for spinning or hauling fishing gear.

• Other fishing equipment.

g) Crop protection

• Greenhouses

• Green windbreaks other than for tree plantations.

This list is not exhaustive and may be revised or supplemented whenever necessary.

CIRCULAR No. 87-47 OF 23 DECEMBER 1987

ANNEX 4 BIS ADDED BY CIRCULAR 91-12 OF 24.6.1991*

SCALE AND MATURITY OF MEDIUM-TERM CREDITS FINANCING THE ACQUISITION AND REARING OF HEIFERS OF A BREED BORN IN TUNISIA

	UNIT	BANK INTERVENTION SCALE (IN DINARS)	CREDIT DURATION
- Acquisition of the heifer	head	240	27 months
- Feeding	head	1100
*1st tranche		550	27 months
*2nd tranche (from the 15th month)		550	12 months

[•] -------------------------------------------- • Amended by Circular No. 99-02 of 26 January 1999.

ANNEX No. 4 TER (**)

SCALE AND MATURITY OF MEDIUM-TERM CREDITS FINANCING AQUACULTURE

Activity	Production capacity of the project	Intervention scale in thousands of dinars*	Maturity in months
- Sea bass and sea bream farming in cages	400 tonnes
. purchase of fry		530	18
. farming and insurance costs		1670	18
- first tranche		500	18
- second tranche		1170	12
- Shellfish farming
* Mussel and oyster
- mussel	10 tonnes
- oyster	90 tonnes
. purchase of fry		7	18
. farming and insurance costs		27	18
- first tranche		8	18
- second tranche		9	19
* Clam	100 tonnes
. purchase of fry		70	24
. farming and insurance costs		70	24
- first tranche		21	24
- second tranche		49	12
- Crustacean farming (Royal Shrimp)	150 tonnes
. purchase of fry		190	13
. farming and insurance costs		370	13
- first tranche		110	13
- second tranche		260	7

[*] This scale constitutes a ceiling and must be modulated according to the expenses to be undertaken and the yields achieved.

[**] Added by circular to banks No. 2004-10 of 31 December 2004 and amended by circular to banks No. 2015-10 of 03 June 2015 (published in Arabic only).

CIRCULAR NO. 87-47 OF 23 DECEMBER 1987 ANNEX 5

LIST OF GOODS ELIGIBLE FOR FINANCING BY MEDIUM-TERM PRODUCTION CREDIT

ELIGIBLE SECTORS AND BRANCHES
CONSTRUCTION MATERIALS, CERAMICS AND GLASS INDUSTRIES - Construction materials industries . Reinforced pipes . Fixed prefabrication installations - Ceramics industries . Sanitary articles . Tableware - Glass industries . Glassware . Bottle manufacturing	MECHANICAL AND ELECTRICAL INDUSTRIES . Pipes for pipelines . Metal framework . Boilermaking . Scaffolding . Metal furniture . Turbines, motors, alternators . Pumps and compressors . Electrical equipment for installation and measurement . Refrigeration and packaging equipment . Heating appliances . Household articles . Industrial electronic equipment . Telecommunication devices . Measuring and weighing devices . Shipbuilding . Basketwork, plumbing fittings
MISCELLANEOUS INDUSTRIES - Wood and furniture . Building joinery . Furniture and cabinetmaking - Plastics . Tubes and pipes . Filters for greenhouses . Sanitary ware . Structural components (insulation, joinery, partitions). . bins, handling crates, containers, tanks and cisterns CLOTHING AND LEATHER INDUSTRIES . Linen: curtains, tablecloths, napkins, sheets, blankets and terry fabrics . Carpets, wall and floor coverings . Coated fabrics	. Fire-fighting equipment . Handling and lifting equipment . Civil engineering, mining and quarrying equipment . Railway transport equipment . Buses and coaches . Trucks . Machine tools . Molds . Vans . Dumpsters and trailers . Tractors . Equipment for agriculture, horticulture and livestock farming . Leisure articles . Solar water heaters . Pumping wind turbines

• Services: - Building and public works: . Studies and supervision of construction sites . Civil engineering . Miscellaneous installations - Others: . Engineering studies and others . Industrial maintenance . Assembly

This list is not exhaustive and could be supplemented by other products whenever deemed useful.

ANNEX 6 TO THE CIRCULAR TO BANKS NO. 87-47 OF 23 DECEMBER 198713

LIST OF CRAFTS ACTIVITIES AND ACTIVITIES CARRIED OUT IN SMALL ENTERPRISES AND SMALL TRADES

I - LIST OF CRAFTS ACTIVITIES

(DECREE NO. 94-492 OF 28 FEBRUARY 1994 SETTING THE LISTS OF ACTIVITIES FALLING UNDER THE SECTORS PROVIDED FOR BY ARTICLES 1, 2, 3 AND 27 OF THE INVESTMENT INCENTIVES CODE)

101- WEAVING TRADES

10101	HAND WEAVING
10102	WOOL SPINNING
10103	TRADITIONAL DYEING

102 - CLOTHING TRADES

10201	MANUFACTURE OF CHECHIA
10202	MAKING OF TRADITIONAL GARMENTS
10203	KNITTING
10204	LACE MAKING
10205	EMBROIDERY
10206	PASSEMENTERIE

103 - LEATHER AND FOOTWEAR TRADES

10301	MANUFACTURE OF SADDLES
10302	TRADITIONAL LEATHER GOODS
10303	BOOKBINDING
10304	LEATHER EMBROIDERY
10305	MANUFACTURE OF BALGHA AND TRADITIONAL-TYPE SHOES
10306	TRADITIONAL TANNING

104 - WOOD TRADES

10401	TRADITIONAL JOINERY
10402	WOOD SIZING
10403	WOOD SCULPTURE
10404	TRADITIONAL WOODTURNER
10405	OPENWORK ON WOOD

105 - PLANT FIBER CRAFTS

10501	WEAVING ON ANY SUPPORT
10502	MANUFACTURE OF WICKER ARTICLES
10503	MANUFACTURE OF CORK ARTICLES
10504	MANUFACTURE OF RATTAN ARTICLES
10505	MANUFACTURE OF FINE FIBER ARTICLES

[13] As amended by circular to banks No. 2008-19 of 19/09/2008.

106 - METAL CRAFTS

10601	MANUFACTURE OF ARTICLES IN VARIOUS METALS CHISELED, REPOUSSÉ, ENGRAVED, OPENWORKED OR ENAMELLED
10602	DAMASCENING
10603	ARTISTIC IRONWORK
10604	ARTISTIC ARMORER
10605	JEWELRY MANUFACTURE
10606	MANUFACTURE OF SILVER ARTICLES
10607	ARTISANAL METAL TURNING

107 - CLAY AND STONE CRAFTS

10701	ARTISANAL POTTERY
10702	CERAMICS
10703	MANUFACTURE OF STONE TRINKETS
10704	OF PLASTER TRINKETS
10707	MOSAIC
10708	MANUFACTURE OF MARBLE TRINKETS
10709	MARBLE CUTTING AND SCULPTURE

108 - GLASS CRAFTS

10801	MANUAL GLASS
10802	BLOWN GLASS
10803	GLASS SCULPTURE
10804	GLASS CUTTING

109 - PAPER CRAFTS

10901	MANUFACTURE OF PAPER BIBELOTS

110 - MISCELLANEOUS TRADES

11001	PAINTING AND DECORATION ON ANY SURFACE
11002	MANUFACTURE OF TRADITIONAL TOKENS
11003	MANUFACTURE OF TRADITIONAL MUSICAL INSTRUMENTS
11004	CALLIGRAPHY
11005	MANUFACTURE OF CORAL ARTICLES
11006	STONE SETTING
11007	MANUFACTURE OF CANDLES
11008	MANUFACTURE OF SIEVES
11009	MANUFACTURE OF PERFUMES
11010	UPHOLSTERY
11011	MANUFACTURE OF DECORATIVE ARTICLES
11012	ARTISANAL MANUFACTURE OF TRADITIONAL TOYS AND DOLLS
11013	MANUFACTURE OF LAMPS

II - LIST OF ACTIVITIES CARRIED OUT IN SMALL ENTERPRISES AND SMALL TRADES

(ANNEX II OF DECREE NO. 2008/388 OF 11 FEBRUARY 2008 ON THE ENCOURAGEMENT OF NEW PROMOTERS, SMALL AND MEDIUM-SIZED ENTERPRISES, SMALL ENTERPRISES AND SMALL TRADES)

201 - GROUP OF FOOD INDUSTRY ACTIVITIES

20101	PRODUCTION OF MILK BY-PRODUCTS
20102	EXTRACTION OF VEGETABLE OILS
20103	MILLING AND PROCESSING OF GRAINS
20104	MILLING OF SPICES AND DRIED FRUITS
20105	MILLING AND ROASTING OF COFFEE
20106	BAKERY
20107	MANUFACTURE OF PASTRY, CONFECTIONERY, BISCUITS AND CHOCOLATE
20108	PROCESSING AND PRESERVATION OF FRUITS
20109	MANUFACTURE OF SWEETENED AND ICED DRINKS AND FRUIT JUICES
20110	PRODUCTION OF FOOD FLAVOURINGS
20111	PROCESSING AND PRESERVATION OF MEAT AND FISH
20112	MANUFACTURE OF ICE
20113	MANUFACTURE OF CONFECTIONERY
20114	MANUFACTURE OF ICE CREAM CONES

202 - GROUP OF BUILDING AND CERAMICS ACTIVITIES

20201	MANUFACTURE OF ROOF FRAMES FOR BUILDINGS
20202	PROCESSING OF NATURAL MARBLE AND PRODUCTION AND PROCESSING OF ARTIFICIAL MARBLE
20203	MANUFACTURE AND PROCESSING OF PLASTER
20204	MANUFACTURE OF LIME
20205	MANUFACTURE OF CEMENT DERIVATIVES
20206	MANUFACTURE OF TILES
20207	OPERATION OF STONE AND SAND QUARRIES
20208	MANUFACTURE OF MISCELLANEOUS CLAY PRODUCTS AND ARTICLES
20209	MANUFACTURE OF PAVING STONES, ROOF TILES, BRICKS AND DERIVATIVES
20210	DECORATION OF GLASS AND GLASS UTENSILS
20211	DECORATION OF EARTHENWARE TILES
20212	SHAPING OF FLAT GLASS AND GLAZING

203 - GROUP OF WOOD, CORK, ALFA AND RATTAN PROCESSING ACTIVITIES

20301	CARPENTRY OF ALL KINDS EXCLUDING TRADITIONAL CARPENTRY
20302	PRODUCTION OF FURNITURE IN WOOD OR OTHER MATERIALS
20303	PRODUCTION OF FISHING FLOATS
20304	PRODUCTION OF BOATS AND BOAT PARTS
20305	MANUFACTURE OF BRUSHES AND BROOMS
20306	CARTWRIGHTS (MANUFACTURE OF CARTS)
20307	MANUFACTURE OF FISHING NETS
20308	MANUFACTURE OF ROPES
20309	MANUFACTURE OF WOODEN TOYS

204 - GROUP OF WEAVING AND CLOTHING ACTIVITIES

20401	WEAVING EXCLUDING MANUAL SPINNING
20402	WEAVING OF COTTON AND COTTON BLENDS EXCLUDING MANUAL WEAVING
20403	WEAVING OF WOOL AND WOOL BLENDS EXCLUDING MANUAL WEAVING
20404	MANUFACTURE OF BLANKETS AND WOOL ARTICLES
20405	MANUFACTURE OF GARMENTS AND READY-TO-WEAR CLOTHING
20406	MANUFACTURE OF UNDERWEAR
20407	MANUFACTURE OF SOCKS AND SIMILAR ITEMS
20408	MANUFACTURE OF WORK CLOTHING
20409	MANUFACTURE OF EDGINGS AND BRAIDS
20410	MECHANICAL EMBROIDERY AND LACE-MAKING
20411	MANUFACTURE OF CURTAINS
20412	MANUFACTURE OF HABERDASHERY ARTICLES

205 - LEATHER AND FOOTWEAR ACTIVITIES GROUP

20501	COLLECTION, PRESERVATION AND PACKAGING OF RAW HIDES
20502	TANNING OF LEATHER AND FELLMONGERY, EXCLUDING TRADITIONAL TANNING
20503	MANUFACTURE OF FOOTWEAR AND FOOTWEAR ARTICLES, EXCLUDING TRADITIONAL ARTICLES
20504	MANUFACTURE OF FOOTWEAR PARTS
20505	MANUFACTURE OF LEATHER GOODS
20506	REPAIR OF FOOTWEAR AND LEATHER GOODS

206 - METALWORKING, MECHANICAL AND ELECTRICAL INDUSTRIES ACTIVITIES GROUP

20601	METAL CONSTRUCTION
20602	ALUMINIUM, IRON AND SIMILAR JOINERY
20603	PRODUCTION OF SPARE PARTS
20604	PRODUCTION OF AGRICULTURAL MATERIALS AND EQUIPMENT
20605	PRODUCTION OF INDUSTRIAL MATERIALS AND EQUIPMENT
20606	PRODUCTION OF TRAILERS FOR AGRICULTURAL USE AND CASKS
20607	PRODUCTION OF METAL FURNITURE
20608	PRODUCTION OF METAL UTENSILS FOR DOMESTIC USE
20609	ASSEMBLY OF BICYCLES
20610	ASSEMBLY OF WATCHES
20611	MANUFACTURE OF MOULDS
20612	MANUFACTURE OF KEYS AND LOCKS
20613	MANUFACTURE OF ADVERTISING SIGNS
20614	MANUFACTURE OF LAMPS AND CHANDELIERS
20615	MANUFACTURE OF ELECTRICAL PARTS
20616	MANUFACTURE AND ASSEMBLY OF ELECTRONIC PARTS
20617	TREATMENT OF METAL SURFACES INCLUDING ELECTROPLATING
20618	CUSTOM MANUFACTURE OF MODELS AND SPARE PARTS
20619	SANDING, TURNING AND MILLING AND FITTING (GENERAL MECHANICS)
20620	MANUFACTURE OF METAL ARTICLES FOR OFFICE USE
20621	MANUFACTURE OF WEIGHING AND MEASURING INSTRUMENTS
20622	MAKING OF MINERALOGICAL PLATES
20623	BLACKSMITH

207 - GROUP OF PRINTING AND PAPER INDUSTRY ACTIVITIES

20701	PROCESSING OF PAPER AND CARDBOARD
20702	MANUFACTURE OF NOTEBOOKS AND REGISTERS
20703	PRINTING ON PAPER
20704	PRINTING ON FABRIC
20705	PRINTING ON METALS AND VARIOUS MEDIA
20706	BOOKBINDING

208 - GROUP OF CHEMICAL INDUSTRY ACTIVITIES

20801	DISTILLATION OF WATER FOR BATTERY USE
20802	MANUFACTURE OF COSMETIC PRODUCTS
20803	DISTILLATION OF PLANTS AND FLOWERS
20804	MANUFACTURE OF SOAP, DISINFECTION, CLEANING AND POLISHING PRODUCTS
20805	PROCESSING OF WAX AND MANUFACTURE OF WAX ARTICLES
20806	MANUFACTURE OF PAINTS

209 - GROUP OF PLASTICS INDUSTRY ACTIVITIES

20901	PROCESSING OF PLASTIC SHEETS
20902	MANUFACTURE OF PLASTIC FRAMES, DOORS AND WINDOWS
20903	PROCESSING OF PLASTIC FILM

210 - GROUP OF HYGIENIC MAINTENANCE ACTIVITIES

21001	OPERATION OF BATHS AND SHOWERS

211 - GROUP OF DOMESTIC MAINTENANCE ACTIVITIES

21101	UPHOLSTERY OF ALL KINDS
21102	MANUFACTURE OF PADDING AND MATTRESSES
21103	MATTRESS-MAKING ACTIVITY
21104	DYEING, CLEANING AND IRONING OF CLOTHING
21105	CLEANING OF ADMINISTRATIVE, INDUSTRIAL AND HOTEL PREMISES
21106	FLOOR AND WALL COVERING, FITTING OUT AND DECORATION OF PREMISES

212 - GROUP OF SERVICE ACTIVITIES RELATED TO THE BUILDING SECTOR

21201	BUILDING PAINTING
21202	BUILDING ELECTRICITY
21203	INSTALLATION OF TILES, MOSAIC AND ROOF TILES
21204	INSTALLATION OF WINDOWS AND FRAMES
21205	INSTALLATION OF SUSPENDED CEILINGS
21206	PLASTER WORK AND INSTALLATION OF PLASTER STRUCTURES
21207	ROOF WATERPROOFING
21208	SANITARY PLUMBING
21209	BUILDING COMPANIES
21210	WELL DRILLING
21211	WELL DIGGERS

213 - MISCELLANEOUS ACTIVITIES

21301	AQUARIUM MANUFACTURING
21302	MUSICAL INSTRUMENT MANUFACTURING
21303	SPONGE PACKAGING
21304	CHALK MANUFACTURING
21305	MODEL MAKING
21306	SCALE MODEL MANUFACTURING
21307	ARTIFICIAL FLOWER MANUFACTURING
21308	PHOTOGRAPHY, VIDEO REPORTING AND FILM RECORDING AND DEVELOPMENT ACTIVITY
21309	PLAN PRINTING AND REPRODUCTION
21310	RECOVERY OF USED PARTS (CARTRIDGES FOR LASER PRINTERS AND COMPUTER RIBBON)
21311	SHEEP WOOL SHEARING
21312	MANUFACTURING OF TOYS OF ALL KINDS
21313	MANUFACTURING OF MEDICAL ORTHESES

214 - GROUP OF ACTIVITIES RELATED TO MAINTENANCE

21401	REPAIR OF ELECTRICAL AND ELECTRONIC APPLIANCES FOR DOMESTIC USE
21402	WELDING OF ALL KINDS
21403	REPAIR OF OPTICAL INSTRUMENTS AND ASSEMBLY OF GLASSES
21404	REPAIR OF WATCHES, CLOCKS AND JEWELRY
21405	MAINTENANCE OF SANITARY AND HEATING EQUIPMENT
21406	REPAIR OF LOCKS AND MANUFACTURING OF KEYS
21407	MAINTENANCE AND REPAIR OF AUTOMOTIVE ELECTRICAL CIRCUITS
21408	AUTO MECHANICAL MAINTENANCE
21409	AUTO BODYWORK AND PAINTING
21410	RADIATOR REPAIR
21411	AUTO UPHOLSTERY
21412	REWINDING AND MAINTENANCE OF ELECTRIC MOTORS
21413	VULCANIZATION
21414	REPAIR AND MAINTENANCE OF BATTERIES
21415	REPAIR OF BICYCLES AND MOTORCYCLES
21416	REPAIR OF WEIGHING AND MEASURING INSTRUMENTS
21417	REPAIR OF MUSICAL INSTRUMENTS
21418	INSPECTION OF FIRE-FIGHTING EQUIPMENT
21419	MAINTENANCE AND REPAIR OF VEHICLES
21420	RESTORATION OF FURNITURE AND PAINTINGS
21421	REPAIR OF SEWING AND KNITTING MACHINES
21422	REPAIR OF MEDICAL DEVICES
21423	REPAIR OF OFFICE MACHINES
21424	REPAIR OF PHOTOGRAPHIC APPARATUS
21425	INSTALLATION AND REPAIR OF COMPUTER EQUIPMENT
21426	INSTALLATION, REPAIR AND MAINTENANCE OF TELECOMMUNICATION OR ELECTRONIC EQUIPMENT
21427	REPAIR AND MAINTENANCE OF HOUSEHOLD UTENSILS
21428	REPAIR OF AGRICULTURAL EQUIPMENT AND MACHINERY
21429	REPAIR OF MARITIME VESSELS
21430	REPAIR, MAINTENANCE AND INSTALLATION OF INDUSTRIAL AND NON-INDUSTRIAL EQUIPMENT
21431	RENOVATION AND RECONDITIONING OF INDUSTRIAL AND NON-INDUSTRIAL PARTS AND MATERIALS
21432	MAINTENANCE OF COMPUTER EQUIPMENT
21433	MAINTENANCE OF ELECTRICAL TRANSFORMERS
21434	INSTALLATION AND MAINTENANCE OF GAS NETWORKS
21435	INSTALLATION AND MAINTENANCE OF PIPELINES
21436	MAINTENANCE OF SANITATION NETWORKS
21437	INSTALLATION OF COMPUTER NETWORKS

215 - GROUP OF MISCELLANEOUS SERVICE PROVISION ACTIVITIES

21501 COMPUTER-RELATED ACTIVITIES

• COMPUTER APPLICATION OFFICES

• SOFTWARE DEVELOPMENT AND MAINTENANCE

• COLOR SELECTION FOR PRINTING SHOPS

21502 MICROFILM ARCHIVING

21503 WASHING AND GREASING WITHOUT FUEL DISTRIBUTION

21504 STUDY AND ENGINEERING OFFICES AND ENGINEERING OFFICES

21505 ARCHITECTURE OFFICES

21506 RESEARCH

21507 WATER SANITATION SERVICES

21508 KINDERGARTENS

21509 SCREENING OF FILMS OF A CULTURAL AND SOCIAL NATURE

21510 VOCATIONAL SCHOOLS

21511 PHYSICAL CULTURE HALLS

21512 ORGANIZATION OF CONGRESSES AND EXHIBITIONS

21513 TOPOGRAPHY

21514 CREATION AND DEVELOPMENT OF AMUSEMENT PARKS AND CHILDREN'S RIDES

21515 TRANSLATION AGENCIES

21516 ACCOUNTING AND AUDIT FIRMS

21517 CONSULTING, TAX, LEGAL AND OTHER ADVISORY FIRMS

21518 AUTOMOTIVE TECHNICAL DIAGNOSTICS

21519 DECORATION

21520 STYLING AND MODEL MAKING

21521 ANALYSIS, CONTROL, TESTING AND VERIFICATION OF PRODUCTS

21522 POSTAL SERVICES AND RELATED SERVICES

21523 COMMUNICATION SERVICES AND RELATED SERVICES

21524 PERSONNEL SELECTION AND PLACEMENT CONSULTANCY OFFICE

21525 SECURITY GUARD SERVICES AND RELATED SERVICES

21526 OFFICE AUTOMATION AND WORD PROCESSING

21527 GARBAGE COLLECTION AND SORTING

21528 SERVICES RELATING TO FUNERAL PROCESSIONS

21529 PRODUCTION AND MAINTENANCE OF ORNAMENTAL PLANTINGS

21530 ACTIVITIES OF SERVICES ANCILLARY TO LIVESTOCK FARMING, EXCEPT VETERINARY ACTIVITIES

21531 ACTIVITIES OF SERVICES ANCILLARY TO SILVICULTURE AND FORESTRY OPERATIONS

21532 EXPORT ADVISORY OFFICE

21533 CUSTOMS BROKER

21534 RURAL PUBLIC TRANSPORT

21535 REFRIGERATED TRANSPORT OF FISHERY PRODUCTS

21536 MEDICAL PRACTICE INCLUDING RADIOLOGY

21537 DENTAL PRACTICE

21538 VETERINARY PRACTICE

21539 PHARMACY

21540 MEDICAL BIOLOGY ANALYSIS LABORATORY

21541 ANIMAL BIOLOGY ANALYSIS LABORATORY

21542 URBAN PLANNING OFFICE

21543 AGRICULTURAL ADVISORY OFFICES

21544 DATABASES AND TELEMATIC SERVICES

21545 STUDIES AND CONSULTANCY IN INDUSTRIAL AND COMMERCIAL PROPERTY

21546 RENTAL OF COMPUTER EQUIPMENT AND SERVICES

21547 INFO MANAGEMENT

21548	SERVICE HOSTING
21549	ASSISTANCE IN CREATING A QUALITY SYSTEM
21550	MAINTENANCE STUDIES
21551	CONSULTING FIRMS OPERATING IN THE ENVIRONMENTAL FIELD
21552	MARKETING STUDIES
21553	PUBLIC INTERNET CENTERS
21554	ENERGY AUDIT AND EXPERTISE
21555	TECHNOLOGICAL AUDIT AND EXPERTISE
21556	TAX SUPERVISION AND ASSISTANCE FIRMS
21557	FIRMS PROVIDING ADVICE ON SELF-EMPLOYMENT AND ASSISTANCE TO PROMOTERS
21558	FIRMS MONITORING AND ASSISTING WITH DEBT RECOVERY FOR SMALL BUSINESSES
21559	PRODUCTION OR DEVELOPMENT OF SOFTWARE OR DIGITAL CONTENT
21560	PRODUCTION OR DEVELOPMENT OF HIGH VALUE-ADDED TECHNICAL SYSTEMS AND SOLUTIONS IN THE FIELD OF INFORMATION TECHNOLOGY AND TELECOMMUNICATIONS
21561	DEVELOPMENT OF INNOVATIVE SERVICES BASED ESSENTIALLY ON INFORMATION AND TELECOMMUNICATION TECHNOLOGIES OR INTENDED FOR THEM
21562	TECHNICAL ASSISTANCE, IT STUDIES AND ENGINEERING
21563	QUALITATIVE AND QUANTITATIVE CONTROL AND EXPERTISE
21564	TECHNICAL ANALYSIS AND TESTING
21565	ASSEMBLY OF INDUSTRIAL PLANTS
21566	REFRIGERATED TRANSPORT OF AGRICULTURAL PRODUCTS
21567	SERVICES RELATED TO DOCUMENTATION AND DATA STORAGE AND ALL KINDS OF ARCHIVING
21568	SERVICES AND WORKS RELATED TO SANITATION
21569	SERVICES AND WORKS RELATED TO COMMUNICATION
21570	ENVIRONMENTAL SERVICES
21571	PRODUCTION OF BIOLOGICAL FERTILIZERS
21572	SOIL AND WATER ANALYSIS LABORATORIES
21573	ESSENTIAL AND VEGETABLE OIL EXTRACTS
21574	CALL CENTER
21575	DATA ENTRY AND PROCESSING
21576	ACTIVITIES RELATED TO IT SECURITY

216 - PARAMEDICAL ACTIVITIES GROUP

21601	DENTAL PROSTHESIS
21602	INFIRMARY
21603	SPEECH THERAPY
21604	ORTHOPTICS
21605	DIETETICS
21606	MIDWIFE
21607	HEARING AID
21608	OPTICS-OPTOMETRY
21609	PHYSIOTHERAPY
21610	PSYCHOMETRICS

CIRCULAR NO. 87-47 OF 23 DECEMBER 1987 ANNEX 6 BIS* INFORMATION SHEET

I - BANK :................................................................................Code ///.........................................................................................................................................................

• Branch : .................................................................Code ///........................................................................................................................................................

II- PROMOTER

• National identity card no. ////////// ............................. issued at ...................................................................on //////_/
• Risk code : ...............................................................................................................................................................................................................................................- Surname :
  ................................................................................................................................................ .......................................................................................................- First name : ...................................................................................................................................................................................................................................................
• Date and place of birth : /// /// /// .......................................................................................................................................................................

III-PROJECT :

• Activity : ................................................................................................................................................................................................................................................
• Activity code : ................................. /////_/ ...................................................................................................................................................................
• Nature of investment (1)
  īġCreation
  //
  īġExtension
  //
• Number of jobs to be created : .................................................................................................
• Date of filing of the file with the Bank : ///////
• Date of financing decision : /// /// ///
• Location : ...............................................................................
• Governorate : ///
• B.C.T. Counter : ///
• Delegation : ///
• Locality : ///
• Address : Locality : ................................................................ Street : ................................................................ No. ........................................................... /_/

IV - INVESTMENT AND FINANCING PLAN (in dinars)

Uses	Amount	Resources	Amount
- Land...............................................	..................	- Self-financing................................	..................
- Civil engineering and development................	..................	- Endowment..............................................	..................
- Equipment.......................................	..................	. Budgetary..................................	..................
- Arrangement fees..................................	..................	. E.U ...........................................	..................
- Working capital.............................	..................	- Medium-term credit..........................	..................
Total:	..................	Total:	..................

V- SCHEDULES OF FACILITIES

• Date of first disbursement: * Allocation: /// /// ///
  īġMedium-term credit: /// /// ///
• Date of first maturity: * Allocation: /// /// ///

• Medium-term credit: /// /// ///

• Amortization (1): īġAllocation: Monthly // ; Quarterly // ; Half-yearly // ; Annual //

• Medium-term credit: Monthly // ; Quarterly //; Half-yearly // ; Annual //

• Date of last maturity: īġAllocation: /// /// ///

• Medium-term credit: /// /// ///

VI- SECTION RESERVED FOR THE B.C.T.

• Date of presentation of the file:
• to the B.C.T. branch: /// /// ///
• from the branch to the B.C.T. head office: /// /// ///
• Date of admission to refinancing:
  /// /// ///

---

[1] put a cross in the corresponding box

[*] Thus added by circular no. 95-01 of 04.01.1995.

CIRCULAR NO. 87-47 OF 23 DECEMBER 1987

ANNEX 7

SUBJECT: List of operations eligible for long-term agricultural credits.

I . CONSTRUCTION OF SPECIALIZED LIVESTOCK BUILDINGS

• Cow shed, sheepfold, goat shed, dairy and ancillary buildings

• Manure or liquid manure pit, solid silage pit

• Buildings for the production of day-old chicks

• Chick rearing houses and poultry houses

• Building for the production of meat rabbits

• Stable

• Pigsty

• Beekeeping operation buildings

• Buildings for agricultural operation

• Other buildings intended for the slaughter, processing and preservation of animal products.

II . TREE PLANTATIONS AND GREEN WINDBREAKS

1. Preparatory works

• Clearing, leveling, deep plowing, destruction of couch grass for dry and irrigated plantations, subsoiling, deep digging, etc.

2. Tree plantations in full or intercalary

• Citrus

• Date palm

• Table or seedless or wine grape

• Pistachio

• Almond

• Olive trees

• Various stone fruit trees: (peach, plum, cherry, apricot, walnut, pecan...) and pome fruit trees (pomegranate, fig, apple, pear, medlar...).

• Rehabilitation of young plantations.

3. Internal windbreaks for tree crops

---

[1] As amended by circular to banks no. 89-13 of 17/05/89 and by note to banks no. 91-44 of 26.11.91.

III. CREATION OF WATER POINTS AND IRRIGATED PERIMETERS

• Surface wells

• Borehole

• Spring catchment

• Cistern and basin

• Creation of irrigated perimeters: preparatory works: (leveling, grading and deep digging (other than for tree plantations) etc...; fixed structures and water distribution network.

• Buried irrigation pipe

• Runoff and drainage network

• Hill lakes

IV . AQUACULTURE AND ACQUISITION OF FISHING GEAR AND EQUIPMENT

1. Aquaculture

2 . Acquisition of fishing gear and equipment

• Tuna boat with purse seine and hydraulic control

• Trawlers over 20 meters overall

• Mixed trawlers from 15 to 20 meters overall

• Lamparos and annexes

• Motorized coastal boats under 12 meters in overall length

• Motorized coastal boats from 12 to 16 meters in overall length

• Motorized diving boats, with diving equipment.

This list is not exhaustive and may be revised or supplemented whenever necessary.

POST-CONTROL FILE FOR SHORT-TERM CREDIT

I - DATA ON THE BENEFICIARY

NAME OR COMPANY NAME
///////_/
RISK CODE OR CIN NO.

ƅACTIVITY.......................................................................................................................................................
ƅADDRESS.......................................................................................................................................................
ƅLEGAL FORM.....................................................................................................................................
ƅMANAGER....................................................................................................................................................
CAPITAL........................................................................................................................................................
ƅCAPITAL STRUCTURE........................................................................................................................

II - CREDITS GRANTED

FORM	AMOUNTS (IN THOUSANDS OF DINARS)	MATURITIES

BANK BREAKDOWN : .......................................................................................................................
........................................................................................................................................................................................
..........................................................................................................................................................................

III - SUMMARY OF THE LAST TWO BALANCE SHEETS AND THE RECENT SITUATION*

IV - OTHER INFORMATION

YEARS
TURNOVER OF WHICH EXPORT

PAYMENT PERIODS GRANTED TO CUSTOMERS..................................................... ...............................................................................................................................................

PAYMENT PERIODS GRANTED BY SUPPLIERS................................. ...............................................................................................................................................

CURRENT STATUS OF INVENTORIES :

• RAW MATERIALS ......................................................

• WORK IN PROGRESS ......................................................

• FINISHED PRODUCTS ......................................................

[*] Deleted by circular no. 2003-03 of 28 February 2003

V- GENERAL ASSESSMENTS

(ANALYSIS OF THE FINANCIAL AND CASH SITUATION. CHANGE IN TURNOVER AND FUTURE PROSPECTS. CHANGE IN INVENTORIES AND PURCHASES. JUSTIFICATION OF CREDITS GRANTED).

DATE AND SIGNATURE OF THE BANKER

N.B. Attach :

• The last three balance sheets or, failing that, a recent accounting situation.

• A cash flow table established over 12 months.

• Any other necessary information.

POST-CONTROL FILE FOR MEDIUM- AND LONG-TERM CREDIT

Company name of the Bank :
……………………………………………………………………………………………..

I - DATA ON THE BENEFICIARY

NAME OR COMPANY NAME
///////_/
CODE RISQUE OU N°CIN

ƅACTIVITY.......................................................................................................................................................
ƅADDRESS.......................................................................................................................................................
ƅFORME JURIDIQUE.....................................................................................................................................
ƅMANAGER....................................................................................................................................................
CAPITAL................................................................................................................................................
ƅSTRUCTURE DU CAPITAL........................................................................................................................
ƅPROJECT: CREATION-EXTENSION-RENEWAL..................................................................
ƅLOCATION............................................................................................................................................

II - CREDITS GRANTED

FORM	AMOUNTS	MATURITIES
	(IN THOUSANDS OF DINARS)

BANK BREAKDOWN : .......................................................................................................................
.....................................................................................................................................................................................
....................................................................................................................................................................

III - SUMMARY OF THE LAST TWO BALANCE SHEETS AND OF THE RECENT SITUATION*

IV - PROJECT FINANCING SCHEME

(IN THOUSANDS OF DINARS)
INVESTMENT	AMOUNT	FINANCING	AMOUNT
LAND CIVIL ENGINEERING AND DEVELOPMENT EQUIPMENT TRANSPORT EQUIPMENT APPROACH AND MISCELLANEOUS COSTS WORKING CAPITAL		- CAPITAL OR CAPITAL INCREASE - SELF-FINANCING - SHAREHOLDERS' CURRENT ACCOUNT TERM CREDIT LEASING CREDITS FOREIGN CREDITS - SHORT-TERM CREDITS

[*] Deleted by circular no. 2003-03 of 28 February 2003.

V - FORECAST PROFITABILITY

		(IN THOUSANDS OF DINARS)
PRODUCTS
- TURNOVER
- OTHER
EXPENSES
- CONSUMED PURCHASES
- TFSE
- PERSONNEL EXPENSES
- INDIRECT TAXES AND DUTIES
- FINANCIAL OPERATING EXPENSES
- DEPRECIATION ALLOWANCES
- ALLOWANCES TO RESERVES
- DIRECT TAXES AND DUTIES
- OTHER
	TOTAL
	NET RESULTS
	NET CASH FLOWS
	CUMULATIVE NET CASH FLOWS

VI - GENERAL ASSESSMENTS

(FINANCIAL SITUATION OF THE COMPANY BEFORE AND AFTER THE REALIZATION OF THE INVESTMENT - OPPORTUNITY OF THE INVESTMENT. PLANNING OF REALIZATION AND RELEASE OF EQUITY FUNDS. RESTRUCTURING PLAN FOR CONSOLIDATION CREDITS ETC.).

DATE AND SIGNATURE OF THE BANKER

N.B. The file must be accompanied by:

• the last three balance sheets or, failing that, a recent accounting situation.

• any other necessary information and in particular a restructuring plan for consolidation CMTs.