Regulatory Alerts2016-09-15
Circular to Banks and Financial Institutions No. 04 of 2016
Issued by the Central Bank of Tunisia, Circular No. 04 of 2016 establishes a 31 million US dollar financing line for banks and financial institutions to grant loans exclusively to micro, small, and medium enterprises and startups in Tunisia. The circular mandates a maximum loan amount of 3 million Tunisian dinars per project, a repayment term of up to ten years including a five-year grace period, and caps interest rates at 6% for banks on USD loans and 2% on TND loans, while limiting beneficiary rates to 8.5% and 4.5% respectively. It imposes strict compliance, auditing, and quarterly reporting obligations on lending institutions, sets a final utilization deadline of January 12, 2020, and repeals the previous Circular No. 12 of 2013.
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