As of October 1, 2026, Tunisian banks are required to offer 'honor credits,' a new lending system designed to facilitate access to financing for individuals, micro-project owners, and small businesses without collateral, fees, or interest. This initiative is governed by decree No. 2026-148 and the Central Bank of Tunisia's circular No. 8-2026. The program aims to democratize access to financing by eliminating traditional banking constraints.
The 'honor credits' are part of a broader effort to promote financial inclusion in Tunisia. The program will be funded from a portion of the banks' previous year's profits, with a minimum annual allocation of 8% to a special account dedicated to this purpose. The total envelope for this initiative is estimated at 120 million dinars. Borrowers will have a repayment period of up to 24 months, with a possible six-month grace period before repayments begin.
The application process for 'honor credits' will be fully digitalized, with each bank required to establish a dedicated online platform for receiving loan applications. This platform will ensure equal treatment of all clients and transparent processing of requests. The Central Bank of Tunisia emphasizes the importance of protecting personal data in this process.
The 'honor credits' will be offered in three categories, with varying loan amounts based on the borrower's profile and needs. Individuals can borrow up to 5,000 dinars for everyday expenses or small purchases. Micro-project owners can access up to 10,000 dinars to launch or expand their activities. Small and medium-sized enterprises (SMEs) and community companies can borrow up to 25,000 dinars.
The Tunisian authorities expect this initiative to accelerate financial inclusion and reduce the reliance on cash transactions. By requiring borrowers to have a bank account, the program may encourage individuals and businesses in the informal sector to join the formal banking system. This, in turn, could lead to increased access to other financial services, such as savings and electronic payment methods.
Experts and economists have welcomed the introduction of 'honor credits,' but some have expressed concerns about the potential risks and challenges associated with this program. The Central Bank of Tunisia will need to closely monitor the implementation of this initiative to ensure its effectiveness and sustainability.
The success of 'honor credits' will depend on various factors, including the banks' willingness to participate and the borrowers' ability to repay their loans. If implemented effectively, this program could become a valuable tool for promoting economic growth and financial inclusion in Tunisia.
Key points
- The 'honor credits' program aims to provide zero-interest loans to individuals, micro-projects, and small businesses in Tunisia.
- The program will be funded from a portion of the banks' previous year's profits, with a minimum annual allocation of 8%.
- The application process for 'honor credits' will be fully digitalized to ensure equal treatment and transparent processing of requests.
