Regulatory Alerts2020-05-28
Central Bank of Tunisia Circular No. 2020-12 of May 28, 2020 on Exceptional Financing to Support Businesses and Professionals in Response to the COVID-19 Pandemic
The Central Bank of Tunisia issued Circular No. 2020-12 on May 28, 2020, mandating banks to grant exceptional working capital financing to businesses and professionals until December 31, 2020 to mitigate the economic impact of the COVID-19 pandemic. The circular permits loans up to seven years (including a two-year grace period) capped at 25% of 2019 net sales or six months' payroll, which qualify for money market refinancing with progressive discounts based on client risk classification. Furthermore, banks must maintain a "Credits/Deposits" ratio above 120% by reducing it quarterly, submit monthly beneficiary lists and post-audit control files via the data exchange system, and report these exceptional loans to the Information Center using designated financing codes.