President of the Tunisian Republic, Kaïs Saïed, chaired a vital meeting on Friday, June 7, 2024, to examine and update certain provisions of the Commercial Code related to the legal system of checks. This meeting is part of the ongoing bill aimed at amending Article 411 of the Commercial Code, which is currently under consideration by the House of People’s Representatives.
During the meeting, President Saïed underscored the necessity to balance the interests of all parties involved by providing convicted people or those on the run with a reasonable period to regularize their situation.
The bill is anticipated to positively impact not only creditors and debtors but also enhance the security of check transactions and improve banking practices. The aim is to promote economic development and social justice.
President Saïed emphasised that imprisonment or flight are not a viable solution. The current legal system, which is deemed unfair, hampers the growth of small and medium-sized businesses as well as the national economy. Therefore, it is urgent to reform the system to address these issues definitively.
This initiative is part of the Tunisian State’s effort to modernize its legal framework, fostering a more stable and equitable economic environment that guarantees trust and security in commercial transactions.
What's happening in Tunisia?
Subscribe to our Youtube channel for updates.
