New Check Model to be Introduced in Tunisia
Proposed Changes to Improve Security and Reliability of Check Transactions
A new check model is set to be introduced in Tunisia as part of a bill aimed at amending Article 410 of the Commercial Code. The initiative was announced by MP Yassine Mami on social media.
The proposed bill, put forth by the Ministry of Justice, includes several key changes:
General Ceiling for Checkbooks
A general ceiling will be set for each checkbook.
Specific Ceiling for Each Check
Each check will have a maximum defined amount.
Validity Period
The validity period of checks will be determined.
No Immediate Cashability
Checks will not be immediately cashable, except upon specific request.
Checks Issued to a Designated Person
Checks will be issued to a specific designated person.
Maximum Amount
The amount of each check cannot exceed 30,000 dinars.
Additionally, a platform will be established to verify the availability of funds in the bank account before issuing the check, according to the MP.
These changes aim to improve the security and reliability of check transactions. The bill is currently being discussed at the People's Representatives Assembly.
