New Honor Credit Mechanism Introduced in Tunisia
Decree 2026-148: A New Era for Small Businesses and Individuals
The decree n° 2026-148, published in the Official Journal of the Tunisian Republic (JORT) on July 23, 2026, introduces a new honor credit mechanism, as provided for in the 2024 check reform (article 412 ter of the Commercial Code).
Key Provisions
- The decree sets three credit limits based on the beneficiary's profile:
- 25,000 dinars for SMEs and community companies
- 10,000 dinars for micro-project holders
- 5,000 dinars for individuals
- These credits are repayable over a maximum period of two years
- Notably, banks are required to allocate at least 8% of their previous year's profits to fund these credit lines and must process each application within 10 working days
Expert Insights
According to expert Mohamed Salah Ayari, a simple declaration of honor is not sufficient; a file is still necessary, and the bank retains its right to pursue legal action in case of non-payment.
The Issue of Free Credit
The main point of contention concerns the interest rate. If the rate is zero for the borrower, someone must absorb the cost. Sadok Rouai, a former official of the Central Bank of Tunisia, explains that "the cost never disappears, it simply changes the payer."
Economic Concerns
Economist Aram Belhaj fears that banks may prioritize low-risk applications, which would undermine the social purpose of the mechanism. The overall envelope of approximately 120 million dinars, drawn from 2025 bank profits, seems insufficient to meet the demands of a large number of potential credit seekers.
Access to Credit for Small Entrepreneurs
For young project holders and micro-enterprises that have historically been excluded from bank credit due to insufficient guarantees, this mechanism opens a concrete door to initial financing. However, its success will depend on the clarity of the allocation criteria between banks and the support provided to beneficiaries to transform this boost into a sustainable activity.
