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HomeNewsAJECT calls State to establish guarantee mechanism of bank credit for enterprises

AJECT calls State to establish guarantee mechanism of bank credit for enterprises

The Association of Young Chartered Accountants of Tunisia (AJECT) called on Friday, for the establishment of a financing system, instituting a State guarantee mechanism of bank credits for the benefit of enterprises.

The AJECT specified, in a press release, that this mechanism is provided for in Article 11 of Decree-Law No. 2020-6 of April 18, 2020 on the fiscal and financial measures to mitigate the repercussions caused by the spread of Covid-19.

It thus proposed to speed up the publication of the decree establishing the enterprises affected by the Covid-19 health crisis; the signing of the agreement between the Ministry of Finance and SOTUGAR and the preparation and publication of the corresponding circular of the Central Bank of Tunisia (BCT).

The association further recommended that this mechanism will benefit the enterprises that undertake to keep at least 50% of the number of employees during the first two years after granting the credit.

Besides, the association recommended that the amount of this management or operating bank credit, with a maximum repayment period not exceeding 7 years with a grace period of 2 years, should have a maximum ceiling to be set per Credit, per Customer and per Group of companies.

“The amount of credit to be granted should take into account the real need for financing and in particular the necessary, adequate and sufficient amount to help restore the business and ensure at best the continuity of the enterprise’s activities,” it noted.

Moreover, it proposed to draw up an annual report, during the period of repayment of the credit granted, by a Chartered Accountant, on the monitoring of the use of credit granted and the evolution of certain indicators (performance indicators, number of employees, legal and patrimonial situation, etc.).

“The SOTUGAR should undertake to publish to the public, periodically, a state of the credits requested, refused and accepted in number and amount and broken down by sectors and categories,” the AJECT further recommended, considering that “the priority enterprises should be: From the most to the least affected and from the most to the least small.”


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