Regulatory Alerts2021-05-31
Circular to Approved Intermediaries No. 2021-03 of May 31, 2021
The Central Bank of Tunisia issued Circular No. 2021-03 to regulate the organization and functioning of domestic foreign exchange and money markets for approved intermediaries. The circular mandates that all interbank spot and hedging transactions be executed via Reuters Dealing or Bloomberg systems, establishes strict quotation obligations and liquidity requirements for market makers, and enforces comprehensive risk management protocols including net equity ratios and counterparty limits. Furthermore, it standardizes foreign currency auction procedures, clarifies permissible uses of non-convertible funds, and requires continuous electronic reporting to ensure market transparency and stability.
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