According to financial and economic analyst Bassam Naifer, one of the most important effects of the new law on bounced checks is the decrease in transactions involving guarantee instruments. The law seeks to effectively apply penalties to both the issuer and recipient of such bank instruments.
Speaking to Tunisie Numérique, he noted, that in this case, traders can resort to other financial transactions, such as direct deduction from the wages according to a specific period to be agreed upon, or approving the “promissory note,” even though statistics show that the percentage the bills that are rejected surpass the percentage of bonds.
The same source also underlined that all previous transactions, such as the approval of guarantee bonds by small merchants to settle other dues, will become impossible due to the criminal liability that the law imposes on all parties. He called on all commercial dealers to deal well with the new law and execute it carefully to avoid the resulting negative effects on people.
In the same context, Naifer stated that the new draft law related to the check dealing system is marked by a clear philosophy of holding responsibility to all parties implicated in the process of issuing instruments.
What's happening in Tunisia?
Subscribe to our Youtube channel for updates.
