It’s anticipated that a parliamentary initiative will be introduced in the coming days to revise the “checks without balance” law, which many view as unjust. Economic expert Murad Hattab shared insights with Tunisie Numérique, remarking that the revision of Chapter 411 of the Commercial Companies Code, especially in the context of the Bad Check Law, has become a pressing issue. He predicts that, alongside the Law on Combating Financial Exclusion and the review of the Exchange Code, amendments to the law will be made to address concerns regarding checks without sufficient funds.
Hattab underscored that this law is seen as unjust to Tunisians in general, as well as to establishments, traders, and families. The Minister of Justice has presented statistics on the matter and examined it in meetings with the head of state to delve into the specifics of the subject.
He outlined three fundamental areas linked to the law. First, there’s a need to reformulate the penalty concerning deprivation of liberty. Second, efforts are concentrated on developing an electronic platform to substitute paper instruments. Third, there’s a push to improve the functionality of the “bill of exchange” website and commercial papers in general.
The speaker noted that many parties have hampered reaching the reform path that has been reached today with the checks without balance, and they are the same parties that were behind the installation of this law in the seventies of the last century, for several reasons, namely the presence of individuals who profit from the system. The instrument is without balance in connection with fines, fines, late interest, and commissions.
Hattab also pointed out that other financial laws will be reviewed, and they mostly relate to some operations at the level of the financial system. This will be announced when the time comes, he said.
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