The Tunisian financial and banking system is set to launch a new loan mechanism starting Thursday, October 1, 2026. This system, known as "loans of honor," will be interest-free. The application process for these loans will be exclusively digital, with banks allocating specific digital platforms for this purpose. According to the Central Bank of Tunisia, this move aims to facilitate access to bank financing for a wide segment of the population.
The new loan system has been eagerly anticipated by many Tunisians seeking to improve their financial situation. Professor of Banking Law, Mohamed Nakhili, previously stated that the digital platform will provide applicants with a receipt containing the date, time, and serial number of their application. He added that file processing will be based on the priority of application submissions. The bank is required to respond within 10 days, either by approval or rejection with reasons.
The "loans of honor" will be granted without interest or collateral. Banks will allocate 8% of their profits to fund these loans. The Central Bank of Tunisia has set regulatory conditions for granting these loans, with a maximum financing limit of 25,000 dinars for small and medium-sized economic institutions or community companies. The limit is 10,000 dinars for small project owners and 5,000 dinars for individuals to finance consumption needs.
According to the regulations set by the Central Bank, at least 50% of the "loans of honor" must be allocated to small and medium-sized economic institutions or community companies. These loans will be short-term, with a repayment period not exceeding two years and no interest. A six-month grace period may be granted. Banks are prohibited from requiring any insurance or guarantees.
The new loan system will benefit individuals, small project owners, small and medium-sized economic institutions, and community companies. The regulations define a small project as one with a total investment not exceeding 150,000 dinars, including circulating funds. Small and medium-sized economic institutions are defined as those with investments between 150,000 dinars and 15 million dinars.
The introduction of "loans of honor" aims to promote financial inclusion and support economic growth. By providing access to interest-free loans, the government hopes to stimulate entrepreneurship and improve living standards. The digital application process is expected to simplify and streamline access to financing.
The new loan mechanism is part of the government's efforts to enhance financial services and promote economic development. With the launch of "loans of honor," Tunisia's banking system is taking a significant step towards providing more accessible and affordable financing options for its citizens.
Key points
- The new loan system in Tunisia offers interest-free loans of up to 25,000 dinars for small and medium-sized economic institutions.
- The application process for "loans of honor" will be exclusively digital.
- At least 50% of the loans must be allocated to small and medium-sized economic institutions or community companies.
