New Regulations for Checks without Provision in Tunisia
During his appearance on Wassim Ben Larbi's "Expresso" show on Express FM, Mohamed Nekhili, Central Director of Legal Affairs at BTK Bank and member of the CBF's (Conseil bancaire et financier) Legal Committee, explained the new regulations regarding checks without provision in Tunisia.
Closure of Inactive Accounts
The expert addressed the closure of inactive accounts, specifying that, following an amendment to Article 732 of the Commercial Code, an account inactive for three months can be closed after notifying the client. In the event of death or prolonged inactivity of five years, remaining funds will be transferred to the Public Treasury.
The amendment has eliminated the old practice of leaving numerous inactive accounts open, forcing their owners to pay high fees when they realized they had not been closed.
Financing for Small and Medium-Sized Enterprises
Nekhili also highlighted that the new law requires banks to allocate 8% of their profits to finance, under favorable conditions, small and medium-sized enterprises without requiring guarantees.
Furthermore, he emphasized the importance of beneficiary companies receiving adequate training and obtaining a certificate attesting to their ability to manage a business.
Reminder: New Rules for Checks without Provision
To recall, checks with an amount of 5000 TND or less are no longer subject to legal proceedings, and the beneficiary must simply initiate a civil procedure. For higher amounts, legal proceedings are only possible at the request of the beneficiary.
