Several deputies have presented a bill to regulate the guarantees required for bank loans.
This initiative is motivated by the conditions deemed excessive imposed by the financial institutions on borrowers, who exceed, according to the text of the proposal, in many cases, 150% of the amount of capital and interest loan, thus weighing the charge of financing seekers, in particular the carriers of small and medium -sized projects.
The objective of this bill is to regulate the guarantees of bank loans so as to balance the interests of banking and borrowers, while ensuring the sustainability of the financial and banking system and supporting economic growth.
According to the text, the banks or financial institutions cannot, when granting a loan, require guarantees above 100% of the capital amount of the loan granted, excluding interest and commissions, regardless of the type, duration or nature of the loan – unless the nature of the loan or the profile of the beneficiary clearly justifies, and in a documented manner, a derogation.
Banks and credit institutions are required to inform the borrower in writing of all the information relating to the required guarantees, their mode of evaluation, their cost as well as the registration fees.
The proposal also stipulates that, in the case of real estate guarantees, the costs related to the evaluation, registration and mortgage must not exceed 1% of the amount of the loan.
If a bank requires guarantees above the ceiling fixed by law, the borrower can seize the competent court to request a re -evaluation or a reduction in these guarantees at the legal threshold.
In the event of adoption of the proposal, banks and credit institutions must review the current loan agreements which have not yet been fully reimbursed, and this within one year of one year from the publication of the law in the Official Journal of the Tunisian Republic.
