The value of bounced cheques, i.e. those that were not honoured by banks and the Tunisian Post Office due to insufficient or missing balances, reached TND 818 million, out of a total of 6.34 million cheques in circulation. The value of cheques in circulation represented 53% of the total value of the various means of payment, or 29.7 billion dinars.

According to the latest data from the Central Bank of Tunisia (BCT), the value of rejected cheques increased by 2.75% compared with the first quarter of 2022, while the number of such cheques rose by 1.56%.

The same data revealed the low use of electronic means of payment, especially as their value did not exceed 218.2 million dinars at the end of March, as well as a slight increase by 0.6% in the number of bank and postal cards in circulation compared with the number recorded at the end of 2022, i.e. a number of these cards of 6.6 million.

In general, these figures show that cheques are widely used in Tunisia, despite all the problems that this entails. Issuing a cheque without sufficient funds or with an insufficient balance, or failing to collect it, is a crime punishable by imprisonment.

A number of organisations, including those representing small and medium-sized enterprises (SMEs), have recently called for a revision of the law on bounced cheques (Article 411 of the Penal Code), the abolition of imprisonment and the introduction of electronic cheques.

In a meeting with Minister of Justice, Leila Jaffel, last May 8, the President of the Republic called for this issue to be resolved and for a bill to be drawn up to ensure equal justice for the issuer and the recipient of cheques.

The President of the General Legislative Committee of the Assembly of People’s Representatives (ARP), had recently stated that the committee considers the revision of article 411 to be a legislative priority, adding that the committee will begin hearings until it receives the draft law from the Presidency of the Republic.

Source: Agence Tunis Afrique Presse