Regulatory Alerts2024-02-20
Circular to Approved Intermediaries No. 2024-06 of February 20, 2024
The Central Bank of Tunisia issued Circular No. 2024-06 to authorize Approved Intermediaries, effective February 20, 2024, to dispense tourist allowances for the 2024 Hajj pilgrimage using available Saudi Riyal balances. The circular extends the validity of foreign currency export authorizations to four months and mandates that intermediaries publicly display fixed selling rates for these allowances. These measures apply exclusively to officially registered pilgrims and designated members of the accompanying Tunisian delegation, ensuring streamlined currency allocation for the pilgrimage campaign.
1 Tunis, February 20, 2024 CIRCULAR TO APPROVED INTERMEDIARIES No. 2024-06 Subject: Tourist allowance for the pilgrimage campaign of the year 1445 Hijri corresponding to the year 2024. The Governor of the Central Bank of Tunisia, Having regard to the Exchange and Foreign Trade Code promulgated by Law No. 76-18 of January 21, 1976, as amended and supplemented by subsequent texts, 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, concerning banks and financial institutions, Having regard to Decree No. 77-608 of July 27, 1977, setting the conditions for implementing the Exchange and Foreign Trade Code, as amended and supplemented by subsequent texts and notably Decree No. 2017-393 of March 28, 2017, Having regard to Circular to Approved Intermediaries No. 2007-04 of February 9, 2007 concerning the tourist allowance as amended by subsequent texts, Having regard to Circular to Approved Intermediaries No. 2016-10 of December 30, 2016 concerning the authorization for the export of foreign currency in banknotes and by checks, Having regard to the opinion of the Compliance Control Committee No. 2024-6 of February 16, 2024 as provided for in Article 42 of Law No. 2016-35 of April 25, 2016 establishing the status of the Central Bank of Tunisia and notably its second paragraph regarding circulars having an urgent character. Decides: Article 1: In the context of organizing pilgrim travel for the year 2024, Approved Intermediaries may, through their single windows, grant the tourist allowance starting from February 20, 2024. Approved Intermediaries use their available balances and obtain supplies of Saudi Riyal banknotes from the branches of the Central Bank of Tunisia for granting the tourist allowance to pilgrims. Each Approved Intermediary must set the selling exchange rates for currencies regarding the tourist allowance and display them legibly to the public. Article 2: By way of derogation from the provisions of Article 5 of Circular to Approved Intermediaries No. 2016-10 of December 30, 2016 cited above, the authorization for the export of currency in banknotes regarding the tourist allowance remains valid for four months from the date of its grant and applies solely to pilgrims registered on the official lists as well as members of the designated official Tunisian delegation accompanying them. Article 3: This circular enters into force from the date of its publication. THE GOVERNOR, Fethi Zouhaier NOURI