Tunisian President Chairs Ministerial Meeting on Reforming Check Bounce Laws
The President of the Tunisian Republic, Kaïs Saïed, chaired a ministerial meeting on May 27, focusing on revising the provisions of the Commercial Code related to bounced checks.
The meeting emphasized the responsibility of banking institutions and alternative solutions to resolve disputes related to bounced checks.
According to the official communiqué, the President stressed the need for a comprehensive approach in the draft law submitted to the Assembly of the People's Representatives (ARP). The project aims to protect both the issuer and the beneficiary of the check, while engaging the responsibility of the issuing banks in case of a bounced check.
Mediation is proposed as the first step in resolving disputes, before resorting to criminal proceedings. Furthermore, only beneficiaries will be authorized to initiate legal proceedings.
The Head of State emphasized individual responsibility for check users and banks, calling for solidarity among banks with defaulting issuers.
The project also suggests introducing electronic platforms to verify the availability of funds in real-time at the time of check issuance.
The draft law presented to the ARP proposes cumulative penalties upon request of the condemned for bounced checks, while reducing the imprisonment period.
Penalties exceeding twenty years will be reduced to ten years, while those under twenty years will be divided by two. A suspension of the sentence may be granted to detainees who respect their financial obligations.
Moreover, the draft law provides for the cancellation of fees and penalties for convicted individuals who have settled their debt, with retroactive provisions to allow for the resumption of activities and regularization of the situation of those concerned.