Publication of three decrees regulating the activity “Crowdfunding” in investment in negotiable securities, in loans and in donations and liberalities

Three decrees regulating the activity of “Crowdfunding” in investment in securities, in loans and in donations and gifts were published in the Official Gazette of the Republic of Tunisia (JORT) of October 21, 2022.

These decrees aim to organize the “Crowdfunding” activity in investment in negotiable securities, in loans and in donations and donations to ensure the smooth operation and protection of contributors’ funds.

The exercise of these activities is carried out by virtue of approvals granted by the Financial Markets Council for the activity “crowdfunding” in investment in negotiable securities, by the Governor of BCT, for that in loans, and by the supervisory authority for microfinance, for the “crowdfunding” activity in donations and liberalities.

These activities are carried out on the basis of certain elements, including the company’s program of activities, which must in particular contain a business plan and the services to be provided, the quality of the direct and indirect shareholders in relation to their reputation and their financial, and human and technical resources and their adequacy in relation to the program of activities, particularly with regard to information systems and security devices.

– Decree No. 2022-765 of October 19, 2022 regulating the activity of “Crowdfunding” by investment in negotiable securities.

– Decree No. 2022-766 of October 19, 2022, organizing the “Crowdfunding” activity in loans.

– Decree no. 2022-767 of 19 October 2022 on the organization of the activity regarding
“Crowdfunding” in donations and liberalities.

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