Tunisia Strengthens Regulation of Microfinance Sector
Tunisia has reinforced the regulation of its microfinance sector through a ministerial decree published in the Official Journal on December 26, 2025. The decree sets a ceiling on annual interest rates applied to microfinancing granted from non-budgetary resources.
Dynamic Reference Mechanism
Instead of imposing a fixed rate, the mechanism relies on a dynamic reference. Every 6 months, the Microfinance Control Authority (ACMF) calculates, for each type of microfinancing, an average annual effective global rate (TAEG) based on the rates practiced by sector institutions in the previous semester. In other words, these averages, calculated based on the weighted average of rates applied by institutions during the previous semester, serve as a reference for the following semester to determine excessive interest rates or profit margins.
Publication of Reference Rates
The ACMF will publish the following information through an official notice:
- Reference rates
- Categories of microfinancing concerned
- Method of calculating the TAEG
Benefits for Beneficiaries and the Sector
This mechanism provides beneficiaries with more transparency and security, limiting the risks of excessive costs. For the sector, it constitutes a tool for discipline and regulation, strengthening trust in Tunisian microfinance.
