Tunisia Law 41-2024: Key Changes to Cheque Regulations

Law No. 41 of 2024 (dated 2 August 2024) amended several provisions of Tunisia's Commercial Code regarding cheque transactions. Key updates 1) Opening a cheque account - Banks may link cheque-use accounts to client solvency assessment. 2) Cheque cap and validity period - Cheque books are now subject to value limits set by banks. - A maximum amount is printed on each cheque, with an overall ceiling. - Validity period is limited, and late-presented cheques are treated under stricter rules. 3) Removal of bearer cheques - Bearer cheques are no longer allowed. - Named beneficiary is mandatory. 4) Unified digital cheque platform - A centralized platform under central bank supervision supports cheque verification and related operations. 5) Bank liability and payment mechanisms - The law introduces specific treatment for low-value bounced cheques and recovery mechanisms. 6) Criminal and procedural updates - The reform revises offenses and penalties relating to cheques without sufficient funds. - In some cases, alternatives to imprisonment may apply. 7) Transitional mechanisms - Temporary procedures are available for pending cases, including settlement commitments and conditional suspension of proceedings/execution. Conclusion Tunisia's cheque reform significantly reshapes banking and commercial practice. Businesses and individuals should update their compliance and payment procedures to reduce legal risk.